Purchasing items wholesale can help you to save a vast amount of money in the long run. While you may be spending more upfront, you’ll be saving more in the long run.
Wholesale Stores/Discount Stores
Always check in wholesale and discount stores (dollar/pound shops) in order to see if you can find the product you are looking for at a discounted rate. Make a note of which stores have the cheapest item before purchasing so you can make the most savings.
If you find yourself having to drive far to find cheap items in bulk, your driving costs may actually be your savings, meaning you are not making a saving but rather an extra trip. Therefore always source locally and as near to your home as possible. Or you can make one trip and purchase all your bulk items in one go. Make sure you have enough space in your car to take it home.
Some wholesale stores require you to become a member, however this costs money. Consider if your savings will be greater than the membership, by calculating an estimate of how much you will save and buy. If you will not be making a saving, it is probably wise to look for alternative places where you can purchase in bulk.
While discount stores and wholesale stores may usually be cheaper than your local supermarket, don’t rule it out. There are promotions that run in the supermarket and this can give you an even bigger discount on specific items that you need or cannot find at a discount store.
Cost per Unit
Always see the cost per individual item to make sure that you are saving. Sometimes what looks like a lot of savings may not actually be much of a saving if at all. This is also a good technique to compare the costs of prices against other stores.
Types of Products
Depending on your household you’ll need different items, however try starting with basic products such as loo roll, kitchen roll, detergent etc. Items such as these can be stored for an extensive amount of time and will save you a lot of money.
If you are purchasing items such as mouthwash and toothpaste, there will be an expiry date. Make sure to check the expiry date and estimate if you will be able to use the products before that date. If not, purchase a lesser quantity or do not purchase it at all. It will be a waste of money if you purchase products that you cannot use in the end, this means you’ll end up spending much more money than necessary.
When buying in bulk, you’ll need a space to keep your products. Make sure to record what goes in and out, this way you’ll know what items you need to purchase, and which items you already have enough stock of. If you do not have enough space, consider cutting back on items as you’ll have nowhere to store them.
It may seem overwhelming buying such huge quantities at a time, however soon it will seem much easier considering the amount that you save.