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Another Frugal Repeat for you…
I like coupons and I use them frequently, but I always remember my price point when shopping. My price point is the maximum price I will pay for
a specific item.
Here are some examples.
So if I have a coupon for $2 off a $4 box of cereal I won’t buy it. Even though I am saving $2, I am still spending $0.50 more that my maximum
price. I am not saving money because I can make breakfast for cheaper than $2.
Track your shopping for a month and decide what you are willing to pay for items you buy on a regular basis. That way you will be able to judge
whether a coupon or a sale is really giving you the best deal. Keeping a price book is one of the best ways to compare prices from store to store. I found a free downloadable price book at No Credit Needed.
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{ 28 comments… read them below or add one }
I’ve been couponing for a few years now, but I never thought to give myself a ‘maximum’ amount I’ll pay for something. I have a good enough stockpile that I try to keep my savings above 50%. But I like the idea of deciding how much I’m willing to spend, max, for something!
BTW, thanks for stopping by my blog. Don’t feel bad about taking so long to sew your garment. My green Christmas shirt was one I started back in the summer. I finished it just about a day before Christmas. And I can’t tell you how many UFOs (unfinished objects!) I have in my sewing room now, LOL!
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That is a great post! Instead of trying to come up with a price book, this would be much easier. Just a max price book!
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Thank you! I really think that makes alot of sense! I have not put a max price on our everyday items, but I see the value of knowing it so I can determine a good deal!
THANKS!
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That’s a great way of looking at it! Thanks for the insight.
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Oh you sound just like me. I love it!!!
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Haven’t set a “maximum price” on things yet. Just really hadn’t thought about it that fashion. Man, I have alot to learn in the ways of frugality. I wait until triple coupon weekend, and/or until that item is on sale and THEN hit them with the double or triple coupon.
I will most certainly use the price book. Thank you so much for posting that!
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That is a great idea! Thank you.
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wish i was that strict with myself….
getting there…finally sat down and did a major budget with my hubby (who has agreed to stict to it…we will see)….hope the plan works
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another question to military families who get paid 1st and 15th of every month….do you break your bills and expenses down to weekly or by pay check? that is my biggest challenge..
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a buck or a buck 50 for cereal has got to be difficult to find?? we don’t hardly ever do cereal anymore, because even the off brand stuff is pricey. i don’t get it. surely it doesn’t cost that much to make?!
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TheHappyHousewife Reply:
July 15th, 2009 at 1:20 pm
Yes, it is hard to find cereal for a $1 or $1.50. Especially the healthy stuff. If I find it I stock up – meaning 10 to 20 boxes, lol! But usually we eat a hot breakfast because it is so much cheaper to make.
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i am happy to find cereal for 2.00 a box….we have been cutting it out some too also because of the cost of milk..
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I make my spaghetti sauce – so easy and so much tastier. I love how good my house smells, and you can find tomato sauce and paste very cheap. Would accommodate allergies, too.
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I find it odd that April said things cost more in the South. When we were up in Maryland, things cost more than down here in the South!
I wait until Chicken gets 1.88 a pound or less then buy a whole bunch and put it in our deep freezer. We get it from a place that does not put hormones in their chicken – something that’s rather important to me! The max I pay for chicken is 2.30 a pound and that’s only if we desperately need it and can’t find it on sale.
Lately, we’ve been thinking about ways we can reduce our meat intake without leaving ourselves hungry. We’ve decided to add more beans to things. I have a great recipe for low fat chicken enchiladas. One of the ways we’re going to cut down on the amount of chicken it takes to make it is by adding white beans. Hopefully not only will this cut down on meat intake, it will cut down on how much money we spend!
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Oh, I thought I was doing good to get cereal for $2. I guess I’m spending too much!
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TheHappyHousewife Reply:
July 15th, 2009 at 5:56 pm
Karen-
I don’t think you are spending too much, if that is the price you are willing to pay. I pay more for certain things because we like them better.
Toni
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prices are different everywhere you live….having lived in FL for 13 years and then moving back to VT we see a big difference in our cost of living…with no commisary in site either…..but we choose to move back up here for a better life for our kids and family(all our family is in VT)and it has been so worth it to see them with grand parents, going outside and not worring if someone is going to take them, i can go on and on….
we all do the best we can and yes we probably could all do better but life happens to us all and we just pray that things work out….
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I have never thought about doing an official max price, but I have standards on how much I’m willing to pay for an item with a coupon. Sometimes, the coupon doesn’t give enough savings, so I hold off on that one.
Thanks for the handy tips!
