Value Sourcing as defined by The Money Skinny™ is examining the source of a product to determine if the same product is available at a lower cost or more efficiently.  Recall The Money Skinny™ mission is to save you time and money.  Value sourcing encourages you to take a closer look at where and how you are purchasing products before you spend your hard-earned money.  When you find a lower cost option, the savings accumulate in your wallet.  You probably already use value sourcing.  A simple example of value sourcing is an internet search comparing prices.  Let’s take a look at other ways to apply the value sourcing technique to everyday purchasing.

Value Sourcing Toilet Paper

Office supply stores sell home supplies online under the Cleaning & Facilities Maintenance category.  Toilet paper at a low price shipped-to-home.  Like the Scott 1000 Bath Tissue pictured.  Not having to push a pallet of TP around a warehouse club?  Fantastic.  Convenience at a bargain price is a win-win!  Non-traditional product sources can yield savings.

Additional Toilet Tidbit

My house’s plumbing was snaked by Mr. Crappy.  Actual name.  Not kidding.  His advice?  Only use 1-ply toilet tissue.  Forget the fluffy 2-ply.  It clogs the pipes.  Save the cost of having the drain cleaned.  Purchase only single ply toilet tissue.

Spicy Value Sourcing

Three dollars for paprika?  C’mon.  Four bucks for a micro-container of ground cloves?  Just don’t.  Buy spices at the dollar store.  Specifically Dollar Tree.  The spices are twice the volume at less than one third the price.  Same spices as the grocery store sells.  Perhaps a specialty spice isn’t available at Dollar Tree.  Try Aldi or other discount grocers for low cost spice solutions.

 

Value Sourcing Everyday Expenses

We all use the internet to compare prices on big ticket items like televisions and laptops.  Use the Value Sourcing technique to reduce common everyday expenses.  Save money and time on those frequently purchased consumables.  Once you find a lower priced option, the savings accumulate with every repurchase.  Being smart on small purchases can yield big savings.