This post may contain affiliate links. Please read my disclosure for more information.
Saving Money With a Sensible Stockpile
Building a stockpile is a great way to save money on items that you use on a daily basis. I’m sure that you have seen some of the extreme couponing shows that show people who have a basement or garage full of stockpiled items. The problem with this is that they are probably wasting money because they are purchasing more items that they will ever use. The end result is wasting money instead of saving money.
Plus, creating these massive stockpiles takes a ton of time. What you may be gaining in money savings, you are losing in time, and we all know that time is money. This doesn’t mean you shouldn’t start a stockpile, it just means that you should do it sensibly.
When I first started on my money saving mission, I have to admit that I went a little overboard with creating a stockpile. The thrill of buying items for pennies on the dollar and never paying full price for them was a rush for me.
But after a while of doing this, I realized how much time I was spending chasing all those great deals. It just got a bit too much for me, so I decided to cut back. Plus, did I really need 42 tubes of toothpaste on hand? It’s like I thought toothpaste would never go on sale again!
Build a Sensible Stockpile
Don’t get me wrong, stockpiling is a great way to save money by never having to pay full price for items you use on a regular basis. I still have a stockpile, but what I have on hand now, makes way more sense. I am still saving a ton of money and I am not wasting a ton of precious time every week.
If you are looking to save money on groceries, household items and other products that you use on a daily basis, then creating a sensible stockpile is the way to go.
Find a Dedicated Location
The first thing you should do is pick a dedicated location in your home to store your stockpile. It could be a closet or a corner of your basement with shelving.
It should be somewhere that is easily accessible but not in the way of your day to day stock. You don’t want to be pulling out tons of inventory to find what you need in your pantry.
Building Your Stockpile
Now that you have a dedicated location, you are ready to start building your stockpile. You don’t need to go to extremes when building your stockpile. The best way to go about it is slow and steady.
Don’t buy boatloads of inventory every week just because those items are on sale. You can build up a good supply of items by just adding a few products that you found great deals on every week.
How to Stockpile Strategically
Stockpiling is a strategic game, only buy items that you can stock up on at rock bottom prices. Just because something is on sale, doesn’t mean that it is a great deal. Although this will save you money, it is not the best way to make the most of building a stockpile.
There are 4 things you should look into when trying to get the lowest price possible when stockpiling.
First things first (I know this is a no brainer) look for items that are on sale. Every week review all the sales flyers that are delivered to you and see what is on sale. Make a list of items that you found great prices on that you use regularly.
Just because an item is on sale, doesn’t mean that you are getting it at a great price. One week an item might be buy one get one half off, but a week or two later, it might be buy one get one free, this, of course is the better deal.
Many stores have loyalty rewards programs, if you haven’t joined these programs then you are missing out on some great savings. So while scanning those sales flyers you should also check out what kind of loyalty rewards the store may be offering in addition to the sale prices.
Next you should look to see if there are any coupons you can add to save more money. You don’t need to go to extremes and buy a bunch of weekend newspapers and cut out every single coupon.
You don’t even necessarily need to buy the weekend paper. There are other options that are fall less time consuming. For instance, a lot of stores have load to card type coupons. You simply visit the stores website and pick the coupons that you want and they are loaded directly onto your loyalty cards. This is a real time saver, no more clipping and organizing coupons!
Another option is scanning coupon sites like Coupons.com or SmartSource.com. Simply look through the coupons they have available and only pick the ones that you can match up with the sale items you are planning on buying.
Money Saving Apps
Lastly you should check out rebate apps like Ibotta and Saving Star to see if they have any offers for the items on your shopping list. What I love about these apps is that you can stack the rebate on top of coupons and loyalty rewards to get the best deals possible.
You can read my Top 10 Money Saving Apps post for more ways to save without couponing.
More Tips to Sensible Stockpiling
Only Buy What You Use
Just because you can buy items at rock bottom prices, doesn’t mean you should if you are never going to use them. Take for instance you find a great deal on cereal, say .50 cents a box.
This is awesome deal but only if it is for the kind of cereal you or other members of your family like. If no one likes the cereal you buy, then you are wasting money buying it.
Don’t Go Overboard
I know it can be tempting to buy everything you can at great prices. But is it really necessary to buy another 10 tubes of toothpaste if you already have 42 tubes sitting in your stockpile? Trust me, toothpaste will go on sale again!
Only buy the amount you are going to need to last you for a certain period of time, three to six months is a good timeline to shoot for. There is no need to buy 5 years worth of products just because you can.
Organizing Your Stockpile
Keeping your stockpile organized will keep you from wasting money. By keeping your stockpile well organized, you will always know what you have on hand and what you need to replenish.
You should also rotate anything that has an expiration date, every time you add product to your stockpile. Make sure to move the items that were there before forward. You don’t want to let things go to waste because they have expired.
Group like items together, for instance, all your canned goods in one spot along with the rest of your food items. The same goes for all toiletries grouped together and so on.
Stockpiling is a great way to save a ton of money but you do not want it taking over all of your spare time and home for that matter. Building a stockpile slowly and reasonably will still save you a bunch of money in the long run.
Do you have a stockpile? Please leave a comment if you have any more tips to share.
Get your FREE EBOOK!!
20 Ways to Improve Your Finances in Under 20 Minutes