Price Per Ounce – The True Value of Your Groceries
This one tip can really help save you lots of money on your groceries and other household necessities. It is simply about becoming in tune with what things cost per ounce (or per unit). This can require a slight shift in thinking. The common misconception is that there is a greater value in bottles or packages that are larger. But that’s not always the case. Occasionally a store will put the smaller size on sale for a better value than the larger size. Or with using coupons you can get the price per ounce down even lower on the smaller item.
The trick is to get the most product for the lowest amount per ounce. To figure this you simply divide the total price by the number of ounces in the product and you get the cost per ounce. You can also figure the cost per unit if you prefer. This is better for things like packages of individual-sized soda, juice, and chips. Instead of figuring the total number of ounces, you would divide the price by the number of units in the package and find a price per each individual item.
It really can pay off to study the different sizes offered and figure the price per ounce. Some grocery stores are even making this easy and printing the price per ounce directly on the shelf label. If your store doesn’t do this, carrying a small calculator can help you quickly figure out the price per ounce on any item you are buying.
Occasionally a manufacturer will offer a larger amount as a bonus amount only offered on certain flavors or scents. Generally the price is the same as the normal price and it is advertised on the packaging as a certain percentage more for the same price. This can be a great way to get an even lower price per ounce. So if you are indifferent to the type, check out the other product to see if there’s one available with a bonus size.
Also, another place to think about price per ounce is in terms of ordering food or drinks when you are away from home. Some simple pre-planning can help you save lots of money. I’m not suggesting you should never eat out or order drinks away from home, but you are certainly paying a premium when you do this. For instance let’s say you get a 16-ounce orange juice from a fast food drive-through. The price is $2.09. This means that the cost per ounce is about 14¢. If instead you buy a can of orange juice concentrate at the store, it makes 64 ounces of juice. Usually this costs approximately $1.00 for a can of orange juice concentrate. That is less than 2¢ per ounce!
So if you are accustomed to going through a drive-through on the way to work in the morning and picking up coffee or juice or something like that, I would encourage you to calculate the price per ounce and see what you are really paying for that. You could simply make orange juice or coffee at home and use a travel cup.