Mon. May 16th, 2022

MARTIN Lewis urged families to take on a top-down challenge to cut food costs by up to 30%.

This includes replacing premium and branded products with supermarket-value or own-branded items and can save you £1,500 per year.

Martin Lewis shared tips on increasing the cost of living in his MoneySavingExpert newsletter.

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Martin Lewis shared tips on increasing the cost of living in his MoneySavingExpert newsletter.Credit: ITV

MoneySavingExpert founders suggest families try tricks to cut supermarket spending as the cost of living soars.

Grocery costs are rising as supermarkets raise prices with inflation.

After the energy price cap soared 54% last week, gas and electricity costs have also risen, adding £700 to the average annual bill.

Congressional taxes and national insurance are also skyrocketing, putting more pressure on household finances.

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Lowering the level of products in supermarkets saves money without compromising taste.

If a family who spends £100 on a store every week could cut their bills by 30%, they could save £1,500 a year.

The downshift problem applies not only to food, but also supermarket items such as soap, toothpaste, and toilet paper.

It’s a similar approach to Sun Squeeze Team’s own brand challenge.

There are four main brand levels to choose from as you navigate the aisle. Premium, brand, own brand and value.

In his weekly newsletter today, Martin said: “The downshift challenge is essentially lowering the brand level of groceries.

“If you can’t feel the difference, stick with the lower levels. On average, you’ll get 30% off your bill, so stick with half and you’ll save 15%.

“You can do it not only with food, but also with toiletries and cleaning products.”

Premium products are often described as “luxury” or “best” and will have smarter packaging.

Branded products are household names familiar to all of us, such as Heinz ketchup or Yorkshire tea bags.

A self-branded line is usually a supermarket’s take on that branded product.

The cheapest items are usually in a value or basic range with the most plain packaging.

Be sure to keep an eye on our special offers. Downshifting doesn’t make sense if your favorite product is on sale.

You should also use your loyalty card or other supermarket savings techniques like checking coupons to maximize your savings.

With the recent rise in the cost of living, supermarket price ranges are in the spotlight.

Last month Asda announced an overhaul of its basic range, announcing that it would be scrapping its Smart Price line and replacing it with Just Essentials.

Recently, in response to pressure from campaigners to raise prices, it promised to stockpile affordable products in all its stores.

Sainsbury’s previously replaced the default value range with a number of its own brand lines, including Hubbard’s and Stamford Street.

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Tesco has also downsized its Everyday Value line in the past and instead opted for different names for its own branded products.

Meanwhile, Morrisons have more than 250 products in their Savers family.

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