My Thoughts on: Stockpiling

 
Stockpile: A supply stored for future use, usually carefully accrued and maintained

Stockpiling should be exactly what the definition says.  However, with all of the recent TLC Extreme Couponing shows, many people seem to think that it's mostly just about accruing.  

So I guess a good question would be - How do we know how much we need to stockpile? At what point is it considered hoarding?  Hoarding itself has many negative consequences.  The first is the obvious waste of product.  Not only does food have expiration dates, but so do things like hand soap, toothpaste and lotions.  Another negative effect is that when many people rush out and purchase large amounts of items, the laws of economics may cause the price of certain items to increase because they are now "in demand".  

A good rule of thumb when deciding how large your stockpile should be is to determine how much your family will need in about a 3-4 month period.  Make sure you are well aware of expiration dates when you purchase items to make sure they do not expire before you are due to purchase more.  When you are beginning your stockpile, do it gradually.  Take an inventory of what your family uses, then track the sales as they come out.  Buy these items on sale and with coupons to get the best price. 

Over the next few months, you will begin to see your stockpile begin to grow.  Initially, your savings may not be as great because you are focused on building your stockpile.  With time, however, you will begin to see your expenses will drop dramatically because you will be more focused on buying items for much less than you did.  Why?  Because you will no longer feel the pressure of purchasing items to build your stockpile!

In order to be effective at stockpiling, you will need to pay close attention to sales and have an efficient method of organizing your coupons so that they will be available to match up to the sales.  You'll also want to subscribe to a few of your favorite couponing websites so that you are on-top of the numerous bargains available to you. 

As you create your weekly shopping list, pay close attention to the price.  Are you saving at least 75% off the regular price when you couple the sale price with a coupon?  When you ask yourself this question, you need to take into account what you would consider regular price.  For this reason, you should keep track of prices from several different retailers to help you make this determination.

To help you in tracking what you are buying more often and how much you are paying, you should save your receipts for a few months.  You will then be able to have a better picture of how often you are purchasing certain items.  Make sure you take into consideration whether you are actually using everything you purchase, or are you continuing to add to your stockpile.  

On average, most items go on sale every 3 months or so.  There are some items that will go on sale every 4 to 6 weeks, others that will go on sale every 4 to 6 months.  You will need to keep an eye on these items and restock them in larger quantities when they do go on sale.  Most importantly, you will also need to remember to place your newer product near the back so that the older product is used up first (first in, first out rule in economics).

So, go out and create a stockpile!  But do it in a reasonable way.  Only purchase items you will be using, not just for the sake of hoarding!  There's no need to fill a garage, a spare bedroom, or even a spare bathroom.  Purchase in reasonable amounts that you can reasonably store in your home.