Thursday, January 13, 2011

How can you save money if you indulge in stockpiling?

The Following is a Guest Post by RP.

Author’s Bio: RP is a regular writer for various finance related Communities including Debt Consolidation Care. She is a PG degree holder in Marketing and Finance and right now working in a reputed bank as a relationship manager. She is well equipped to write articles on debt consolidation , debt settlement, frugality, savings, economies of states etc.
How can you save money if you indulge in stockpiling?
Stockpiling helps you save loads of money. It is a way to strategically use your coupons to buy items so that you never have to pay full price on everyday items, especially groceries, other household products and personal care items. It is best to stockpile when the cost of the items you need are at the lowest. Stockpiling is when you buy each of the items - which you need - in large quantities when they are cheap so as to save money.
How can you start stockpiling to save money?
In order to start stockpiling you will have to:
  • Decide what your family needs and then make a list of those items. Some of the items that you use daily might include tissue papers, toothpaste, soap, etc. You will also have to decide if you want to stick to any particular brand or if you can switch as and when needed. For example, if you are using toothpaste of a certain brand you may find it cheaper if you switch brands. Some drugstores even offer free toothpaste. So, you need to find out if other brand’s toothpaste will suit you and your family. However, you may not be possible for you to switch brands for all items that you use. You will also have to determine how quickly you finish off these items and how much you will need to buy and stock up so that it lasts at least a month until the sales of the next month.

  • You can also start collecting the discount coupons and wait for the sales. This can be the hardest part because you may even run out of an item before you get an offer. So, if it’s an essential thing that you have run out on, you may have to buy that item using only the coupons. But, if you run out on such items that are not essential for your everyday living, you may wait till you get the best offer. For example, if you run out of some food items that you just love to have but are not essential, you should wait for the discount offers.

  • You should also make sure that you have a fixed place to store your stockpile items in groups. It’s essential to store them at the right place so that they last until the expiration date. You may have a definite place in your house to store items but you may not have that space to store large quantity of items together. In that case try to create some space to store your stockpile items. If you organize your kitchen, it is quite likely that you will be able to invest places where you will be able to stock items.

  • In addition, keep in mind the shelf date of the items you are buying in stockpile so that you can use the items before the expiry; so that you don’t lose money on expired items.  Make sure you rotate your stocks while putting those away in piles. It’s good to store the items in such a way so that the older ones stay in front. This is mainly important for food materials rather than other everyday items like brushes or toilet papers.

As for the food items, it is best to store them in a freezer. So, if you have two freezers, sue one mainly for stockpiled food items. Even such food items like milk, cheese, honey, etc can be stored away for months. Also, make sure to check the expiry date of the items before buying them in large quantities.

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