It might seem counterintuitive, but one potential way to fight inflated food prices?
Buy more in bulk.
Overall, food prices are up 5.7% over the past 12 months, according to theU.S.
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Bureau of Labor Statistics, with prices for groceries rising 4.7% during that time.
Done right, buying in bulk can help reduce spending,even if youre a household of one.
Weve got the tips you better score high-volume essentials while avoiding the potential pitfalls of buying in bulk.
Lets say a single apple costs 75 cents at the grocery store.
A 3-pound bag containing six apples costs $3.
Purchasing the apples in bulk means youd pay 50 cents for each rather than 75 cents.
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In addition to a lower cost per unit, there are other benefits of buying in bulk.
That means less gas spent driving to the store and fewer opportunities to give in toimpulse purchases.
Youll also have more of your free time back.
Theres an additional environmental benefit if your bulk purchases involve less packaging.
And when buying in bulk, double-check what you purchase wont go to waste.
Stick with products that have a good shelf life that you like and use on a regular basis.
Other savvy bulk purchases are self-care and beauty products like toothpaste, deodorant, soap and diapers.
Dont forget pet food and pet products!
Here are several items that can save you money when purchased in bulk.
First, find the total price of the item.
Second, check the price per unit.
Units could be ounces, pounds, liters, etc.
Most of the time, you could find the cost per unit right on the price label.
Its typically off to the side and in a smaller font.
Next, divide the total price by the price per unit.
Look at the expiration dates on non-food items, too.
For example, fabric softener and teeth whitening strips may lose their effectiveness after a year.
These types of stores typically require a membership to be able to shop.
Membership costs at those three warehouse chains range from $50 to $120 annually.
Look at the cost per unit of that family-size package of cookies or that economy-sized bottle of laundry detergent.
Pay attention to merchandise located on the bottom or top shelves.
Bulk packages arent always found where you normally look.
If you prefer shopping online, Amazon andBoxedare good options for bulk buying.
To save on these transactions, check that your total is over the minimum threshold for free shipping.
Here are five tips to help you get the most out of bulk buying while avoiding potential drawbacks.
Take advantage of coupons, sales and other special deals to reduce your costs.
Consider Storage
Its important to think about where youll store your haul.
Exercise Restraint
Dont be tempted to use up what you have just because its there.
Stick to how youd normally use the item and dont overindulge.
She covers lifestyle topics for The Penny Hoarder.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
