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Did you know that the buy one get one free promos are killing your budget? If you don’t know this simple trick when shopping the store is winning that game. The stores have marketing groups to come up with promotions and ways to market them to make it sound like a great deal even when it isn’t. Here is why this is killing your budget and how to stop it.
Why Buy One Get One Free Promos are Killing Your Budget
First let’s talk the basics of the BOGO sale and what draws you in.
The Bogo Sale
Let’s take a look at one of my local sales papers with a BOGO sale going on. (you can click on the picture to make it larger)
What draws you in most? I bet it’s the huge saving you see, save $4.49 on oatmeal, save $2.49 on sausage, save $2.49 on jelly, save $4.49 on ground turkey. If you buy those 4 items you are saving almost $14. Great deal right? That comes out to about $1.75 an item. Well, thats what the store WANTS you to think. But really it’s not. Here is why.
Why Bogo Sales Don’t Save Your Money
Ok here is the truth. You pay full price for the free item. Well, you might be thinking ‘Well duh Danielle’ Well let me explain this a bit further. You see the Banquet Sausage Links in buy one get one free sale add up there? It says you will save $2.49 with the BOGO sale. That mean you will pay $2.49 for 2 of them, or $1.25 each. But just 2 weeks ago? They were on sale for $1 each! Many times you can find a coupon for $1 off 3 packs as well making you cost just 66¢. So with the BOGO sale you are paying an extra 59¢ a pack. Things like the Jelly I can pick up for about $1 each at Save a Lot, less with a coupon that means I’m paying about 50¢ too much with the BOGO. The cereal I can get on sale with coupon for about $1.50 so I’m paying 85¢ too much with the BOGO.
The biggest place you lose money is with the meat. Boneless chicken breasts go on BOGO at full price of almost $5 a pound, but I can get them for $1.99 a pound every day at stores like Aldi and Save a Lot and on sale everywhere else. So you pay 51¢ too much for every pound you buy.
So how can you rock the buy one get one free sales and come out ahead?
Check your store’s coupon policy most stores let you use a coupon on BOTH items in the sale. So if there is $1 off one Tombstone pizza you can use 2 coupons and get two pizzas for $3.49 instead of $5.49, making them $1.75 each instead of $2.75 each. The deals can get even better if your store doubles coupons. For example on the Welch’s you would be able to use two 50¢ of one coupons ad they would double to $1 each. that means you are paying 59¢ for two jars or about 30¢ each.
Buy One Get One Free Coupons
These are the gold mine in BOGO sales. If you store allows it, and many do. You can use a buy one get one free coupon and get BOTH items free! This is a holy grail of the BOGO sale!
So when you plan to take advantage of a buy one get one free sale, make sure the cost per item is below your stock up price. Also, make sure you know your stock up price!