How to Get the Most Out of Your Price Book

One of the best tools for wining the war for financial independence is the use of a price book. A price book is a notebook that contains the prices for grocery items that you normally buy.

Wait.

Did I say grocery items? Who says you have to limit your price book to groceries? How about starting a price book for your car? How abut a price book for your hobbies? Not only will having a price book for your other areas of your life make you an informed consumer, you won't have to wonder or try to recall what constitutes "a good price."

Here are some tips for going beyond the grocery store price book.

1. Car. If you are driving an older car, you definitely should have a price book. Oil is a number on priority. Write down the date, store, price and the amount. You can usually gather this information from the Sunday newspaper or circulars that come in your mailbox. If you're shopping at a store like Wal-mart or K-Mart, detour to the automotive section. You might as well take some prices down. Make efficient use of your time.

Also, do you know how much it costs to get your oil changed around town? Start a page for that.

2. The Tools. Get a small memo pad for your purse. Being prepared is not just for Boy Scouts. With a pad and pen always at the ready, you can jot down items you might be interested in later on. This will also cut down on your impulse shopping. You're not saying never; you're just saying not now.

3. Location, location, location. Always note where the stores are located. The same stores could have different prices for the same items based on where they are located. Get to know who has the best sells and which managers will clearance items quicker than the others. One part of your town may have cheaper items or a larger selection. You will not know, however, unless you track it in your price book.

4. Hobbies. Your hobbies do not have to bust your budget. Knowledge in the form of your price book is power. When it comes to hobbies the most important thing is know what you want. Every hobby can get out of hand if you allow it to. You can always want the newest tool, the best pattern, the most sophisticated gadget. And that item that you had to have will just sit in a corner. Your pad and pen will give your hands something to do as you take notes and leave the store. Only buy for specific projects and only after research.

5. Always note the date. Just like the seasons, there are cycles for sales. Knowing these cycles will prevent that I've got to have it or it will never go on sale for this price again. Now I'm a fabric person. A particular store had fabric on sale for a wonderful price. Because I know how they are, however, I know if I wait, it will go on sale again. Then I'll scoop up what I need when I have the money.

So, don't limit yourself to the standard price book for meat and fruit. Use these suggestions to take your price book to the next level. After all, knowledge is power. And by getting a little more specific in your records, you can save a lot more money.