I quick review of my weekly outgoings revealed that a significant proportion of my money was being utilised by my grocery bill. The amount was actually quite surprising, considering that I am buying only for myself and a cat.
My review further indicated that I was shopping on almost a daily basis. This practice in itself is not productive. I would buy small volumes of items I needed and invariably, there was one impulse item or another that I bought. If I was strong and avoided everything else, the pull of the confectionary aisle was always too strong. I’m still waiting for the day that since finds that excessive intake of chocolate is healthy. Until then, I try to avoid consuming too much for my waist line and my wallet.
Back to the main point, the daily visit to the supermarket was a waste of time, petrol money and I was paying a premium by purchasing items in small quantities. On the whole, the larger the quantity, the lower price you pay per kilo/pound. It therefore is more cost effective to buy in bulk.
The definition of bulk will vary for each person and their situation. For instance, buying 40 rolls of toilet paper might be practical for a large family. For me, 40 rolls of TP would last me an eon, in addition to being a lot to store. Conversely, I could probably get away with buying am individual toilet roll but it would not be very efficient financially. You have to strike the balance that works for you.
For the most part, I find that buying bulk has the largest impact with meat products, which tend to be one of the higher ticket items in my basket. I won’t buy a whole cow or 10 chickens, only an amount that will last me 4-5 days. The larger packs are usually less per kilo and it is easy to save several dollars per shop by purchasing bulk quantities.
As indicated, I only shop for 4-5 days of meat product. Ideally, larger quantities that would last me much longer would be financially better practice. I have a quirk though that I think that freezing meat effects the product. For a ‘normal’ person, buy much more!
I have started to apply a bulk buying philosophy to my grocery shop. I am confident that I should be able to reduce my grocery bill by 20%, in addition to the abovementioned reduced petrol costs and savings in time. For someone with a higher quantity demand and has the ability to shop less frequently, I’m certain that 30% or more is definitely achieveable.
One last rule is to use the savings for the purpose of savings or reducing debt. Saving money to include additional items in your shopping basket is not the aim, it’s about reducing the overall grocery bill. Leave the extra money in your own pocket, don’t use it to increase the profits of the supermarket.