A good way to start to find price points is to do some research. Take a notebook with you shopping and record prices of items you buy often or just want to find good deals on. Go to the stores you normally shop at and record the prices over time. You will slowly be able to see who has the best deals and if you do it long enough, you'll be able to see the sale cycle.
The first item I did this with was diapers. I listed out the different brands and sizes and then spent some time in the diaper isle. Because the sizes/brands have different numbers it was a little difficult, but it let me know that the smaller size (jumbo) is $8.99 at it's lowest price, not on sale (at least in my areas at my stores). Any time I'm in a pinch and have to buy diapers right now I feel ok having to buy if I can get lower than $8.99 (though I prefer to pay LOTS less).
For toothpaste and razors my price point is free or less than $0.50 because I can usually buy them super cheap almost any week. Cereal is under $1 and lately laundry detergent has been around $1. All are items I need pretty much daily, but I can usually stock up on them at a really good sale so my everyday price point for them is really low.
Once you see the prices at different stores and track them, you can decide what you are willing to pay and this can be your price point. This is a little different from my stocking up price. I stock up on items we use a lot that are free or close to free always! Otherwise, for me, to stock up on something it has to be at least 50% less of the lowest price point. I'll discuss stocking up later.
*So, does this help? do you have other ideas or comments? Want to share some price points of your own?
Remember that your price points are not right or wrong, but what works for you! The lower the better :)
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