Hello everyone. Mrs. B here.
There are two tried and true ways one can reach financial independence:
1) increase revenue/income; and
2) reduce costs.
Mr. B and I consistently call our service providers like utility companies and insurance agents to see if there are new promotions or ways to reduce costs, but this post addresses an often forgotten part of cost reduction and that’s cost savings.
We all need stuff. Food, clothing, personal necessities, household goods, etc. It’s true that we could always cut back on buying some of these things or buy generic versions of those items, but I’m not a minimalist and I like stuff. Sometimes high end stuff. And that’s okay. I do however think it’s equally important to get the best price for the goods we are planning to buy (no matter how frivolous or absolutely necessary).
That being said, one very expensive and absolutely necessary item we buy in our house is baby formula. Ya see, in addition to our toddler, we have a new baby barracuda to feed.
We use Similac Sensitive, and while buying in the largest quanity (845 grams) is the best value ($31.99 at Babies R Us (BRU)) , I’ve employed some cost saving tactics to my most recent shopping trip at BRU.
To start, BRU was having a sale on the largest canisters – buy two and save $10, bringing down the cost to $26.99/canister. I also had $10 in BRU rewards (a program in which customers sign up for the free and earn points for each dollar spent). Lastly, I had two manufacturer’s coupons each for $5 off a container of Similac. Typically, these coupons come from Similac or Gerber, etc. directly, giving them your email so they can spam you everyday. But these specific coupons came from a fellow mom whose baby drinks Enfamil (I had coupons for that brand and won’t need to use it). We found each other on a local Facebook page where people buy, sell and swap, and traded said coupons. Win-win. I also picked up 3 gallons of BRU brand distilled water which is $.50 cheaper than the other brand they carry. The icing on the savings cake was a coupon in BRU’s circular for a free Dr. Browns bottle with cute 4th of July artwork (a $7.99 value). All told, what should have cost $81.95, came to $48.10, a 41% savings! Not a bad day’s work.