Posts Tagged ‘saving’
Bulk Buying – Is it Economical
When keeping a close eye on every penny you spend and trying to make sure that each dollar goes as far as it can many people are considering bulk buying. We have all seen the bulk stores in our local cities and towns. The parking lots are often over flowing, but are those people really saving money and are you missing out? The simple answer is yes, if you are smart.
Just like when you go grocery shopping at the normal grocery store you think about what you are buying based on your needs and the size of your family. You would not want to go to a Bulk Supply Store and buy fresh vegetables or other produce related items if there is only you, or you and a partner. You can only eat so many green peppers in a week. Yes, most bulk stores will offer a gallon of milk, and it will be a few cents cheaper… they sell eggs and things which can help you save money.
What about the other items though, and your budget? If you know the cost of the same products at your local store and you have a list of the items you actually need you can save a lot of money buying in bulk most of the time. I want to give you a few examples that I have encountered locally. I know that a case of Pepsi at the local grocery is around $7.00. I know that a case of Pepsi at the Bulk Store is $9.87. Initially you think that the case at the Bulk Store is more expensive, but it isn’t. Actually it costs the same at both places; the case at the local store is for 24 cans, which come out to .27 per can. The case at the bulk store is for 36 and again they are .27 per can. The trick there is that you are getting more in the case so you think you are saving money.
Another example, a case of toilet paper the local grocery has Charmin 12 rolls for 6.99. The bulk store has 36 rolls for $12 something. If you buy the toilet paper at the bulk store you are going to save .24 per roll of toilet paper or $8.64. So it makes sense then to buy toilet paper and other paper goods at the bulk store. You can go and buy your paper products at the beginning of the month, save money and not have to worry about it when you go to the grocery the following week.
I can also give you an example for bread. At the bulk store you can get hot dog and hamburger buns cheaper then what you can get them at the local store. The same holds true for bread and bagels and such. But if you are not going to eat 48 hot dog buns and you don’t have the space to freeze them, you are still wasting money.
I also want to interject a little note here. Your local grocery may offer a bulk food section. Pay attention to the price per pound compared to the prepackaged item in the next aisle. Sometimes it saves you money and sometimes it is going to cost you more.
Another thing to consider is that when you buy in bulk you are protecting the environment. Instead of the waste of packaging materials used to wrap each paper towel, or one package of napkins or one loaf of bread that ends up in a landfill, bulk buying allows more items to be placed in one packaging container.
Buy your staples in bulk, pay attention to prices based on the quantity in the package and you will save hundreds of dollars on year on groceries.
Neil Bartlett is the founder of CheapInsider.com. Cheap Insider provides everyone with Tips and Techniques for saving money and finding bargains. To learn more INSTANTLY grab his FREE report “10 Money Saving Tips”
5 Ways To Cut Costs Around The Home
The world is in an economic crunch and more people than ever are looking for ways to save money. Every penny matters and yet many people do not realize that within their own home there are probably a number of things they can do today to save money. Cutting costs does not mean giving up on the things you love, want, and need. It is important to look at the way you are living and then find ways to significantly reduce your investment. Chances are good some of these items below can be done right now and add money to your pockets.
#1: Appliance Management
One of the biggest draws of money within the home is the use of appliances. Do you hear the television in the background? Do you have fans running or perhaps even have the toaster plugged in? Most people realize the importance of turning off lights in the home, but what about unplugging. You may not realize it but when appliances and other devices are left plugged into an electrical socket, they draw electricity. Therefore, by not only turning them off, but also unplugging them, you will be saving money.
How much can you save from just managing your appliances better? You could decrease your electric bill by as much as 25 percent in some instances. Big culprits are televisions, computers, and larger counter top appliances.
#2: Adjust The Temperature
Another big way to save money is to adjust the thermostat in your home. Did you know that you could reduce your heating and cool bills by as much as 20 percent by simply decreasing your heating temperature by two notches and by increasing your air conditioning temperature by two points? Do you feel the difference between 66 degrees and 68 in the summer, sometimes, but not by much. In the winter, what would the different between 64 degrees and 66? It may mean wearing an extra layer of clothing, but for a savings of 20 percent, it may be worthwhile.
#3: Know The Grocery Bill
While other expenses like your mortgage and utilities may be difficult to reduce, you may find it far easier to reduce your grocery bill. Perhaps you think that you are already doing so? Here are a few ways to reduce this large cost.
• Shop the outside aisles of the grocery store instead of the center. You get more healthy foods and less prepackaged products that cost far more.
• Consider store brands. The quality of store brands has risen in recent years. You may not notice the taste difference but you will notice the difference in the lower bill.
• Do shop the sales, but that is it. When something is on sale, this loss leader is a good bet. Stock up. But, avoid impulse buying during these trips. It could cost you. Moreover, use coupons on top of sale prices to pay half the price or less for the item.
#4: Bundle Services
Sometimes you can save a good deal of money by simply bundling your services. For example, your local cable provider may be running a special that allows you to get your Internet, cable service, and phone service for a fraction of the cost you are currently paying. Find out what special offers are available. Also, talk to your insurance agent and ask for discounts. By having multiple products through one provider, you may save considerably.
#5: Track Spending
Regardless of if the purchase is for the home or if it is for personal use, you should track what you are spending. While most people hate this word “budget” it is one of the best ways to know where your money is going and to help to reduce costs.
Go ahead and try out some of these methods. Chances are good you do not realize just how much money is going out the window in these areas.
For more ways to save, check out 100 Ways To Save Money
