My mother is a stockpile addict. She always said “You want to save money, stockpile when items go on sale.” She stockpiled everything – grocery, clothes, shoes, beauty products- everything she needed. She had at least 6 months to a year’s worth of stockpile. I was raised on stockpiling and buying items on sale. When I moved in with my husband, I tried to continue this routine of stockpiling to save money. I remember the first time I went shopping with him, I bought 20 toothpaste packs because they were on sale. He was shocked, he was not used to it. It was our first argument: he did not want to clutter our house, I wanted to save money. I was raised this way. He asked“Does it really save money. Is it really worth it?”
We had the following discussion:
Pros of stockpiling
- You don’t pay full price for items you need. Yes, it does save money then.
- You don’t need to run to the grocery store each time you need something. You have it on hand. It saves time. Everybody knows that time is money.
- Less visits to the grocery store saves on gas and car usage. Gas prices are not going down any time soon.
- You are ready for a visit : Imagine your mother in law or your friend shows up unexpectedly.. You can always look in your pantry for something to serve: a drink, a dessert. It does not save money but it saves embarrassment.
- Be self-sufficient: Few years ago, we had freezing rain in our region. The roads were too dangerous. We could not go out for few days on a row. Luckily our stockpile helped us through this. It did not save money but it may have saved our lives
- If you stockpile 20 toothpaste packs, it does not take a lot of space. If you stockpile 20 cereal boxes, you need to have enough room for them. You need to organize them nicely so you can find them easily. This is the biggest challenge of stockpiling: enough space and organization.
- You need special equipment such as racks to organize your stockpile, a freezer for some perishable food. This equipment can be expensive, but it’s worth it in the long run. Let’s say you buy the freezer for $300. It will last at least 10 years. It comes to $30 a year. I am sure when you buy meat half the price; the freezer cost will be covered quickly.
- Will you need these items in the future: think of diapers, clothes. If you don’t use them you can sell them!
- You need cash to create your stockpile. This money can be used on paying debts. Stockpiling takes time and requires extra cash. You can start by allowing a monthly budget for the stockpile ($30) and you adjust when you have extra cash. You don’t have to allow your entire budget to stockpiling.
Stockpiling has its advantages and disadvantages. In my opinion, it is one of the best ways to save money.
Do what works with you, your budget and your family. It does not have to be stressful! I finally convinced my husband that it saves money. Maybe you can convince your partner too. For more tips on how to stockpile, you can visit Thrifty Ninja. She has great tips in her article: Stockpile: top to bottom.