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 or other smartphone, there are several apps available for purchase that take the guess work out if it. If you are computer savvy, you can do a price book in Excel and print a copy when you go to market. There are several available for download free on the Internet. Google search “Excel Price Book download”.
Your price book can be as simple or as complex and you want it to be. If you are new to the concept of prices books, you may wish to add as much detail as possible, to track your savings to the penny.
Basic information for every price book should include:
Date ( you can date the top of each page or note it somewhere within the columns)
The brand- i.e. Hunt’s
The item- i.e. stewed tomatoes
Size -in ounces or pounds, however the item is listed on the container (i.e. 14.5oz, 2 lbs.)
Price- for the entire package. i.e. $1.89
Name of store- This is helpful if you are trying to find the cheapest price for an item within a range of stores. Is deodorant really cheaper at the grocery store, Target or CVS in your area. Start price book and find out!
Additional info:
Sale price (if any)
Date of sale (if any)
Listing sale information may assist you in tracking when sales occur, and plan your shopping trips throughout the year. Knowing when to stock up on specific items may save you a couple hundred dollars a year.
Your price book will help you determine if that 50-gallon drum of yogurt at Costco is a better deal than the 32-ounce tub from the supermarket. Not all bulk purchases are a better deal.
I have two- one is for stores that I shop for groceries at, and the second is for drugstores and mass merchandisers (for HBA shopping).
My grocery stores include: Vons, Albertsons, Costco (so I can determine what is a good deal), 99 Cents Only, and Target. My local Targets are not Super Targets, but they do have a pantry section, so I can shop for some food items.
My HBA spreadsheet includes Wags, CVS, and Target. I do not shop at Wal-mart (our local Wal-marts are not coupon friendly). I tend not to buy HBA at Costco- they do not accept coupons and have a limited range of brands. When I work deals, I can usually get HBA for free or 80-90% off.
Here are some websites that talk about price books and give examples:
Organized Home
No Credit Needed
Suite 101
Cheap Cooking (this one has a template in Excel!)
Grocery Price Comparison (specifically for those in Ohio- but it may be helpful for others in the US)
Enjoy working on your price books!
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