Accountability and Responsibility

I’ve always been what you’d call a thrifty shopper. I don’t necessarily clip coupons or skimp on lower quality products, but I do pay attention to what I consume, what I throw out, and what the sales signage REALLY says.

A recent trip to my local grocery store showed me that most shoppers don’t seem to know the basics of saving. For me, saving just US$20 a week means an extra week’s vacation at the end of the year. It is worth it to look deeper at the deals you think you’re getting.

The one big loser I see is when people try to take advantage of the “10 items for $20″ deal. This week it happened to be Chef Boyardee Ravioli cans — we don’t eat those, but the deal was “10 for $10.” If you consume 10, it is a good deal, but many stores will offer you the same individual price on just 1 or 2 cans ($1 a piece). I saw so many families stocking up on 10 pizzas, 10 cans of ravioli, 10 jars of pasta sauce, etc. Many of them figured they wouldn’t get the deal if they didn’t buy the number specified on the sale sign. If the family won’t consume the product before the next sale, they’re reducing their available cash AND using up more storage space that necessary. Even worse, if the items were to expire before used, the 10-20% savings is completely wasted.

Another big loser I see is when items go on sale, but the cost of the item is still not cheaper than buying in another size. They had smaller boxes of cereal on sale at the same grocery store, and I saw large families stocking up. But looking at the sale tag showed me that the smaller boxes of cereal were still more expensive per ounce than the slightly larger box! Comparing the price per ounce is a great way to confirm that you’re really making a savings. If you can use the entire larger box before your next purchase, you might not be saving anything at all by purchasing the smaller boxes, even if they’re on sale. I saw a similar “rush” for small boxes of fish sticks (another item I don’t purchase myself) — the small boxes, per ounce, were much more expensive than the family sized box per ounce, even after the sale as taken into account. The larger box was only 2-3 times the size of the smaller box, and most families could consume the box in short order. The sale sign grabbed attention — and sales — rather than offering a true savings.

Another area that I’ve found some savings is definitely in arranging your buying schedule better. One of my local grocery stores offers a double-coupon Wednesday, but they don’t really advertise it well. It is listed on the back of receipts, and sometimes you’ll see a sign in the back of the store, but most people don’t seem to notice it. I always grocery shop Wednesday, and the store is empty. I can see why they make this day the double-coupon day — no one was there. In the evenings it is still relatively empty.

I don’t spend a lot of time clipping coupons, but I’ve subscribed to a few newsletters that publish coupons that I can use. If anyone knows of a good service for notification of specific product coupons, please let me know. My local shops don’t differentiate between truly clipped coupons and those printed online — the barcodes are the same, and the manufacturer seems to accept them. In today’s purchase I saved about US$12 on coupons I downloaded in 5 minutes, and doubled that US$12 just by moving my purchase date to Wednesday. I also saved the headache of lines and crowds. That US$24 over a year adds another week’s vacation to my schedule, so the few minutes I spend on printing the coupons (and the 1/2 hour I save over the weekend lines) is well worth my time.

Most of this is common sense, yet it seems that the average consumer isn’t taking anything into account. Be cautious of sales signs, be aware that quantities don’t have to be met (check with your store), and also be aware that some savings are losses if you overbuy and put yourself into a cashflow crunch. Always take notice of the minor details — they’re printed there right on the aisle price tag.

A small savings is a huge way to living a more responsible life — putting you more in control of your finances and letting you live well within your means.

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