The year 2020 brought with it some strange shopping trends. As shortages and supply gaps abounded, consumers found themselves unable to purchase items they typically pick up without a worry. It seems as if we’re beginning to come out on the other side of those sorts of predicaments; however, no one knows what the next day or week or season may bring. Because of this, you may be tempted to stockpile. But is this an effective shopping method for your household? The answer may be trickier than you realize. Check out my best stockpile shopping tips!
When Not to Stockpile
- You Can’t Cover the Expense in Your Monthly Budget: Borrowing money or putting groceries and household goods on a credit card is never a wise strategy. A wall of toilet paper can’t pay your rent or your light bill. Even though it might be tempting to have the security of not running out of a particular item, if you don’t have the cash income to cover the cost, skip it.
- You Feel Panicked in the Store: I can still remember encountering nearly empty shelves in March of 2020. Even a savings expert like me can be swept up into worry and make emotional purchases. Your stockpile decisions should be rooted in what you have at home and what you truly need and use. Don’t let other consumers dictate your spending.
- Items Are Perishable: Keep a sharp eye on expiration dates. If you can’t use what you’re purchasing in full by that number, it’s best to skip it. Keep in mind that many items can be frozen if you have the space at home. This even includes dairy items like milk and cheese.
- You Don’t Have Space: Everything you purchase needs a place when you come home from the store. Too much stuff can actually end up costing you money. So, whatever you buy needs to be organized and in a functional space. If you’re constantly tripping over your haul or can’t find what you’ve bought, it’s not worth it.
When, What, and How to Stockpile
- You See a Competitive Price: Again, only if you can cover the extra purchase with budgeted funds, but if you see a particularly low unit price on something you regularly purchase, it’s not a bad idea to pick up one or two extras.
- You Find Yourself Constantly at the Store for a Certain Item: If you’re a typical consumer, you go into a store to pick up a specific item and leave with much more. With frequent household goods or grocery items we purchase, we can end up making additional, unnecessary buys. For those household items you know you’re going to need, it’s ok to purchase 2-3 extra units to stay out of the store. I actually like using Amazon Subscribe and Save for many of our purchases to get a better price and have items delivered directly to my door.
- Your Calendar Is Busy: One mantra in our house is to “see trouble coming.” If you know your life is about to get crazy, it may be a good time to stockpile. Having what you need at home on hand will keep you from overspending on restaurants and unnecessary items. Typically, I stockpile at the beginning of different seasons including at the beginning of the summer, the new school year, around the holiday season, and at the start of a new year.
- You Have a Gift Card: If you have unexpected funds come your direction in the form of a gift card, you may want to consider stocking up on necessities. I know it’s not nearly as fun as all of the other items you could purchase. But, you’ll feel better about stretching those dollars further.
- You Know What You Use: Soap, toothpaste, laundry detergent, skincare products, deodorant, shampoo, cleaners, OTC medicines and vitamins, trash bags – we all have products we regularly use. It’s not a bad idea to have items like these on hand. Again, you don’t need shelves and shelves but an extra 2 or 3 won’t hurt if you have the space and the cash for them.
- You Know What You Will Eat: I don’t stockpile large amounts of foods because we live in a small home. However, I do keep my Pantry Top Ten well stocked. Spend some time evaluating foods with long shelf lives you regularly consumed. Oats, cereal, peanut butter, pasta, rice, and salsa are all good candidates. Don’t stockpile foods you haven’t eaten before or your family may not like.
Overall, stockpiling can be a useful and helpful tool in your quest to save money. Just be sure to pay cash, organize items where you can find them, and try not to get swept up in a wave of emotion when shopping! What items do you typically stockpile and how do you save even more money by stocking up?
My book is now available: Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After. You can also check out The Debt Free Devotional
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