Buying in bulk has lots of perks. It’s a greener way to purchase multiple items, it’s usually cheaper and if you have the storage it makes sense to use it. However, bulk buying can also be a problem. When prices are marked down, it can encourage you to buy more stuff you don’t need and can’t store.
As a smart spender, you should be on the lookout for when something is a good deal, and when it is just a ploy to persuade you to part with more of your hard-earned cash. Here’s what you need to consider.
Bulk Items are Cheaper per Unit
When you are looking to make a price comparison, you should always check the price per unit or the price per kg. This makes comparing the prices easier as you get an even reference point. If the price per unit is lower when you buy more, you could be looking at a good deal.
However, you now need to consider whether this is a good deal for you. For example, there could be a great deal to order online checks in bulk but this is only a great deal if you both need the checks and will use the checks. Finding the lowest price isn’t just about the cheapest per unit, it is also about understanding how much you actually need.
You Need to Find Storage
Another factor to consider before buying in bulk is where you are going to store all your purchases. If you only have a small home, then buying in bulk might be cheaper, but you could end up living in a mess of stuff while you work through it.
On the other hand, if you have a large, empty storage space, it makes sense to use it wisely. Do consider the storage needs of your bulk buys, though, and make sure that space isn’t too hot or cold or too damp for the proper storage.
Perishable vs Non-Perishables
Buying perishable goods in bulk is always a risk. This is because you may not be able to use all your purchase before they expire. Fresh food is one example of a perishable good that is cheaper to buy in bulk but there are ways to preserve bulk food in a sensible, cost-efficient way.
If you buy fresh food in bulk, cook it into meals such as soups, pies, and stews, and then freeze it, you will have a wide selection of what are essentially ready meals available to you for a fraction of the cost.
Non-perishables are much easier to buy in bulk as you know that you have time to use them up. However, if you are limited to storage you need to consider how long you want these items to hang around for. The best compromise is to buy the things that you use fairly regularly in bulk to ensure constant turnover in your home.
In most cases, buying in bulk is a good, money-saving tip, but remember, you should always ask: is this deal good for me?
Interested in learning more bulk shopping options like BJ’s or Costco? Learn more here.