Stockpiling is a secret of the best money-saving families. Buying items when they are at their lowest prices and holding on to them until you need them just makes sense. After all, why should you pay more for the things that your family needs?
To really save money though, you can’t just stock up on everything. After all, certain things expire or go bad, and there is only so much space for storage. The last thing you need is a bunch of canned goods falling on a guest head when they open the hall closet.
So, stock up to save but do it wisely. Here are three things that are good to stockpile, leaving you with a little extra for emergencies.
Birthday and Holiday Gifts
Most people tend to overpay on their gifts. They may have a set dollar amount in mind, but they frequently go over it because they are rushed and stressed by the need to get a gift at the last-minute. Instead of falling for this common mistake, commit to a different way of doing things. Establish a gift closet in your home. Then when the perfect gift at the perfect price becomes available, purchase it and store it until needed. The next time a gift need comes up, you can skip the store and go shopping in your gift closet.
This is an especially apt strategy if your kids are at that age where they get invited to a lot of birthday parties.
As long as paper goods are stored correctly, sealed in their packages and away from excess moisture or animals, paper goods will last a very long time. That is why they are a good item to stockpile when the opportunity rises to get them free or for a low cost.
The danger with stockpiling paper goods is that it is easy to over do it and stockpile much more than you need. Especially with toilet paper. People tend to feel safer when they have a lot of toilet paper.
When it comes to stocking up on paper goods, it is best to estimate how much stock you actually need. For example, if you family goes through two rolls of toilet paper a week, this means that one of those bulk packages at Costco or BJs with 48 rolls should last about three months in your household.
Food that you use frequently can be stock piled to save money. The strategy here is to practice buying food when you can combine a coupon and a sale that yields the most savings, and it makes sense to purchase enough of that same food and have it available when prices are higher. Higher prices can be do to the item going back to its normal retail price or even rising in cost due to drought, disease, season, or some other economic factor.
Because most food will eventually go bad or expire if not consumed, it makes sense to purchase just enough of a particular food item to get you through until the next bargain. Most sales and coupons are cyclical. This means that by watching carefully (or checking savings websites like ours), you can predict how much of a certain item that you might before the next deal becomes available.