Stockpiling: How to make your money stretchStockpiling: How to make your money stretch vuyelwan Mon, 01/30/2023 - 10:33
The current economic environment demands new ways of doing things. If money makes the world go round, then life has been at a standstill for two years because there is very little or no money going around.
In the olden days, families survived by buying in bulk. Today, people stockpile, which means when an essential product is on sale, they buy as much as they can afford.
Why is it necessary?
Stockpiling reduces your monthly grocery bill over time and saves you money. For example, if you buy a fabric softener refill for R30 every month and it goes on sale for R20 and you buy 12, you will save R120 over 12 months. Repeat this with many items on your grocery list and watch your monthly bill shrink!
What items can you stockpile?
Anything with a long shelf life that will not go off, such as detergents and canned and dried foods. The important thing to remember is to buy things that your family actually needs and uses regularly. Don’t buy for the sake of buying or just because an item is on sale.
How do you build a stockpile?
Building a stockpile is a process; it takes time and patience. It’s impossible to find everything at once, so learn to buy what you can and be disciplined enough to walk away if the deal is not good enough.
How do you know if you’re getting a good deal?You must know your prices to be able to spot a good deal. This means when you walk down shopping aisles, you must look at prices and remember what you see. You can even use your smartphone to do a price check if you think you have found a bargain.
What are some mistakes that stockpilers make?
Buying items they don’t use.
Not applying the first-in, first-out rule. In other words, put newer products behind older products when storing your shopping.
How do you avoid waste?
Make your family your stockpiling partners so they understand why you’re doing it. It’s also important to keep track of your stock, because your family will know that you know what’s in stock and act responsibly.
Ncumisa Ndelu is the founder of One Family One Stockpile, a platform that has more than 538 000 members on Facebook that encourages women to save money through stockpiling.
Facebook: 1 Family 1 Stockpile