Cost Per Unit

Have you ever noticed when you go to the store there are several sizes of the same product? Not even taking into account the competitive brand and the generic brand.
It can be overwhelming, and many people assume it is the same price irregardless of the package size. 
I refer to the real cost of the item as cost per unit. I think this is the commercial name also, I didn't make it up:) To find out the cost per unit some simple math is required. (this makes the teacher in me proud..yes life skills)
If the item is sold based on items, take the total cost and divide by the number of items in the package. See example below.
Example: 
Shoppers Drug Mart had toilet paper  on sale. Yes it was a good price but always remember to determine your cost per unit. Superstore has bigger packages on sale for more money but the price per unit was 0.3325 at Shoppers. OR superstore it is 0.312 per unit.
If you have the coupon from walmart magazine a few weeks ago price per unit becomes 0.270 per unit.

If the items is sold in ml, grams or kg it is done the same way.  Cost per 100ml, 100g will help you decide what brand to buy, as usually 2 competitors sell the similar product in different product sizes.  

This is where it can get fun for a couponer like me.   One would normally assume use the coupon on the highest price package. If you have multiple coupons for a product, it can work out to be cheaper to buy the package that costs a bit more money, but use your coupons. One coupon can only be used for one product, but multiple coupons can be used on multiple products. You may need to do math a few times when using coupons, but the savings are worth it!

And if all else fails... look on the shelf! Most stores have this figured out for you in very very tiny font on the price tag on shelf. However, if the item is on sale the cost per unit is on the original price.

These tips have helped our family save money and pay for Disney World two times in 5 years.

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Envelope System

We follow the Dave Ramsey plan pretty closely at our house. Before we started him we followed Gail Vaz-Oxlade and her jar system. 
You can type in all of your personal information and it helps you determine how much money goes in each category.   To explore your personal allocation go to
http://www.gailvazoxlade.com/articles/budgeting/magic_jars.html  
Now we do it in envelopes.  We have an envelope for the following categories:
Date Night
Kid Activities
Power Bill
Frenchies/Clothes
Gas
Groceries
Miscellaneous

Dave Ramsey talks about a cash budget and telling your money where to go monthly.  At the start of each month we put cash in each envelope.  That's the money for the category.  When it's gone, it's gone.
At the end of the month there are a few things you can do if money left over.  You can allow the money to carry over and build up in the category. For example, the Power Bill is due every other month, this one builds up.
Groceries envelope at month end you may realize you have some extra money to do build your stock pile.
Clothing, Gas and Date Night envelopes we don't let build up.
When we did the jars the happiest thing was we had an empty jar purposely for month end. The last day of the month we would dump any left over money into it to be the fun money. This was how we afforded a get away in a neighouring city for a night, or a movie dinner date.
Now we take any extra money and slap it on the mortgage.
If you are saving for something special, say a vacation or a new purse, have an envelope. 
YOU WON'T BELIEVE THIS BUT TRY IT A MONTH AND YOU WILL SEE...
Doing the envelope system makes us feel like we have more money.  It gives permission for us to spend money while keeping an eye on the prize.
Good luck and comment below if you have tried these strategies and share your success stories.

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Note Pads

Here is a little secret about me....I love making lists.
Daily I take notes of things I need to do for the day. I also take notes daily about my long term goals.  I find writing quick notes helps me stay on task, and focus on the big picture.  I also am a visual learner. If I make a note of an item, it helps me remember the item later on.   And lastly, I feel I have  ADD and always need to multi-task.  Recording on paper helps me focus.
All these things means I use a lot of paper.
I save all paper that is blank on one side instead of putting them in the paper recycle bin.  I shove them in a large envelope until I have lots.
When I have a stack I cut the papers into various sizes. Usually half and 1/4 of the sheet I cut the paper and staple them together to make note pads. I strategically place them around my home and my classroom.
I keep some papers in an envelope for my children to use  for drawing. Anyone with kids knows how much money one can spend on paper!
After I am finished with my note paper, I rip it into little pieces for my recycle bin.

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Groupon...a new trick

I love Groupon. Before I make a purchase for a restaurant, activity or hotel I search Groupon first.
Log on to airmilesshops.ca first and search Groupon.  This will help you collect air miles on your purchase.
Recently I was searching out a hotel room for Niagara Falls.  I found a hotel that I liked and a price I was comfortable paying.   Just before I clicked to buy I logged in New York as my home city by accident.   The same offer for the hotel I was just about to purchase was much cheaper in American dollars.   I bought it, even with paying the exchange rate I saved $120 Canadian from my original price I was willing to pay!  
My air miles were also awarded.
Take an extra 5 minutes and after you find the Groupon you want to buy and play with other home cities and see if there is a difference in price.  I have never earned $120 for 5 minutes of work that was well worth my time! Happy shopping.
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Keep your receipts

Our house tries to run on a gift card budget whenever possible.   I have mentioned before the importance of keeping your receipts for your purchases. Today my husband tried to use one of our Canadian Tire gift cards and it didn't work. Although it is frustrating, the money isn't lost. He went back to Sobeys and showed the receipt for purchasing the Canadian Tire gift card.   The money was put back on the card as the card and receipt numbers matched up and he was able to make his purchase. Yes, it is an added step but this only happens about once a year. Keep hold of your receipts in case this happens to you.
I know some of you may be thinking this is risky, businesses will take care of you it's ok. Having earned enough miles for free Walt Disney World for next  year makes it worth it to our family.
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