I have been comparing prices for a long time and am able to keep prices in my head very easily, but when I first began looking for ways to reduce my grocery budget I used a price book.
A “price book” is nothing more than a reference guide of the high and low prices of the items you consistently buy.
The information that I found relevant to add to my price book was:
-Price -Date -Size -Quantity -Store
Once you get an idea for what the low price of an item is, you can then set your price point for stocking up on particular items. Price points are nothing more that an indicator of when you will get the most for your money on a purchase.
Here are my price points for some everyday items I buy:
:: $0.69 lb. Whole Chicken
:: $1.99 lb. Boneless Skinless Chicken Breast (Perdue, Tyson and Retail Brand)
:: $1.99 lb. London Broil
:: $2.50 lb. Ground Turkey
$1 or less per pound of dry weight starch foods – pasta, flour, rice
:: $0.31 lb. Muellers, Ronzoni pasta
:: $0.19 lb. Long Grain Rice White Rice
:: $0.66 lb. Specialty Rice
$1 or less on breakfast foods
:: $0.99 per box of cereal
:: $0.10 per cup of yogurt
:: $0.50 for all bread products
:: Free up to $0.99 for eggs
Armed with this knowledge, you too, will be able to determine when to stock-up on items. If you want to make the most of your grocery budget start a price book today. Keep track of the prices you pay for each item by using your grocery receipt and a small notebook.