BUY IN BULK TODAY, THANK YOURSELF TOMORROW
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If you haven’t already realized from previous posts, here at Plastrd, we love to save money. Whether it’s fifty cents here or (wishfully) $100 there, a penny saved is definitely a penny earned. And just like any other life tip, you know it’s only right that we give game to those that are ready to hear it. Here’s yet another way you can save money that you’ve probably never considered before: buying in bulk!
Starting with the basics, according to Oxford Languages:
Buying in bulk, or bulk buying, is the process of purchasing products at a larger quantity, typically for a discounted price.
Larger entities, such as supermarkets and grocery stores practice bulk buying daily, but on a very large scale. Most people are unaware that buying their commonly used items in bulk, at a smaller scale of course, will save them a decent amount of money in the long run.
First, I’ll start by saying that buying in bulk does take a bit of discipline. Change your thinking, change your habits. If you aren’t quite ready to make sound decisions financially, please wait until you are! There’s no rush on your personal financial journey so we’ll be here waiting for you—we promise!
Make a List: Common Items
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Start by thinking of, and listing, each and every item you regularly (every week, two weeks, etc. .) purchase from the store. These items should not be grocery related. However, you can probably apply this to certain groceries, possibly the non-perishables. For the purpose of this article, think more of those household, health, and beauty items you buy often. Make note of the quantity, size or amount you purchase as well. It will also help to make note of how long the item typically lasts before you need to re-purchase it. Here’s our example of a few items:
- Laundry Detergent (105 oz) 2-3 weeks - $20
- Trash bags (80 count) 3-4 weeks - $10
- Dishwashing liquid (40 oz) 3 weeks - $5
- Air Freshener wall plugs (5 pack) 2 weeks - $10
Total≈ $45 (2-3 weeks)
*Prices are rounded up to the nearest dollar amount
We’ve totaled the cost of all four items for any given two to three week period. For our example, we are spending roughly about $90 each month on just those four household items. That’s almost $100 per month or $1,200 per year y’all—it’s very alarming! If you aren’t having this major revelation, it’s probably because you haven’t compiled your own list yet (stop slackin’). Can you imagine a more comprehensive list, with more than four items, including household, health, and beauty products?! Sounds like MONEY! So let’s start saving, shall we?
Price Matching, FTW!
Don’t worry, it’ll be okay. We, too were upset when we realized that we were spending loads of money unnecessarily. There’s no sense in crying over spilled milk though, so it was then that we were determined to save money on the next shopping trip. We started by browsing online stores for the best deal possible. This takes time y’all! Make sure you have time to focus on the task at hand. Here’s how:
- Open your browser and open a tab for each store (for example: Walmart, Target and Amazon)
- Search store for 1 product in a specific size and/or quantity
- Make a note of which store has the product for the cheapest price
- *Tip* Don't forget to include shipping if necessary
- Repeat for ALL items until you have a complete list of the cheapest items and their respective stores
Yay! So you’ve found the best deals and now you’re done, right? Nope! Most people stop at this point, but you can save even more money.
Buy in Bulk
When shopping for your favorite items, have you ever noticed larger sizes or portions for a more expensive price? Have you ever thought to yourself, “Wow, that’s a lot of ____, I wouldn’t use all of that,” or “That costs too much, I definitely don’t need that much ____”? FLAG ON THE PLAY! You’re thinking about it all wrong! Sit back and really think about it. Do you use the item regularly? Have you purchased that particular item more than once within a three to six month period? If either of those apply to you, you should definitely consider purchasing that item in bulk.
When we say “buy in bulk”, we are not referring to you acquiring 7,000 deodorants since you know you’ll need it at some point. We are referring to purchasing items strategically, often at a discounted cost, in order to save money in the long run. When done correctly, you pay more money upfront for a much larger portion or quantity of product, which in turn lasts longer and saves you money over time. Here’s our example:
- Laundry Detergent (150 oz) 2 months - $15
- Trash bags (200 count) 3-4 months - $20
- Dishwashing liquid (130 oz) 4-5 months - $10
- Air Freshner wall plugs (10 pack) 1 month - $19
Total≈ $64 (3-4 months)
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