Everyone loves a deal. Even the richest among us like to save a buck or two. There’s a euphoria to the whole process. It’s almost as though you’re getting away with something without actually stealing or breaking any laws. Simply put, it feels good.
But how do we know we’re getting the best deal?
This is harder to quantify when you’re talking about non-perishable goods like appliances and cars or service based items such as the building of a deck or pool. Many of us rely on our neighbors to provide a recommendation. This is a tried and true method that works in many cases when you’re needing to buy something or hire someone.
What about an everyday item, like groceries? How do we know we’re getting the best deal when it applies to them?
There’s a simple way to be sure and it’s staring you in the face every time you pickup a bag of chips or a two liter of soda. The price per ounce or unit price.
Using Wal-Mart as our example, the price per ounce is displayed on the yellow tag next to the price of the item. This gives you an easy way to decipher whether the bag of chips for $2.99 is in fact a better deal than the one selling for $3.99.
Oftentimes, a company will sell the same or similar product in a smaller bag or carton. The price is cheaper because you’re buying several ounces less of the item. This isn’t always the case of course, but it’s an easy way for companies to keep their prices down while attempting to have you buy their products.
Aldi is a master at this. They sell Aldi or off branded products with an ounce or two less at heavily discounted prices. This gives them the ability to offer the product at a sharp decrease in price while helping you as the customer feel good about your purchase.
The good news is, when you check the Aldi unit price, it’s more than likely still going to be lower than what you’d find elsewhere. It’s just good to know you can double check.
The unit price also allows you to see how inflated certain brands can be versus others. This allows you to determine whether the extra $2 for the bag of Tostitos is worth more than similar bag of On the Border tortilla chips right next to it.
Personally I’ve never been a fan of helping a company pay for their marketing so I’m almost always going for the off brand.
Exceptions are made of course. If you’re wanting the taste of a Coke or Pepsi, nothing else will do. The tastes of each are unique enough that you’re willing to spend the extra money to get what you want. The trick is to determine which items you feel the need to spend more on while spending less on others. Looking at the tag and the price per ounce, per pound or unit price is an easy way to make that determination.
Of course, you could always ask your neighbor to go with you to the grocery store each week and point out the best deals.
Just be prepared to move.
