What is Your Price Point?
I like coupons and I use them frequently, but I always remember my price
point when shopping. My price point is the maximum price I will pay for
a specific item.
Here are some examples.
My goal price for a box of cereal is $1.00, but the maximum price I will pay
for a box of cereal is $1.50. My kids can eat an entire box of cereal for breakfast. I can make pancakes, waffles, or eggs for about a dollar. So cereal is not a good deal for me unless I can get it for under a $1.50.
My max price for spaghetti sauce is $0.75. Coupons for spaghetti sauce
are everywhere and this is also an item that goes on sale frequently.
My max price for individual yogurts (a travel snack for our family) is
about $0.25 a container.
My max price for canned refried beans is $0.30 (any higher and I can
make the dried beans for less)
My max price for soda is $0.20 a can.
My max price for pasta is $0.65 a box
So if I have a coupon for $2 off a $4 box of cereal I won’t buy it. Even
though I am saving $2, I am still spending $0.50 more that my maximum
price. I am not saving money because I can make breakfast for cheaper
than $2.
Track your shopping for a month and decide what you are willing to pay
for items you buy on a regular basis. That way you will be able to judge
whether a coupon or a sale is really giving you the best deal.
Filed under: Food, Frugal living
I’ve been couponing for a few years now, but I never thought to give myself a ‘maximum’ amount I’ll pay for something. I have a good enough stockpile that I try to keep my savings above 50%. But I like the idea of deciding how much I’m willing to spend, max, for something!
BTW, thanks for stopping by my blog. Don’t feel bad about taking so long to sew your garment. My green Christmas shirt was one I started back in the summer. I finished it just about a day before Christmas. And I can’t tell you how many UFOs (unfinished objects!) I have in my sewing room now, LOL!
That is a great post! Instead of trying to come up with a price book, this would be much easier. Just a max price book!
Thank you! I really think that makes alot of sense! I have not put a max price on our everyday items, but I see the value of knowing it so I can determine a good deal!
THANKS!
That’s a great way of looking at it! Thanks for the insight.
[...] this point the Mission Impossible theme song is playing in my mind, I am getting the deals, I mean free cereal, how can you beat that? I count out my coupons and hand them to my oldest boy. We move on to the [...]
Oh you sound just like me. I love it!!!