I have mentioned that a price book helps me save money by keeping track of the best prices on items so I know when they are at a “stock up price”. Katie explains how to create a price book and how to use it to save money.
With all of the data that is available on the internet, few people still consult books for information. However savvy shoppers know that a price book can be the perfect tool for saving money. A price book is actually a book created by YOU, identifying the common prices of items on grocery and health and beauty products at stores in your area. While it may seem like quite a bit of work at first, a price book can actually save you tons of money in the long run as you will be able to tell if an item is being sold at a great price or not. If you think you would like to try making your own price book, take a look below at how you can get started.
How to Use a Price Book to Save Money: 7 Easy Steps
1. First, there are two ways that price books are set up. You can try doing one alphabetically or categorically. A regular notebook is perfect for this task.
2. Each page in your price book should have the date, name of your grocer, the brand of the item, the size, the price, and the unit price of the item. Divide the size by the price to get this number or look on the store price tag.
3. Over the next few months, document your purchases in this manner in your price book. You will see a pattern in the store’s sale cycles as well.
4. Write in your price book items that you purchase each week. Include staples such as bread, milk, and eggs.
5. Visit a variety of stores during this trial time so you can get a clear idea of where the lowest prices and greatest sales reside.
6. Continue to add to your price book until there is a fair sampling of the items you purchase often. Now, examine the sales cycles, unit price, etc.
7. Using these patterns and information you have collected, reference your price book when shopping to decide if the sale price is truly a good deal or not.
Keep your price book in your car or purse so you always have it when you need it. After you invest so much time in creating it, you want to make sure you get plenty of use out of it.
Give a price book a try and see how much you can save on your weekly grocery shopping! Yes it is time consuming at first, but you will quickly find that the time you invest in it is well worth it.
Katie Femia is a wife and mother of three. She loves vintage finds, handmade goodness, the frugal life, and the long road to publication. You can find her at The Savvy Luna Bugg, the blog for frugalistas seeking simplicity through a handmade and vintage lifestyle.