How to Create Your Own Price Book

A price book can really help you save money. Basically, you use it to record the prices of the items you buy frequently. This will help you to recognize when a food-store bargain is a cost saver and when it is not. You will know the price you paid in the past and it will help avoid costly mistakes. It can help you save money by knowing how much you should be paying for the items that you use the most frequently.

How to Create Your Own Price Book How to Create Your Own Price Book

Your Buying History

Why should the store have the advantage? If you have a customer loyalty card then every purchase that you have made is logged and in the store’s database. They know what you buy, how often you buy it and how much you paid for it. The trouble is, you do not always know. But now you can with a price book. You can log:

  • when you bought
  • where you bought
  • how many you bought
  • what price you paid

How Does a Price Book Help?

You can now see that the prices have been going up and down. It might be time to see if you can get your frequent purchases cheaper somewhere else. Better still, there might be a time of the year when you could stock up because the price always drops then. You could also discover that if you bought in bulk you could save even more money. Businesses use this technique all the time. They can spot a good deal and that is when they stock up.

Creating Your Price Book

There is no hard and fast way to do this and it depends how much detail you want to include. At a minimum, your price book needs to include your regular purchases. People who create price books use:

  • Large notebooks: Each item is given its own page. The price charged in a particular store on a particular day is listed. Each time you look in a different store you can log their price.
  • Small pocket notebooks: This is the most convenient as you visit various stores. You can organize the products in alphabetical order and jot down the lowest price that you find.
  • Computer spreadsheet: Not exactly the most convenient unless you are really hightech. But you can make instant spreadsheet updates and keep a track on prices.
  • Index cards: An ideal convenient and sortable system. It also means you can pull out the cards to match your menus and your master list and take them along with you.

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