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In today’s economic climate, more middle-class families are seeking ways to cut costs. They are engaging in buy-nothing challenges, maximizing their coupon usage, and discovering the benefits of bulk meal prepping. Perhaps most notably, many have turned to dollar stores—like Dollar Tree and Dollar General—for essential items.
Determining which products to purchase at a dollar store versus other retailers can be challenging. To assist shoppers in making informed decisions, GOBankingRates connected with Austin Kilgore from the Achieve Center for Consumer Insights, a think tank focused on financial solutions.
Understanding Dollar Store Pricing
Kilgore explains that many consumers are under the impression that dollar stores offer cheaper prices due to the quality of the items. In reality, the lower price often reflects a smaller quantity. “When you shop at a dollar store, you might find that the unit price is actually higher compared to buying in bulk at warehouse clubs or even standard sizes at grocery stores,” he notes.
While dollar stores can be beneficial for those working within strict budgets, Kilgore advises that individuals with more flexibility can usually find better deals elsewhere. “If your budget is tight and you need a quick solution, a dollar store may be your best bet. However, for optimal value, exploring other retailers is advisable,” he adds.
The Myth of Bulk Buying
Many shoppers automatically assume that bulk purchases are the most economical solution. However, Kilgore warns that this isn’t always the case, especially with perishable goods. “If you can’t consume an entire bulk package before items expire, you might actually lose money,” he cautions.
Smart Dollar Store Purchases
Despite the complexities of shopping at dollar stores, Kilgore has identified several items typically more advantageous to buy there:
Party Supplies
Kilgore recommends dollar stores for party supplies noting that he successfully purchased helium balloons for a family birthday celebration at a fraction of the cost found in specialty stores. Items like gift bags, decorations, and wrapping paper also present excellent value.
Groceries in Smaller Quantities
You might not find bulk packages of pantry staples, but dollar stores are often ideal for smaller groceries such as canned beans or other specific ingredients, which helps avoid waste.
Sports Drinks
If you’re the one responsible for snacks at your child’s sports events, look to dollar stores for competitive prices on sports drinks, especially when buying in smaller quantities.
Disposable Food Containers
Kilgore also suggests looking for disposable items like plastic wrap, foil, and paper products, where lower quality doesn’t significantly impact performance against cost savings.
Cleaning Supplies
Social media often glorifies premium cleaning products, but many dollar store alternatives perform just as well and are manufactured by the same companies that produce pricey retail versions.
Final Thoughts on Smart Shopping
Understanding where to find the best deals can be complex. Kilgore notes that the phrase “it’s expensive to be poor” rings true for many, especially those living paycheck to paycheck. It’s crucial to prioritize spending within your means rather than chasing after the lowest price.
While budgeting advice can be simple to give, the realities of life can complicate matters. “It’s essential to remain focused on your long-term financial goals,” he advises. “Consistency in your approach is more valuable than striving for perfection.”
This article is part of GOBankingRates’ Top 100 Money Experts series, where we focus on expert responses to essential financial questions. Feel free to submit your inquiries for a chance to win $500.
