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Buying items in bulk is almost always less expensive per unit than buying a single item. But a great deal in bulk is only a great deal if you eventually save money and spend less. Think of it as a long-term project instead of instant gratification. Here are 5 ways to make buying in bulk work for you.
1. Buy What You Need
When you’re spending more money on things you don’t need, you’re not really saving money. The problem is that some things are items you only need one at a time. The trick is to buy things you’ll eventually use. Things like bath tissue, household cleaning supplies and pens and pencils will eventually be used. If you’re buying a large amount of products for the same price or slightly higher than you’d pay for a single item, it’s probably not worth your trouble. Also be sure to avoid things that look cool but have no place in your home.
2. Share the Load
Buying birthday party supplies or paper products is a good example of something you might not need a lot of often, but still use with regularity. Try sharing the load with friends or family. Maybe you don’t need 72 paper plates that say “happy birthday” on them and 72 cups to match. When split in half, that’s 36 apiece though. It’s manageable for one or two parties a year. Grab a friend and put your heads together. Make a list of what you both need, then split the cost in half. You’ll both have what you need and spend less doing it.
3. Organize Storage Space
One reason why most people don’t buy in bulk is because they’re spending a little more money up front, so they feel like they’re not really saving money. The reality is though that you won’t have to buy it again for weeks or months and the unit price will be substantially less. So what are you supposed to do with the extras until you need them? Get organized. Set up some shelves or cabinets in a place that’s out of the way; perhaps the basement or the attic. Be conscious of your inventory and use it before you buy more.
4. Use Special Offers
Look for specials and shipping discounts. If you’re serious about saving money, do your homework and take advantage of special offers. They’re out there. Some stores offer a free ship-to-store feature or contests and giveaways for shoppers who sign up for their value clubs.
5. It’s Not As Big As You Think
When most people think of bulk products, they think of giant cartons of hundreds of products. Not everything comes in giant cartons so look at the packaging or order information. There may be a unit price with a minimum quantity involved that suits you. Do the math and see if it fits your needs. For help compiling an efficient list, it might be best to consult with someone who has a masters in project management.
Buying in bulk might take a little more effort, but when you shop wisely and plan ahead, it can cut down on your shopping budget. Only you can determine what works best for your household so be selective.
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As you stated, buying in bulk is a great way to save if you are buying only what you need and will use. Good stuff.
Thanks Greg, yea I normally buy in bulk only at Costco but it’s hard to buy only what you need when there’s so much good stuff.
We buy in bulk for staples (cereal, rice, oatmeal, tp), and definitely see the price difference. Thanks for the storage idea!
No problem Anna, yea things you will eventually use/non-perishables are usually good items to buy in bulk.
One of the most important things I stress is to know your prices. If you don’t know the prices of products that you regularly use in your household then you might get stuffed at the cash. There have been times where buying in bulk is the way to go and other times the math just doesn’t add up. Know your prices, do the math and decide from there. That’s how we do it! Cheers
That’s a great point! It’s kind of nerdy but I actually keep a spreadsheet that calculates the price of toilet paper and paper towels. That way I can enter all the variables like number of plies, sheets per roll, etc and see if I’m getting a good deal or not.
Yeah, it would be more comfortable if you can have a space for the things you buy in bulk. Learn how to organize and make use of coupons and sales and you can save a lot of money.
Yea I need to do a better job of organizing my bulk purchases. I have an extra bedroom/walk-in closet though so it’s really easy to just throw all the stuff in there and not worry about it until I need it 🙂
There’s one more thing I factor into the cost of buying in bulk — how long my cash will be converted to mayonnaise or toilet paper or whatever. That cash could have been in stocks or paying off high-interest debt or whatever…
Good point. I think it’s a no-brainer to pay off debt since you’ll almost always be getting an above average return on your money. But I don’t really like the idea of investing in stocks just because you have money lying around. Might have worked well the past couple years but the stock market is volatile.