Familycorner.com defines a price book as, "A price book is simply a list of the items you use regularly and the best prices they sell for in the stores where you are willing to shop. It is an excellent tool for tracking prices, sales and buying opportunities. Prices in a price book should be listed by cost per unit so you can easily compare different size packages from different stores. When you see a deal in the weekly flyer or in the store, you will know instantly if it is really a good deal and worth your time to go out and purchase. Just because an item is on sale doesn't automatically make it a good buy. The regular price at some stores may be less than the sale price at others. Your price book is an invaluable tool to help you determine if a sale is really a deal." Really, I can't come up with a better definition then that.
Your price book can be as complex or as easy as you want it to be. You can calculate price per unit*, or just list the regular price of each item at each of the stores you visit in your area.
If you have an iPhone (which I don't, but DH does), there are several apps available for purchase that take all the guess work out if it. If you are computer saavy, you could do a price book in Excel and print a copy when you go to market.
You can go old school, like I have.
I am in the middle of updating mine- our eating habits change, and products stop being sold, or we choose other products instead. My Vons and Target columns are complete and my Walgreens column is about 1/2 done. I am hoping to get the rest of the sheet completed by the end of the month.
*Price per unit helps you determine if the jumbo sized drum of applesauce is a better deal than a regular sized jar. take a look at the shelf tag- it should give you a price per unit (usually ounce or pound (lb.)). If the price per ounce/pound on the larger container is smaller, then it is a good deal. Here is an example of what the shelf tags can look like:
This is also a great strategy to see if the store brand or a brand that isn't your usual brand is a better deal than what you normally buy.
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