Wholesale shopping may not result in savings

Buying in bulk through wholesalers is not necessarily a clear pathway toward crucial savings, according to one money expert.

Sydney Morning Herald writer Penny Pryor says that a visit to American warehouse Costco - which now has three stores in Australia - may have ended up costing her more than it saved after a marathon evening of purchasing items she had never intended to buy.

"There had only been three things on my shopping list when I went in. Not the 20 items I ended up paying $119 for," Pryor wrote yesterday (November 13) in her article titled Cost Saving Required Caution.

"I suspect you really could go bankrupt saving money," she quipped.

"Is it worth it? Well that depends. You're buying in bulk so it's easy to get caught up in it all."

Pryor added that while discount wholesalers such as Costco offer bargains, it may be vital to also plan ahead and consider sharing products with friends or family.

Some cost-cutting strategies on the other hand are more clear-cut such as your mobile phone plan.

Unlike with complicated breakdowns of shopping lists over the months, you can compare phone plans and come to a swifter and more reliable conclusion as to which one best suits your usage habits.

A switching service is capable of helping you to weigh up different options.

Posted by Eve Gillespie