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Rock Bottom Pricing: Maximum Savings Version

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Have you started your pricing list? We have looked at the term “rock bottom pricing,” considered two ways to discover those prices, and considered the simple version. If you are just starting, then continue working on the simple version. Once you have mastered the simple version, let’s kick up your savings with the maximum savings version.

MAXIMUM SAVINGS VERSION:

Transfer your Rock Bottom Price List to a Price Book

By tracking each item, you will get to know the cycle of the sales your stores run.  You can organize your pricing book in a number of ways. Yes, I said pricing BOOK. To get those awesome deals, you will be tracking the stores as well as the items. I would recommend a binder or notebook with moveable pages. As you run out of room, you will want to add pages to your book.

Here are some ways to organize your pricing book:

  • By store,
  • By department,
  • By categories that correspond to your coupon file, or
  • Combination of the above.

You can be as specific as you need to be. This is your book. These ideas are meant to help you get started. Your creativity is the limit.

Continue updating your Rock Bottom Price List

Be willing to adjust. If you start organizing your book by store and then find it is not working, be willing to change to another option. The goal is to make this system work for you. What works for me may not work for you.

Using your Rock Bottom Price List

Making choices will become easier as you see the cycles of savings. When the prices are low, you will be able to stock up to last you until the next big sale. As you buy ahead at rock bottom prices, you will see a significant savings to your grocery budget.

Whether you choose the simple version or the maximum saving version, you will be spending your time. As you evaluate how to spend your time wisely, I wish you lots of savings while you feed your family!

Rock Bottom Pricing: Defined and Discovered

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Last week, while defining and explaining how to stockpile, I mentioned the term “rock bottom prices.” For example: “My rock bottom price for marinades is $.75 or less.” This means that, for me, $.75 is a low price for a marinade. If I can purchase a marinade for $.75 or less, I will stock up on marinades since I probably won’t find a lower price.

DISCOVERING MY ROCK BOTTOM PRICE

You can make this process as simple or as complex as you need to save money. I love to save money, but I also love to spend time with my family. If my budget has some wiggle room, then I might purchase a marinade on sale for $1 which is a good deal. But when my budget is tight, I will spend more time working the sales and seeking the rock bottom price for some of the extras, like a marinade. Overall, I have a simple  organizational system, but you can save more by using your time gathering the information.

Simple Version: Shop the sales at 2-3 grocery stores in your area. Then supplement those purchases with items bought at the least expensive grocery store in your area. You can then compare what you pay at all the stores to find the best savings.

The least expensive grocery store in my area is Aldi. I use their cost per unit as my rock bottom price. I keep my receipts and refer to them when I need to compare deals. For example, the price of sugar at my Aldi is $2.39 for a 5 lb. bag. While at Sam’s Club today, I priced the 10 lb. bag of sugar at $5.95. After a little math, purchasing 2 – 5 lb. bags at Aldi for $4.78 is less expensive than the same weight at Sam’s Club. Having done the comparison, I chose the better deal. I picked up 2 sugars from Aldi while I was there shopping.

Maximum Savings Version: Use a pricing book, which is a journal or notebook that lists the prices you pay for items. When a sale comes along and you snag a great deal, update the pricing list with the lowest price you paid for that item. If you have the time and energy to keep up a pricing book, then do so. This system is more complex and more time-consuming, but you will see deeper savings to your budget.

Whether you choose a simple system or the maximum savings version, you need to have a price list from which to work. Next week, I will use the simple version and walk you through creating your rock bottom price list.

Do you use an organizational system, like a pricing list, to help you compare, have a general idea within $1 or $2, or really don’t care as long as the item is on sale? I’d love to hear how you save money and time as you gather items to feed your family.