PFT #67 - Personal Finance Tip of the Week: Creating Your Own Bulk Purchases Outside of the Store

This week’s topic is about how you can create bulk purchasing power to save money with quality. It is no secret that buying in bulk gets you larger quantities for lower prices.  We typically see this with the big players such as Sam’s Club and Costco and this can also be present with Internet shopping as well.  So this is a great thing; however, many of the products that are sold come in limited product offerings or for a short period of time.  Basically, bulk purchasing is designed for business rather than the consumer.  With that being said you can create this opportunity for yourself.  For example, my wife uses a named brand body wash that costs eight dollars for 16 ounces.  After a simple search, I found a similar all natural product in a one-gallon size that cost $22.  So when the math shakes out, I will get eight times as much product for $12 more. If we break it down further, I went from paying .50 per ounce to .17 cents which is about ⅓ less in cost. Now let's go to grooming. We use a hair spray product called Big Sexy Hair which I like to call BSH.  In the past I paid $19 for a 10 ounces bottle; however, I found a better arrangement.  After a few minutes on the net, I purchased six-eight ounce cans from Overstock for just $43 and I went from paying $1.90 an ounce to .90 cents; or in other words,  I am saving one dollar per ounce and $52 in savings over the course of a year.  So here's the bottom line: you have the ability to save money while getting the same or similar products without sacrificing quality  The key is to purchase items that you will consume within an acceptable timeline so that it is worth the investment.  This is especially important when it comes to perishable items as 40% of all food we produce is wasted.  In my case, I have a one-year supply for two staple products while saving $94 and it took me five minutes to make it happen.  Website   https://www.somethingonmymind.net/ Merchandise https://www.somethingonmymind.net/shop Social Media  https://www.instagram.com/somm.podcast/ https://www.youtube.com/channel/UChec5qcZBcGkIhUU3belNDw https://www.tiktok.com/@somm.podcast?lang=en https://www.facebook.com/somm.podcast https://twitter.com/Somm_podcast