One of the best ways to cut back on your costs is to plan ahead. You should be prepared for any purchase, big and small. I am talking about a stick of butter all the way to the purchase of an automobile. Does that seem excessive? Well, to some, maybe. If you wait until the last minute and are not prepared, you have a very slim chance of getting a good deal. Being unprepared can add an incredible amount of money into your expenses. There are several hacks to keep you on point in planning ahead.
Stock Pile
What is a stockpile and why do you need one? A stockpile can relate to items on hand for emergencies like power outages, hurricanes, tornados, and other emergencies, but can also relate to a backup of your personal items in your pantry. I personally use one to keep “extras” that I’m not yet in need of.
The reason you should consider a stockpile is that you’ll pay lower prices by having items in stock. For example, if you don’t have tomato paste and need it for a recipe that you’re making tonight, it is highly unlikely that you’ll be able to purchase it on sale or have coupons for it. Even though you may not need a bottle of ketchup that day, go ahead and purchase it on sale to keep in your stockpile. That way, when you are ready to purchase ketchup, you just go to your stockpile instead of rushing to the store. You can keep a “look for” list for those items that you may not need right now, but will purchase if you find a good deal. So, you won’t need to pay full price for any items that you use on an ongoing basis. It’s important to make sure that you don’t buy items that are on BOGO every time you see them or you can get bogged down with too many products and potentially have items expiring.
Space for a Stockpile
The first thing that you need to determine is where to keep your stockpile. If you have a small kitchen or pantry, you may not be able to store extra items in your cupboards. Some alternate ideas are storage rooms, closets, offices, garages, or even underneath your bed. My current stockpile is underneath our stairs. However, I’ve used closets and an extra room in previous houses.
How do you go about building your stockpile?
Once you have a place to keep the extra items, it’s time to start building it. Your stockpile should consist of non-perishables and may include items such as snacks, condiments, pasta, cereal, crackers, canned goods, cake mixes, shampoo, tampons, soda, toiletries, toilet paper, paper towels, light bulbs, etc. Items that you use frequently are the best items to be in your stockpile. You don’t want to buy things that you don’t normally purchase just because they’re on sale or even BOGO. It could be a big waste of money, yes-even on sale, if you don’t end up using the products. At the grocery store armed with the flyer (or before online), look through all of the sale items, in particular the BOGO items. Add to your shopping list those common items that your family consumes on a regular basis. Plan ahead to know the items that you need before going to the grocery store. That way, you can check out your stash before heading out and you don’t end up buying items that you already have on hand. I will admit that I have absolutely done this.
To get started on your backup items, focus on only purchasing BOGO items to use in your stockpile. Normal specials are good, but since you aren’t in a rush to buy, you can wait to try to find the even greater deals. This is also the time to pair the BOGO deals with additional coupons. Depending on where you shop, they may have flyers specifically for coupons in store and online. They may even have apps with additional savings. See if you can stack the coupons with the BOGO deals for even larger amounts of money saved. Not all items may go on BOGO, depending where you shop, so on to step two. Step two is to look for sales. It goes without saying that the bigger, the better. For example, if you’re looking for graham crackers, pay attention to the serving size price because sometimes different size options hold bigger deals. $1 off items and regular sales are the way to go if your store doesn’t do BOGOs. And if it doesn’t, you should look around your city to try to find those that do.
Re-stocking the Stockpile
So, once you remove an item from your stockpile to put in your refrigerator or pantry, add it on the “looking” list. So, you’re now on the lookout for BOGO’s and special deals. BUT, you’re not in a hurry. You know that you have to go through the ketchup or whatever else you just took out of your stockpile, and that gives you the luxury to wait to buy another one to replenish your stockpile. It’s also good to note that in some states and stores, even if there is a BOGO deal, they will give you 50% if you only purchase one item. This is always great because my family never went through two jars of mayo before the last one expired. Instead of having to buy two, you can still get ½ off to keep in your stockpile.
If you took my advice and have a second refrigerator or full freezer, you can also capitalize on frozen items. As long as you have the room, stock up on those frozen peas, French fries, and taquitos. Bread, cheese, butter, and even milk also freeze well. For more in-depth information on groceries and freeze worthy items, take a look at Earning Money on Groceries, May 27, 2021 to read about deals and items that freeze well. https://realpamelaferguson.wixsite.com/website/post/earning-money-on-groceries
Large Purchases
Planning ahead also goes for big ticket items. Whether it’s clothing, an iPad, a new air conditioner, or even a car. What about if you have an ink jet printer that is about to run low on ink? You don’t have to wait until it’s completely gone to make the purchase. If you wait, you may be paying full price. This goes for all of your purchases—even electronics. Don’t feel like you need to make a decision immediately. If you need a new phone, ask your provider about any upcoming deals. Wait until the newest iPhone comes out and then buy the previous version at a discount. The key to everything is planning. If you can plan ahead and look at your options, you have the advantage of being able to do your research to see what is out there.
If you’re looking to purchase a high-end item, don’t just purchase the first one you see. Instead, make sure you look at www.dealcatcher.com and www.pricegrabber.com are some of the websites offering rebates, coupons, and even price comparisons between products. It’s good to know if the sale price you saw on that Apple Watch is as good as you think it is. Remember the difference between wants and needs and always try to find the best deals.
**Specifically for clothing, review Clothing Hacks, 4/5/21, to learn about the best time to purchase clothing and how to find incredible deals. https://realpamelaferguson.wixsite.com/website/post/clothing-hacks
The key to all of the purchases you make is planning ahead. Whether it’s the M&Ms that you love or the computer that you’ve had your eye on at Best Buy. Research can be the difference between getting a decent deal and an amazing one. Don’t you want the amazing one? I know that I do. That’s why I take too my time researching items to purchase, but I’m happy to say that I’ve not had any buyer’s remorse because I do my due diligence and feel confident that I’ve made the right decision. Time to get those stockpiles going and break open your laptop to find the best deal you can!
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