What Is a Price Book, and Why Do I Need One?

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Prices rise
and fall like the tide, making it hard to know when you’ll find the best deal.
But what if there were a way you could anticipate when and where you might find
the best prices? If you’re prepared to put in the effort, you can craft your
own tool to guide you towards savings.

What Is a Price Book?

A price book is just what it sounds like: a book full of prices. Basically, it’s a record of your previous purchases, when you bought them, where you bought them, and what you paid.

Why Do You Need a Price Book?

Maintaining a price book can make it easier to spot trends and recognize good deals.

As you collect
more data, you may be able to identify sales trends and cycles, so you’ll know
when to shop for the best deals on your favorite products.

A deal book
can also help you recognize good deals when you find them. It can be hard to
remember off the top of your head how much you’ve paid for products in the
past. Having a price book offers you a way to look it up, giving you more
insight into when you should stock up and when you should wait for a better
deal.

How to Organize a Price Book

The best method for organizing your price book is the method that works best for you.

Depending on
your preferences, you might choose to use pen and paper, printable templates,
mobile apps, or computer spreadsheets to organize your information. Digital
options are easier to search, but paper copies can still come in handy.

Additionally, you
can select how to categorize purchases based on your needs and shopping style.
You might organize your book by products, categories, or stores. Whenever you
make a purchase, just enter key information, like the date, store, product,
brand name, size, price, and unit price, in the relevant location.

If you’re a hardcore deal hunter, you might record all your purchases. However, if you’re looking for less of a commitment, you can also just jot down the products you purchase most often. Either option can help you spot deals you might otherwise miss.

Never overpay
again! Maintaining a price book can help you purchase the right products at the
right time to save serious coin.

The post What Is a Price Book, and Why Do I Need One? appeared first on Couponing 101.

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