And regarding the lady that asked about military families and how they pay their bills…we pay ours based upon when we get paid. We scheduled the due date of each bill to fall on either the 1st or the 15th. We also made sure that the amount of bills paid for each pay period is close to equal so that we won’t be cash poor on a certain time of the month.
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Hmmm – to get technical, don’t you have to have a price per ounce (or gram, in Canada, where we are:) ).. a 1 KG (2.2lb) box of Mini Wheats is not comparable to a 250g (8 oz??) box of corn pops.
And my children could eat an entire box of cereal in the morning as well, but perhaps if 1/3 of it didn’t end up on the floor we’d be in better shape…
I never realized there are certain grocery items I do have a “max” price I’m willing to pay – perhaps I should extend it to more items. Good idea!
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I have a price point for fruit, and I can’t find any for the price this summer. Seems like it is a lot higher than previous years. Anyone else finding this, too? We live in Colorado.
And Albertsons runs fabulous specials on cereal, and Safeway does, but less often. I just watch the flyers or look online and then stock up. Thanks for all the great tips.
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Paula,
I have recently started living on a military budget. We do the same thing that Tonya does. We set our bills to be due right around the 1st and 15th. We put all our bill money into a separate account so we don’t “accidentally” use it. Also, on the 1st of the month, we move money over specifically for a food budget for the rest of the month which I then continue to break down weekly. So far, its managed to work out pretty well that way.
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If you take the time to make a price book, you’ll know what price points to set for your “must have” items (milk, diapers, ground beef, etc.) based on prices in your area. When you see a great deal, you’ll instantly recognize it and be able to maximize your savings by stocking up on that item.
I was at Super Walmart (ack) yesterday and Coke 2L bottles were 99 cents. I saw plenty of people fill their carts with those bottles and nothing else.
Another useful exercise is comparing the cost of buying pre-made items (spaghetti sauce, for ex.) vs. making it yourself. I make my sauce and have for 23 years. Happy buys it for about what I spend to make mine…she prefers to buy what’s on sale, and I prefer to make what I like best to eat. On the other hand, she makes bagels and I buy mine – we eat far fewer, so it’s more work per unit (bagel) to make them.
I read an article yesterday about making your own fresh ricotta cheese – this, I think I’ll try. It might turn out to cost more than store-bought (it takes a gallon of milk to make about 1 2/3 cups of ricotta) but the taste might justify the price.
Another thing to look at is buying local. (Be a “locavore”!) You may pay a little more for farmer’s market items but that money goes right to the farmer and not to the trucking company, distributor, etc. You know your items are totally fresh. Everyone wins.
(This brings me back to the price book, an excellent way to track prices on a consistent basis. Eventually you find yourself memorizing key prices – pasta, cereal, milk – and you’ll see a great deal from a mile away, I promise!)
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I’d never even thought of doing this. We’re in the process of moving and starting to really pay attention to our budget. This is a great post. I need to walk into grocery stores with a plan. My dad always said, “If you fail to plan, you plan to fail.”
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Setting a max price is a great idea. I’ve always had some unwritten limits, but since I’ve started menu planning & serious couponing (going into 4th week) I’m taking notice of the lowest possible price I can get. I just saved the file & printed a double-sided price sheet so I can record my prices (I was writing them down as I went, but I was not clever enough to actually do something with the info I had).
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I keep meaning to write down my price points, but I’ve never got around to it. Thanks for the link!
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I don’t do very well with coupons because I buy alot of organics(and they don’t seem to have too many coupons for that) and I cook alot from scratch BUT we have a great co-op here where I can buy a laundry baskets size bundle of fruits and veggies for $25 organic or $15 for conventionally grown produce. It has cut our produce costs by about 60%. Research your local area to see if you have one near you.
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Your prices are great and most I can match here in the NW but how do you get canned refried beans for 30c a can. I have found just canned beans for around 60 but never refried, maybe I am missing those coupons since it is just recently that my 2 year old wants burritos everyday for every meal
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hannah….
thanks for the tip…i will do this will be alot easier for me to break it all down. I do have certain bills for 1st and certain ones for 15th but have run into issues with not having enough at end of pay period…now i will if i take the money out and into seperate acct….thanks
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I have a very similar method. I don’t keep the prices in my head though (can’t trust my brain too remember more than is necessary in a day) so I keep a little notebook in my purse. I actually blogged about my “method” here:
http://ahighandnoblecalling.com/?p=266&preview=true
It has been much easier to do it this way. And you are right Toni, some people are willing to pay more for certain things than others. A lot of it is preference! No two grocery budgets are alike!
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How did you come to those maximum price points? I feel like I really want to know the minimum prices on things, but creating a book and tracking it seems like too much work. Do you know of a magical guide out there that already has “maximum price points” already figured out???
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