What To Keep In Mind When Buying Bulk - Money Tip Tuesday

Have you ever run out of something and wished you had bought more when you were at the store? Buying in bulk can often fix this problem. You get more bang for your buck, with bulk prices generally being cheaper than buying the same amount of the item individually.

Plus, you also have a bigger supply and won’t have to go shopping as often. However, there are some items that you do not want to buy in bulk as they just aren’t worth it. Here are some items to put on your bulk shopping list, and some you should remove. 

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Transcript:

Welcome to Money Tip Tuesday from the Making Money Personal podcast.  

First on our bulk shopping list is food. Food can be tricky when buying in bulk, as it can expire if you don’t eat it fast enough. Canned goods are a great food to buy in bulk. When buying them in bulk, the prices are typically 30% percent cheaper than buying them individually. Always check the expiration date on the cans first, as you don’t want to buy a whole bunch of them if you don’t think you can eat them all before they expire.  

If you have a big freezer, buying meat in bulk is a great idea. If you go to a local butcher store, you can get large quantities of meat for cheaper prices than you find in a grocery store. However, you may want to get a vacuum sealer to avoid freezer burn.  

If you drink coffee once (or twice) a day, you should also buy that in bulk. Buying individual bags, pods, or drinks can quickly add up over time. Buying it in bulk is cheaper, especially if you drink a lot. 

Pasta is another food you should buy in bulk. Pasta doesn’t take up a lot of space in your pantry, plus when it is sealed properly, it can last up to two years. 

While not for you to eat, pet food is a great investment when buying in bulk. Chances are you feed your pet the same thing every day, so you know that you will have to keep buying it. Buying pet food in bulk allows you to save money on pet expenses and keep your pet happy. 

However, there are definitely some foods that you should not buy in bulk. One example of this is fresh fruit. Fresh fruit doesn’t last very long, and chances are you won’t be able to eat all of it before it expires. Buying fruit in smaller quantities allows you to eat all of it before it expires. Plus, when buying fresh fruit in bulk, you most likely won’t inspect the fruit to see if it’s good to eat. If you still plan on buying fruit in bulk, try buying frozen fruit, as it will last longer. 

Another food you shouldn’t buy in bulk is nuts. Although it is tempting since they are a lot cheaper to buy in bulk, the high fat content in nuts can make them turn rancid faster. Similarly, spices are another item to not buy in bulk, as they begin to lose their flavor after 6 months. A good rule of thumb is if the food has a close expiration date, don’t buy it in bulk.  

Moving on from food, paper materials are always a great purchase in bulk. Tissues, toilet paper, and paper towels are a great investment, as you will always need them, they don’t go bad, and they are cheaper when you buy them in bulk.  

Likewise, all cleaning supplies are great and cheaper in bulk. This can include laundry detergent, soap, shampoo, toilet cleaner, and even toothpaste.  

However, if there’s an item that you can buy in bulk but don’t use very often, don’t buy it. Just because it might be cheaper in the long run, doesn’t make it worth it. Remember, you still have to store all of this stuff at your house. Only buy what you know you will use. 

If there are any other tips or topics you’d like us to cover, let us know at tcupodcast@trianglecu.org and don't forget to like and follow our Making Money Personal Facebook, Instagram, and Twitter pages and look for our sponsor, Triangle Credit Union on Instagram and LinkedIn to share your thoughts.