Saturday, May 30, 2009

The Importance of A Price Book

I was reminded last week why a price book (a list or book where you keep track of the lowest price you've found for an item) is so important. For the past few months on of our local Kroger-affiliate stores (Smith's)has been running 16 oz containers of sour cream for $1.00. Two weeks ago I was in Smith's and noticed the non-sale price of the sour cream was $1.16. Last week Smith's had sour cream on "sale" in their flyer for 4 for $5 or ... $1.25 for 16 oz. Nice, huh?

I will admit that I don't have an actual, physical price book. I have a very, very good memory (my husband can confirm that) and so I usually remember what my rock bottom price is for an item. My one pitfall is toilet paper. For the life of me I can't figure out what a good price is for TP! I think it's all the confusion with single/double/triple/big/jumbo rolls -- I've almost just given up on finding the bottom price and just buy it at Sam's. I used to get the 4 pack of Cottonelle ($.99 for 4 single rolls and I'd use a $.50 or $1.00 coupon), but I can't find them anymore so I'm back to square one. More than you wanted to know, I'm sure.

There are numerous free printables available to keep your price book here and here for example.

I think if I had one, I'd start by writing down the prices of products I buy each week when I shop. Then I'd go in and adjust the price down (including the date and where I bought it)when I found a better price. I don't think it's vital to write in the price every single time you buy the product as it's just a reference, but some people may want all that data (it just makes my head spin).

1 Thoughts From Others:

Chief Family Officer said...

I totally agree - it's so important to know the best price on things so you don't overpay! Although, my memory is like a sieve since having kids, so I do need to have certain things written down since it's taking me longer to memorize things :)

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