One of the main places people tell me they want to save is on their food budget. According to food industry expert and author Phil Lempert, Americans are feeling the pinch at the grocery store and there doesn't seem to be any relief in sight.

"2011 brought us higher food prices at unprecedented levels and projections are that food prices will continue to increase over the next 11 years, " says Lempert, who founded SupermarketGuru.com.

To combat the increases, Lempert says consumers are looking for alternatives to mega-supermarket chains and shopping the food aisles in Trader Joe's, warehouse clubs, dollar stores and other off-price alternatives.

"We're never going to see people going back to the way they used to shop. Those giant supermarkets are dinosaurs," says Lempert. "Consumers are going to different venues for different items, rather than doing a one-stop shop in a huge grocery store."

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