How to Find a Unit Rate

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When looking for a specific commodity or service, the unit rate is the benchmark that is followed. Shop around to find a unit rate with advice from a registered financial consultant in this free video on money management.

Part of the Video Series: Personal Finance Tips
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Video Transcript

This is financial adviser, Patrick Munro n how to find a unit rate. Whenever you're looking for a specific commodity, be it a product or a service, there's a certain benchmark that is followed, and you know, the price of storage lockers or storage units have a particular rate in mind with that. If you're buying gasoline. You know, the unit of measurement is the gallon of gas and how much it is. Of course, if you're shopping for a home, it also has a unit depending on the particular neighborhood you're looking for, so you have to always be cautious of the prevailing price of the unit or the rate that you're looking for depending on the commodity that you're looking for. So I guess I'm trying to say here, is always shop around. And there are different ways to do that. You can ask experts, you can also look at the Internet for specific measuring technologies to find out what the prevailing unit rate is. This will make you into a savvy consumer and avoid you having pay too much for whatever you're looking for. This is Patrick Munro talking about how to establish a unit rate.

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