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The other night while on my way home from work, I was reminded of the high cost of convenience. We were in the mood for margaritas, so I stopped by the liquor store to pick up some tequila and mix. As it turns out, they were out of the mix I was after, but I made a mental note of the price.
I then stopped off at the grocery store (a bit out of my way, but not too far) to grab the mix there. When I arrived in the right aisle, I was quite surprised at the price difference… What had been $7.99 at the liquor store was $4.09 at the grocery store. This was for identical items — same brand and same size.
I always assumed that you’d pay a premium to buy the “extras” at the liquor store, but I’d never paid attention to how big the difference was. That extra $3.90 for a bottle of margarita mix equates to a 95% markup at the liquor store vs. the grocery store. Sure, there are instances when it might be worth the added cost, but with a bit of planning you can avoid these extra expenditures most of the time.
Of course, the same can be said of a huge number of items. For example, a gallon of milk costs at least 30% more at our nearest convenience store/gas station as compared to the grocery store. In other words, it (literally) pays to be organized and informed, and to plan ahead.