The increasing cost of food is having a big impact on Edmonds College student Matt Hipke as he tries to keep to an ever stricter budget to make ends meet.
“I have had to spend more time finding the best deals on everyday items,” Hipke said. “And I have had to stop going out to eat with friends as often to manage my spending.”
That extra investment of time makes an already hectic schedule of juggling work, studies and a social life even more pressing.
Hipke isn’t alone. Over the past few years, inflation has brought the prices of everyday items up exponentially, and this increase in price for food is affecting students at Edmonds, and around the country, in multiple ways.
According to the March 2024 Consumer Price Index, eggs have increased 50% in price since March 2020. Steaks marked a 32.6% increase, butter a 29.4% increase, and fruits and vegetables a 27.4% increase in the same time period. Since March 2020, grocery store prices overall have increased by as much as 24.7%, with average weekly grocery spending currently at about $160 for just one person in Washington state.
For full-time students who often have full-time jobs, this can make it difficult to balance time for school, work and attending social outings. A simple night out with your friends is a good way to blow off some steam and relieve stress. But even working full time often can’t provide enough extra money for busy college students to have a simple social outing.
Hipke recounted a few ways his life has changed due to the price increases.
“I have had to limit going out to eat to only once a week, because of how expensive it is to dine,” he said. “Even going out to eat once a week makes it hard to afford everyday necessities.”
In addition, he said he has to go the extra mile to find a decent price on something as simple as eggs or butter. A lot of college students do not have this extra time to grocery shop to that extent, and that could easily interfere with their studies.
Hipke and fellow student Avary Olson offered some tips on how to manage expenses amid every increasing prices:
- Make sure that you set up a budget that you will not surpass — that could be for groceries or just for going out to eat or even both of those.
- Meal prepping: prep meals in advance so you are not in a position where you need to buy something on a whim. Doing this will ensure you have a meal and also stop you from having to eat out which is much more expensive than something homemade.
- When shopping, always make sure to compare items and their prices. Never blind grab items you need, because you might just be able to find a better deal with a different brand.
These three tips are some ways students Hipke and Olson manage their spending on groceries and eating out. When the prices rise so does the need for strategic money management, the students said.
