So, let’s say you find an unadvertised item on sale one day. How do you know whether it really is a good deal?
Setting price points or following a price point list – is the best way to gage whether a price is really a good deal.
What is a price point?
A price point is the highest price that you are willing to pay on an item. For example, my price point for cereal is $0.75 a box. I will not pay more than $0.75 for a box of cereal. When I first started couponing, my price point was $1.50 a box. Each time the price dropped to $1.50 a box – I stocked up. Then as I had a good supply of cereal, I was able to lower my price point – since I had enough on hand to last until the next time it dropped down to that price. Now I have enough on hand that I can wait around for the $0.75 a box cereal deals.
If you are new to couponing, you may not have determined your own price points yet. Lucky for us, Amy at Savvy Shopper Deals has created a printable Price Point List. I have it printed and put in sheet protectors in the back of my coupon binder. It is such a great resource.Image Credit: digitalart / FreeDigitalPhotos.net