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12-30-2009, 08:08 PM #1
Price book. What exactly is that??
I have read several references to a Price book.
People say they make a price book for stores so they know the best prices.
I am not sure exactly what is meant by that statement? Around here the Prego spaghetti sauce that was 1.94 at Target yesterday can have a label of 2.04 today, and 2.29 on Sat.
The labels in other stores change just the same, so I must be missing something.
Are you supposed to be putting down sale prices so you know when another sale comes around if it is better then the last one, or just writing down what you paid for items so you know how much you saved for the year?
I am really confused
- 12-30-2009, 08:42 PM #2
I used to keep a list of the items I regularly buy. I would write down the item amount paid and store bought at. I would list the item with the amount when it was purchased for a very reduced rate. This way I could reference it so that I knew when a good sale was. Since many times an item might be on sale however the cheapest price may be $.50. Have found that some stores only go so low in the price for the same item. My list is not long enough for a book. For me a price book is a list of the basic items I usually buy and the cheapest amount I can purchase each item at. This enables me to know when to stockpile on an item I use often.
Also was using the list to keep track of the items in my pantry and their expiration date. Have not done this in awhile, may start that up again. This way you can use up your stockpile before the expiration date which reduces the amount you may need to throw out.
It is best to keep to only a few stores when comparison shopping since it would get really confusing to keep track of everything at numerous stores.
12-30-2009, 10:45 PM #3
Thank you for the explaination. That makes sense.
I have inventory lists taped to the insides of my storage closets. I can see how having it all in one book might be easier to look at then running around.
12-31-2009, 01:05 AM #4
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I've read about these before and they always sounded to me like it'd take a huge investment in time. How much time do you spend maintaining your price book?
12-31-2009, 06:20 AM #5
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I was first introduced to a PRICE BOOK when I read The Tightwad Gazette by Amy Dacyczyne (aka The Frugal Zealot) in 1993. I have kept a Price Book on and off ever since. Sometimes I would let it lapse, and then realize how much money I was wasting.....so I would bring it back up-to-date.
I keep mine in a Day Runner I got for $2 at Goodwill. I have a zipper pouch for my grocery money, a place for coupons, I keep my on-going list of purchases I need, and my list of things to be on the look-out for, but don't need right now, a pen/pencil and most important, a CALCULATOR.
The time to set it up does take awhile, but it pays HUGE dividends in the long-run on your savings.
If you are on a tight food budget like I am, it makes a difference whether you pay 49-cents for an 11-ounce can of Mandarin Oranges at Aldi, or 79-cents at Dillions. Especially when you use one to two cans per week.
Do you have to keep the prices of EVERYTHING you ever purchase? NO! I keep the most-purchased basic items I buy. Because I keep large quantities of food in my home food storage area, I also keep inventory of some of the foods in my PRICE BOOK. Some things I also write down the use-by dates. Peanut butter is one I have to keep use-by dates in mind and not purchase too many jars ahead. We typically use one 16-oz. jar per month, and knowing that is beneficial information. I currently have 10 jars and the last use-by date is 7/10. So that means I have enough jars on hand to also use for making peanut butter cookies, and other peanut butter goodies, not just for our typical use for peanut butter toast twice a week, and peanut butter sandwiches twice a week. So make it your own and include information that is helpful to you.
One of my stock-up items is coconut oil. Wal-Mart used to be the only place I could get it - $5.58 and now Dillons carries it for $5.49, so I purchase it at Dillons.
A commonly-purchased item you can find a HUGE variation in price in is frozen 100% juice concentrates. Wal-Mart has Old Orchard 100% Juice - Apple/Cherry for 98-cents while Dillons has it for $1.69. Glad I caught that price difference!!!
A Price Book will also help you track when things are more commonly on sale so you can take advantage of lowest prices and stock-up. I purchase most of my nuts when they are 1/2-price (or less) after Christmas. Mustard and ketchup when they are bargains during Memorial Day and 4th of July (grilling holidays).
When whole shell eggs are more expensive per egg than powdered whole eggs (for me, that's around $1.69/dozen), I'll switch to powdered eggs. That will probably happen in January, and then prices will fall again near Easter.
12-31-2009, 06:41 PM #6
I have not yet gone so far as to make a price book per se, instead I rely on memory mostly for things we purchase often. Since we mostly shop the "outside" of the market it's not that hard to do. Where I really need to start keeping track is the nonfood items (cleaners, personal care, etc) that don't get purchased that often.
01-01-2010, 03:57 PM #7
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I use a spiral notebook to track things I buy regularly. If the price is a sale price I note that and the date/week of the month. That way I can watch prices and see how the sales cycle. Really helps to know that my laundry soap is on sale b1g2f every 6 weeks without fail.
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