Got milk? Know what it will cost you?

According to an article from Reader’s Digest earlier this year, the average shopper only knows the general price of four items:  Milk, bread, bananas, and eggs.  The problem with this is that if we don’t know the prices of most things we buy, we don’t know if we’re getting a good deal or getting milked out of our money (sorry, couldn’t resist).

With FitFin, you have two ways to keep track of your prices.  You can manually update your shopping list prices as they change.  You can also take pictures of your receipts and attach them to your expenses to refer to later.  What I usually do is add my expense and attach my receipt right in the parking lot of the store.  Then when I get home, I recycle my receipt.  I only keep receipts that I may need later down the road, like big ticket items that may need to be returned.  Some stores allow me to return items using my attached receipts, but some still require an original, paper receipt.

Back to the prices.  Once a week (usually on Sunday), I go back to the week’s expenses and look for prices that have changed.  Since I’ve been using FitFin for over 6 months, prices that have changed usually jump right out (I can also tell right when I’m at the store when a price has changed—a natural side effect of using FitFin!).  I’ll use my mobile phone to pull up receipts in FitFin, then use a desktop computer (or laptop), also open in FitFin, but in my Lists area.  I go into Edit mode on a particular list and update my prices.  This usually only takes me 5-10 minutes because I usually know mentally when prices change just because I’m hyper-aware of prices just by using FitFin.   One thing to note (and this is personal preference):  I only change prices if they go up, meaning that I won’t change the price of something that’s gone on sale.  I like to have the highest prices in there because I like to have a worst-case pricing scenario when FitFin adds up my Estimated List Total the next time I go shopping.  This is a feature unique to FitFin, and it’s valuable to know what I’m likely to spend before I shop.

Sign up for a free account at www.fitfin.com, and you’ll quickly know what you spend on more than just milk, bread, bananas, and eggs.

Knowledge is power, my friends.