Money saving tips have helped many families manage their income and expenditure, particularly in the often difficult times brought about by the lockdown measures across the country. However, it is often difficult to know where to begin with cut backs which do not have a detrimental affect on the rest of life. Many people are looking to make savings, however without compromising their quality of life.
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Britons have taken to the website Reddit to share the one collective way they cut costs and managed to save money in the long run.
They revealed the process of bulk buying allowed them to make savings which added up across the year, and allowed them to shop in a more efficient manner.
When one user asked whether shopping in the wholesaler Costco was worthwhile, several shoppers provided insight into their bulk buying savings.
One wrote: “We do a Costco shop every two to three months. It’s handy for things like: tinned tomatoes, cereal sugar coffeee, meat, baked goods, toilet paper, cheese, milk and fruit and vegetables.
“If you have the storage space, then you can save a lot of money shopping at Costco. But be aware – look at what the current RRP is for most items before a spend.
“Their takeaway food counter is also very good value for money – £1.50 for a hotdog, or £2 for a chilli dog and a refillable soda. And £7 for a 18 inch pizza served hot.”
One shopper stated that although prices could be slightly more expensive for some items, the quality of the products was enough to justify the spend.
They said: “If they are selling it, it will be a decent quality brand and model. I find this great to know, because if you see something that you want, you don’t need to pause for 10 minutes to Google to check if it is any good.
“You know you are not buying junk. Sure, Tesco has a toaster for £12, but the £30 toaster at Costco will last decades.”
And another shopper stated the switch to bulk buying at Costco allowed them to save a substantial amount of money for their large family.
A fourth shopper stated it was easy to make substantial savings in areas one may not first expect.
They wrote: “The fuel is cheaper than a lot of supermarkets can offer – not that it is much of a difference at the moment, but 3p a litre, if you do a lot of driving will mount up over the year.
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“You can also get discounted tyres and glasses if you need them. Well worth it.”
It is important to note that Costco has a membership fee of just over £30 for the year, so another shopper said it was vital for Britons to calculate their spending to see if the price was worthwhile.
Experts have estimated that on average, shoppers can save around 20 percent on their purchases by opting to bulk buy.
This process involves buying more than one would usually need for the week, and potentially shopping for a month, or several months at one time.
Bulk buying can be particularly useful for non-perishable items which can be stored in the home for months or even years.
And warehouses and wholesalers often offer discounts which can enhance money saving tips and tricks.
Research from CBN has also found bulk buying some items could end up saving shoppers up to 83 percent.
When buying in bulk, it is important to make sure all items are used to avoid wastage, and cancelling out money saving.
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