The price of eggs — and other groceries — still a big issue in New Jersey

Reality has hit hard with the price of groceries, not only here in New Jersey but across the country. The USDA reports that since 2019, grocery prices on average have increased 30%. Couple those figures with U.S. income remaining flat or slightly decreasing since 2019, and you have households spending a larger share of their already stretched income on the higher-priced necessity of groceries for their family.

That additional chunk of income going to groceries has resulted in a decrease in entertainment, vacation, and luxury expenditures.

How did WalletHub determine the results for each state?

WalletHub analyzed the prices of 26 commonly purchased grocery items across all 50 states. They totaled those costs and compared them with each state’s median household income to identify which state’s residents devote the largest and smallest percentage of their income to groceries.

How New Jersey ranks

New Jersey is tied with Massachusetts for residents spending the least amount of their income on groceries in the country. New Jerseyans on average have a 1.51% cost of groceries as a share of median monthly income. Mississippi came in with the largest share of spending at 2.60%.

WalletHub says that budgeting carefully with creating a budget will help decrease the need for unnecessary items that get tossed into the basket. Getting creative with the budget with store brands, coupons and sale items will help overall.

If you are using a credit card, use the right one that is best for groceries. You can save up to 6% at checkout with the right card. The trick of using that card is to use your budget that is set aside for groceries and pay off the card as soon as you get the statement to eliminate higher interest rates.

Buying in bulk may help too. If you see an item that you use that is on sale and you can afford it that month, buy multiples of those items so that you are saving overall. If you have a big family, consider membership to a big bulk store that is the best for you.

With grocery prices higher we need to address those concerns weekly and monthly with tactics that are going to put less strain on your income. Times are tough. We must adjust.

The post above reflects the thoughts and observations of New Jersey 101.5 weekend host Big Joe Henry. Any opinions expressed are Big Joe’s own.

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