How to Buy in Bulk in the Right Way and Save Money
US News notes that if you save 10 cents on something you use daily, that's $36.50 in savings per year. Now, multiply that by however many other items you use on a daily basis like toothpaste, soap, shampoo, and laundry detergent. Buying in bulk is a great money-saving strategy that you should definitely factor into your budgeting and spending if you can.
If you’ve never bought in bulk before, it might seem a bit daunting. It’s difficult to know what to buy in bulk, when to buy it, and how much you should be expecting to spend on each item. The goal is ultimately to pay less per unit, but that only works if you’ll actually end up using every item you purchase. Follow our guide on how to buy in bulk the right way in order to save extra money.
Sign Up for a Costco or Sam’s Club Card
First thing’s first. When you’re learning how to buy in bulk, you’ll want to know where to buy in bulk. Costco and Sam’s Club are two of the most popular and well-known places to buy in bulk in the United States.
These wholesale stores require that you sign up for a membership, but if you’re dedicated to saving money (and regularly make purchases for a family of four or more), it’s worth the price. A Costco Card is just $60 a year (or $20 for college students). However, did you know that you can also buy in bulk on Amazon, too? You don’t have to sign up for Amazon bulk purchases, simply browse their bulk section for great deals.
Know What to Buy in Bulk
If you’re shopping for a family of two, chances are that you likely won’t need to purchase a 24-pack of chapstick or ten gallons of milk. The key to making buying in bulk cost-effective is to know what to buy in bulk. What are some of the best products to buy in bulk? Household items that don’t expire are among the best, including:
- Toilet paper
- Paper towels
- Coffee filters
- Cleaning supplies
- Plastic bags
- Office supplies
While you can purchase food items in bulk, this works best if you know you will use the items before they go bad. So, instead of purchasing a ten-pound block of cheese and letting it go to waste, think about more practical food items such as rice, beans, peanut butter, canned fruits and vegetables, and even coffee or bottled drinks.
Split Bulk Costs with Others
If you want to reap the cost benefits of buying in bulk but know that you won’t use all of the items, try splitting the costs with friends or family members. While you can only have one Costco Card per household, you can shop for your friend, for example, and then split the items and the total cost afterward.
To save the most money using this shopping technique, it’s best to look at deals beforehand, calculate the price per item, and figure out whether or not you would be saving in the long run. This is a good thing to get in the habit of doing whether or not you’re splitting bulk costs with others, but it can be especially helpful if you are as it helps each of you budget more efficiently. And, it will help avoid overspending once you’re at the sore. Only purchase what you guys have agreed upon and nothing more.
Be Careful About What You Use
One of the biggest mistakes that people make when buying in bulk seems to be when they buy more than they actually need. Just because it’s cheaper per pound, ounce, or unit doesn’t mean it’s going to be cheaper for you overall. If, for example, you purchase a massive tub of peanut butter simply because it’s cheaper per ounce but don’t ever end up eating all of it, you’ve just wasted not only the food but your money.
On the flip side, it’s also important to be careful about what you use. We tend to use more of something we know we have a lot of. So, if you know that you have 20 rolls of paper towels stored in your pantry, you might be more likely to use way more sheets than you need to clean up a simple spill. Try to avoid overusing simply because you bought a lot of an item in bulk.
Spend with a Savings-Optimized Card
After calculating the costs of buying in bulk at Costco or any other wholesale store, start to think about other ways you can save money while purchasing necessary items. There are plenty of ways to save more, such as clipping coupons or shopping via money-saving apps, but nothing is quite as easy as earning cashback when paying with the Cheese Debit Card.
You can enjoy zero fees when spending and also get cashback and a savings bonus. So, each time you go to buy in bulk, you’re essentially putting money back into your own pocket. Sign up today to get started.