Food for Thought: Bulk or Retail?
We’ve always had the notion that we save on bulk. Sure, buying bulk really drives cost per quantity down but are we really saving in the long-run? Here’s my two-cents:
Buying bulk is quite advisable for many consumable goods that you often use. You can really save on many items in the month’s groceries if you buy by bulk. Most of these things would be household things like detergents, cleaning solutions and toiletries.
Definitely, it’s not too advisable to stock up on perishable goods since time is against you! You might buy a gallon of ketchup only to find out that it’d take you months to finish it up. Once you open that “Sealed for Freshness” seal, you’ve got a spoilage time bomb in your hands. The more factors that come into play, the more complex your equation for “savings” becomes.
Also, bulk is only advisable if you know how to manage. Most of us only manage stocks by sight, not necessarily by numbers. Thus, we tend to use more than we usually need if we see that we just have plenty on our hands.
Retails definitely are pricier in terms of price per quantity. Retails would mostly work for those things that you don’t really use on a daily basis.
A good budgeting strategy would be to observe your consumption of staple things in your home. Pay attention to the rate and quantities consumed over a time period. From this number you can actually get a good picture on what you really need and how much per month.
Just remember that budgeting is a cycle. After purchase, you should also learn how to manage these “household” resources. Keep within your rates and store them well. You might have saved on price per quantity but if they get spoiled because of poor storage, then that would definitely be a waste.
February 14, 2007 Wednesday at 7:23 am