How to set up a price book

Question: You mention using a price book to help you establish a “buy price.” Can you describe how you set up a price book?  I am good at clipping and using coupons, but I have a horrible memory when it comes to remembering prices on everyday items.

Answer: Annette set up her price book using an old binder and loose-leaf paper. She arranged it alphabetically, allowing one page for each of the items we most commonly purchase, from applesauce to vinegar.

Initially, she filled it in whenever she went shopping. She even sent Steve to a warehouse club to gather prices. Later, she updated it from the store ads she received each week.

Titled by item name, each page displays columns headed: date, store, brand, size and price. Eventually you’ll discover that some items are less expensive at specialty, dollar or discount stores than at grocery stores.

Watch your confidence level soar as you become less of a consumer and more of a commodities broker — knowing when a price is great, and buying enough to feed your family for months.

In our new book, Cut Your Grocery Bill in Half with America's Cheapest Family, we detail how we set up our price book and give you an example of the price tracker sheet we used.