Top Obstacles To Maximizing Savings
Even if you have the best of intentions and are determined
to reduce your grocery costs, you'll face obstacles along the way.
Here are the top obstacles that may keep you from achieving your goals if you let them: - Poor inventory management Maximizing your savings hinges upon accumulating and managing a home inventory of items you have purchased in quantity when their prices were at their lowest. Later, I'll explain how improper home inventory management can lead to higher costs. - Lack of sufficient storage space Your newly-expanded home inventory is going to take up space. If you have too little space devoted to your inventory, you won't be able to buy the quantity of sale items you need to buy. - Failure to conduct price research Comparison pricing is essential to the success of your efforts to reduce grocery costs. Without such research, you'll never know if you are consistently getting the lowest prices. - Ignorance of sales If you don't keep up with the sales at the stores you frequent, you will surely miss out on saving opportunities. Tip: Don't wait until you get to the store to find out what is on sale. Take advantage of sites that publish advance sale information such as Southern Savers. - Failure to buy in bulk Buying in bigger quantities is almost always cheaper. Just remember to always compare sizes using the unit price (the price per ounce, pound, etc.). I'll tell you more about unit prices later. - Unplanned purchases It's only human nature to buy an item or two that is not on your list. Keep these purchases to a minimum by using an organized shopping list such as the one featured on the Essential Spreadsheets page. - Wasting money on fuel Don't let gasoline costs cut into your saving. Have a one-shopping-day plan and stick to it. My research has shown that it costs me an average of $.75 for every five miles I drive if gas is $3.75 per gallon (1 gallon = $3.75 / 25 mpg = $.15 per mile X 5 miles = $.75). Tip: If you really need an item right now, it may be cheaper to just go to the closest store, even if it's not your best-everyday-price store, due to gasoline expense. - Lack of self-discipline The effort involved in checking ads, collecting coupons, and constructing lists can be demanding. So it's a good idea to track your savings to show that you are being successful. This will give you the incentive you need to keep going. Tip: Use a spreadsheet like the one featured on the Essential Spreadsheets page to track your progress. - Lack of support from family members Getting everyone in the family to cooperate with you in your saving plan will be essential to your success. Explain to them what you are trying to accomplish and that you really need their help. At first they may resist, but eventually they will see the wisdom in your plan. NEXT: Combatting Marketing Tactics |
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