ARE YOU TRYING TO SAVE MONEY AT THE GROCERY STORE? It's difficult to do when the price of food keeps going up and up.
It can get confusing to know if a bargain or special is really a great deal. You can be your own advocate however, by creating a PRICE BOOK. This will be a powerful tool for keeping track of prices, sales, products, and price per unit by store. Over time, when you review your price book, you'll be able to pick out a common "sales cycle" between all of the merchants and combine coupons you may have collected for an item. It's important to know this as it will allow you to stock up on our favourite items knowing that it might be a few months to a year before the next sale prices comes back around. Stay tuned for TOMORROW'S blog on GROCERY STORE SALES CYCLES and UPCOMING BLOG ON - HOW TO COUPON IN CANADA.
How do you go about making a price book? It doesn't have to be too technical or complex. You can use a binder, spiral book, notebook, a spreadsheet, a planner or even your smartphone or tablet. There are even price book apps out there that can help you keep track of what you buy. The important categories in your price book should include:
- Store Name
- The product Brand
- The product Size
- The product Price
- The product unit Price
Toilet Paper is something that everyone buys on a regular basis. The marketing ploys of companies is to make you feel like you're getting a great deal when there is more on the roll, so they use words like "MEGA" or "DOUBLE" to make you think you're getting a lot for your money. If you price out the unit price, however, you'll see that the price per roll of toilet paper can vary dramatically. See a recent sample from my price book below for double rolls of toilet paper:
FOOD TYPE DATE STORE BRAND SIZE PRICE/SIZE PRICE/UNIT
TOILET PAPER Jan. 30/16 NO FRILLS ROYALE 30=60 ROLLS $7.97 $0.27
Jan. 30/16 FOOD BASICS CASHMERE 12=24 ROLLS $3.88 $0.32
Jan. 30/16 ZEHRS CHARMIN 12=24 ROLLS $3.99 $0.33
Jan. 30/16 WAL-MART CASHMERE 30=60 ROLLS $9.98 $0.33**
** THIS WAS A "ROLL-BACK" PRICE FOR WAL-MART, and they still came out higher in price per unit than others.
Being an educated consumer is a smart consumer and will save you a lot of time, money and lighten your shopping stress in the long run if you arm yourself with this valuable tool that you can analyze over time as you build your price book.