I was reading in the Chicago Tribune how people are trying to spend less at the grocery store (no news there) by buying more ingredients instead of pre-made packages of over processed salt, called TV dinners. Working in a grocery store I’ve seen, and used, a lot of the tricks for saving money. One of the tricks people use, as do a lot of you, I suspect, is using the price tag in front of the item.
The only reason I mention this is; while there are a lot of people doing this, there are still a lot of people who don’t. On the price tag, in most stores there are two prices. One is the price of the item, which in large sizes can seem a little daunting, this is where the second price comes in.
The second price is the unit price. This is usually what the item costs per pound, quart, or whatever. The unit cost is usually lower which if you were to compare the different sizes, the unit cost on larger sizes goes down. What this means is that you may pay more in the beginning, but the item will last longer; and in the end you’ll pay less.
This brings me to my next point. My wife and I go back and forth about which brand to get. She wants the brand names, especially when she sees a commercial. My preference is generic. She insists the name brands are just better, but I have to tell her the generic brands are made by the brand name companies. She still has a hard time believing it. Of course, since I do all the shopping, I win.
Challenge: Next time you are in the grocery store, check out the unit cost and see where you might be able to save money.