10 Tricks to Maximize Your Dollar Store Savings

Many American households have added dollar stores to their grocery roster in recent years, driven, in part, by high living costs and other economic concerns. Indeed, dollar stores are the fastest-growing food retailers in the U.S., according to a joint study from Tufts University School of Medicine and the Friedman School of Nutrition Science and Policy earlier this year.

If you're new to the dollar store world, here are 10 ways you can save more.

1. Work out the actual cost

Dollar store prices can be deceptive. Discount chains may not stock the same size of packages as other stores, which makes it harder to compare apples with apples. To calculate the price per ounce, take the total cost and divide it by the number of ounces.

For example, Dollar General sells a 7.8 ounce box of Kellogg's Corn Pops for $3.75, while Walmart sells an 18.1 ounce box of the same cereal at $5.48. Dollar General's product is $0.48 per ounce and Walmart's is $0.30 per ounce.

2. Check the use-by dates

A few years ago, a couple of dollar store chains were fined for selling out-of-date products, including some medications. One way that dollar stores keep costs down is to hire fewer staff members, which may mean fewer checks on what's in stock. Pay attention to sell-by dates and maybe steer clear of items that don't usually move quickly.

3. Know what's worth buying…and what's not

There's an art to dollar store shopping, and a lot comes down to knowing what's a good value. You'll likely have a good sense of how much the items you buy regularly would cost. If not, use price comparison apps or check the online prices in other stores.

Broadly speaking, think about items where price matters more than quality. I'm talking about party decorations, greeting cards, plant pots, and certain personal care items like hair brushes. When it comes to, say, vitamins, sunscreen, or other items where your health might suffer if the product is substandard, perhaps give it a miss.

4. Avoid name brands…for the most part

If you're looking to save money, look at the non-brand products. Compare the ingredient list with the items you usually buy and if they are similar, give the non-branded product a go. It won't always taste the same, but there's often little to distinguish between them.

Name brands can be hit and miss at dollar stores. You might pick up some great deals, but -- as shown by the Corn Pops example above -- the discount chains don't always come out on top. Here's how a few branded products compare at Walmart and Dollar General online:

5. Avoid impulse buys

Scoring a discount on a product you need is a bargain. Spending money on something you didn't really want or need is another matter entirely, even if it's on special offer. If you want to maximize your dollar store savings, don't let yourself fall into the "it's only a few dollars" trap.

6. Be ready to shop around

Dollar stores often have a limited range of products. That means you're unlikely to find everything you need in your local dollar store. I do a two-stop grocery trip, starting with a discount chain where I pick up the products that are better value. Then I pick up the rest in other supermarkets and vegetable stores.

7. Get extra discounts

Coupons can be a great way to score extra discounts. Be aware that some dollar stores have certain restrictions, such as a limit on the number of coupons you can use in one go. Also, some coupons may not be valid if the packaging size doesn't match. Check out stores' websites and apps for extra discounts, including coupons.

8. Max out your rewards

There are two sides to the grocery-saving coin. One is reducing the costs of the items you buy. The other is to earn rewards on what you spend. Look into rewards credit cards that pay the most on the types of spending you do most. You can stack those rewards with a cash back app to get even more benefits.

9. Timing is everything

Get to the store early to skip the lines and get the first pick of the available products. It's also worth watching for clearance days, as you might be able to get as much as 50% off. Follow your favorite stores on social media to know when those extra discounts might be available.

10. Avoid damaged goods

Take the time to examine goods before you put them in your cart so you don't end up with ineffective cleaning products or food that doesn't taste quite as it should. Dented cans, in particular, can carry nasty bacteria. Some frozen food may be discolored or, if the package is damaged, the food may get freezer burn.

Bottom line

Dollar stores can be a great way to reduce your grocery costs, which means more money in your bank account for other things. Pay attention to what you're buying and what it costs to make sure you're truly getting a bargain.