Oh, how your brain must be working overtime to see where you can cut costs and retain more of your hard-earned money! It’s a tough time for many folks and creativity has become the virtue most relied on to help make ends meet.
Buying in bulk is one method that you can use to save money. However, buying in bulk also requires some amount of thought to ensure you don’t overspend while trying to get the best value for your money.
Consider these examples of how buying in bulk can help you and others where it can actually hurt your bottom line.
Buying in Bulk Beneficially
You can buy these items in bulk and actually save money:
- Non-perishable toiletries. Supermarkets and grocery stores often have specials on toiletries like bath soap, tissue and toothpaste, which are either non-perishable or have a very long shelf life. If the dollar value per unit works out much cheaper in bulk than when you buy individually, go for it!
- Cleaning solutions. When you buy toilet bowl cleaners, bleach and scrubbing solutions, they last a lifetime. Imagine how long they’ll last if you buy them in bulk! Typically, new-to-the-market products are specially-priced to get attention, so target those when doing bulk purchases.
- Canned foods. Whether there’s a hot sale on canned tuna or a standard wholesale discount for buying three or more, it always makes sense for you to buy canned foods in bulk. Not only will you save money, but you’ll also have a generous stock in case a natural disaster has you holed up at home!
Note, however, that sometimes even the best bulk bargains can lead to overspending. After all, you only have so much storage space for your bulk purchases.
Splitting these purchases with a friend, though, might be your solution. You could still get a great deal on the groceries you keep and they’ll fit into your storage space.
Not So Smart Bulk Buys
- Perishables with a close expiration date. One rule to always remember is that grocery stores only put perishables on special when they’re close to expiring! Smoked salmon and other things that usually have a hefty price tag are only cheaper when they’re running out of useful life, so avoid buying them in bulk unless you’re planning to use them now.
- Foods you don’t eat. Just because something is a great bargain doesn’t always mean you should buy it. Avoid giving in to the temptation to buy because you’ll likely end up wasting what you buy if you don’t really like it or use it irregularly.
- Unhealthy foods. One thing you should always avoid is losing consciousness of what is actually good for you and what isn’t. If you investigate carefully, you’ll see that many cheaper commodities are unhealthy. Stay away from latching onto those bulk purchases and putting your health in jeopardy.
It’s very easy to get carried away with spending when you think buying in bulk is the way to go. Bulk purchases can indeed be beneficial. However, there are times you could just end up wasting money. Weigh your options carefully before you part with your hard-earned money!