Grocery Price Book System To Track Unit Costs And Know When Bulk Buying Wins

As grocery prices soar, finding ways to shop on a tight budget can feel like an uphill struggle. But there are tools and strategies you can employ in order to save money.

One effective shopping technique is buying by unit pricing. Doing this allows you to take advantage of volume discounts for pantry staples or freezer-safe products.

1. Keep a Price Book

Price books are simple ways of recording prices of items you frequently purchase (whether on paper or an app like Monee). A typical record would include information such as store, item (in ounces or liters), size and unit cost.

By quickly and easily comparing unit costs prior to making purchases, this will enable you to identify which stores and brands provide the best prices for various items. Thus, enabling you to avoid overbuying and food waste.

Begin small with a sheet of paper or app like Monee’s Grocery Tracker. If you find yourself forgetting, set aside time each week or twice every month for entering receipts into Monee’s Grocery Tracker – this will ensure you keep an accurate account of prices while not missing sales opportunities and discounts! Be mindful that just because an item is displayed prominently does not mean it is on sale; check its price before buying anything displayed prominently or near an end cap!

2. Track Unit Costs

Establishing a price book requires some extra work, but will pay dividends through easier and cheaper shopping experiences. Begin with a short list of the 15-20 items you purchase most frequently and track prices over several months.

Noting the size (quantity) of your purchases allows you to accurately calculate unit pricing; for instance, buying more store brand peanut butter might actually save money than purchasing smaller jars.

Keep a record of when items go on sale to know when items need to be stocked up or switched over quickly at the cheaper store. Unit pricing also helps compare different sizes of the same product such as per serving, ounce, or pound; keeping this in mind can save money by encouraging switching brands or bulk purchasing items; this is the best way to save money and manage inventory efficiently.

3. Know When Bulk Buying Wins

Once you know the prices for items you buy frequently, you can easily compare and evaluate whether a deal is truly a great value. For instance, larger packages of meat may cost less per kilogram than individual packs sold individually.

Maintaining a price book may take time, but it can be one of the most useful tools in your thrifty Kiwi arsenal. Just start small by recording prices for items you buy most frequently before adding new prices as you see them. Begin collecting prices from supermarket flyers (FLIPP app can help!) before creating your price book.

Next time you find yourself standing before a peanut butter display, use your price book to check its pricing and decide whether the sale is truly worthwhile. Supermarkets spend millions to put products on store shelves that entice shoppers into parting with their money – beat them at their own game by keeping track of your spending! A price book gives you the edge!

4. Track Your Spending

Utilizing a grocery price book may take more time and effort, but it is an invaluable way to stretch your dollars further. When analyzing your spending, pay particular attention to unit prices rather than total costs (this includes packaging costs) when comparing sizes or retailers’ sales; for example when looking at bulk pricing or discounts from retail locations. By doing this, it will help determine if products really offer savings when purchased in larger amounts or whether a sale truly represents value for your dollar.

Banktrack, for instance, connects directly to your bank account and automatically categorizes and analyzes transactions; budget management tools provide alerts so you stay on track with financial goals; while Receipt Hog is an easy and straightforward way to enter expenses while potentially earning cashback or rewards.