So many of you asked about my "target price" card: a short list of grocery items and the prices at which I stock up on them.
Here's a perfect example of the pantry principle and price list in action. We have been scraping our last jar of sale-price mayo for a month now, waiting for the right price for a stock-up. We're a Hellman's family, but we also find Duke's to be nearly as good.
This week Hellman's went on sale for $2.50. Duke's was priced even lower, at $1.50 (my target price point). Each jar is good through May 2008, so I bought enough jars to last us until then.
Why buy ahead at this price?
For one, you'll never make a grocery run for mayonnaise! But the savings are not insignificant. Let's say your family uses one jar of mayo each month. For ease of calculation, that's 10 jars through the expiration date of May.
Regular price ($3) - Sale Price ($1.50) x 10 jars = $15 savings
But wait! Let's investigate a common excuse. Why not just buy generic, save just as much, and not store 10 jars?
Generic brand ($1.79) - Sale Price Name Brand ($1.50) x 10 jars = $2.90 savings over generic brand
You can get the brand you really want AND save $2.90, if you have room to store 10 jars. I might not give up a lot of pantry space for a five cent savings per item. Mayonnaise, on the other hand, is both shelf-stable and high dollar. $15 savings plus convenience makes it worth a pantry stock-up for my family.
UPDATED: No sooner had I posted this than Publix marked Hellman's mayonnaise buy-one-get-one-free at $2.23...that's $1.11 a jar! (Of course, I also noticed that the jar had suddenly become slimmer at 30 oz instead of 32!) I'm going to amend my target price card to $1.25 for Hellman's.