Between food costs being at an all-time high and feeling like you have to choose between getting groceries or paying rent, you may have to get creative when it comes to putting more wiggle room in your budget. Enter buying in bulk.
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Whether you’re stocking up on pantry staples, prepping for the holiday season or simply aiming to cut down on frequent trips to the store, bulk-buying can be one of the better ways to save money and time.
To get you started on the right financial foot, here is a step-by-step beginner’s guide to mastering bulk shopping without going broke.
Step 1: Know Where To Shop
Bulk buying doesn’t just mean buying a lot of things; it means finding places where you’ll get a discount per unit by making purchases in warehouse-sized quantities as opposed to individually priced items. For example, Costco, Sam’s Club and BJ’s are famous for their bulk deals. However, don’t overlook other options like local farmers’ markets, online bulk retailers or even your regular grocery store during a sale or with a coupon in hand.
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Step 2: Determine Which Items To Buy in Bulk & Which To Skip
Bulk shopping is not a one-size-fits-all deal, as some items are better than others when it comes to making big purchases. For example, things that are great to add to your cart are non-perishable items like canned goods, household necessities like toilet paper or frozen foods for meal preparation.
On the other hand, you may want to avoid buying a lot of items that could go bad before you use them or don’t actually save you money per unit. For example, you should skip buying perishable produce as it’s not really saving money if you are throwing that food in the trash after a week.
Step 3: Stick to Your List
Just like with any run to the grocery store, sticking to your list will save you a lot of money and stomachache overall. Savings don’t exist in a vacuum, and just because something is a great price doesn’t mean you should impulse buy it.
Make a list of what you actually need before you go shopping and don’t deviate. This not only keeps your spending in check but also keeps you from making unnecessary or wasteful purchases.
Step 4: Make Sure You Compare Prices
Not all bulk deals are created equal. Get into the habit of looking at the unit price of the item you’re considering, not just the total price. This is where the true savings lie. Savvy shoppers know that determining how much you’re paying per ounce, per item or per unit is the best way to compare deals.
Sometimes, what seems like a bargain in bulk can actually be more expensive than buying smaller quantities, especially if there’s a sale or you have a coupon.
Step 5: Leverage Membership Benefits
If you’re shopping at a membership club, make sure you’re fully utilizing the benefits that come with it. Many stores, such as Costco or Sam’s Club, offer additional discounts on certain products, cheaper gas and even travel deals. Also, don’t forget about coupons. Just because you’re buying in bulk doesn’t mean you can’t use them to increase your savings even more.
Step 6: Remember That Sharing Is Caring (and Saving)
If you are paying for a monthly membership and buying in bulk, chances are you’ll want to make sure you are getting your money’s worth. One frugal tip is to pick a shopping buddy or join a shopping group to split costs and groceries with, as this can double your savings. It’s a win-win for you and your friend or family member, as you can get the bulk price without the bulk quantity if you don’t need that much.
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This article originally appeared on GOBankingRates.com: 6 Easy Steps To Bulk-Buying on a Budget
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