October 9, 2019
How to Start and Maintain a Stockpile
Have you ever heard of stockpiling? If not, the first words that may come to mind are “junk” or “hoarding.” But stockpiling, from a financial health standpoint, is anything but. Stockpiling refers to your ability to use coupons to buy goods in bulk while receiving the lowest prices. Anyone who grocery shops could benefit from stockpiling.
We're here today to tell you everything you need to know about how to start and maintain a stockpile. We'll answer some of the most fundamental questions associated with stockpiling. After reading this guide, you'll be eager to grab your coupon book and get started.
The most significant component of being a successful stockpiler is knowing when to move forward with a deal. You must research prices beforehand to know what the best prices are. Sometimes, the right price is a particular percentage off of the product. For instance, the time to capitalize on a retail item is often when it is 70 percent off.
On the other hand, some best prices occur when the product reaches a particular selling point. For example, if the price falls below $1.00, you’ll know it’s time to make your purchase. You can use online sites to monitor price changes. Some of the most common include:
SlickDeals Price Tracker
Understand How Long Items Last
You also need to determine the shelf life of your items. If you stockpile perishables and don’t use them in time, you’ll have done nothing but waste money. We recommend making a spreadsheet of the products you wish to purchase and their shelf life. That way, when the time comes to make your purchase, you’ll know precisely when they’ll expire.
The other thing that you should remember is that perishables don’t go immediately from the manufacturer to the shelf at a grocery store. They could already be on their way to expiration when you purchase them. One of the reasons they could be on sale is because their expiration date is closing in. Keep this in mind when you buy your products.
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If you’re worried about your purchase expiring, know that there are some things you can do to increase their longevity. Set aside space in your home for your stockpiled items. Keep this space temperature controlled.
Make sure that it’s not too hot and humid, but that it’s also not too cold. Keeping your products at a comfortable temperature with little humidity will keep bugs out and will increase the shelf life of your products.
Get Creative with Space
As mentioned, you must have space in your home to store your goods. If you have limited space, you’ll need to get creative with how to handle this space. Start by considering if there are other places where you can store your goods. Consider places like:
Once you pick out your space, purchase shelves and other creative storage products that will maximize your space. No matter what you pick, you should have everything in place beforehand. That way, when you get home, you can unload everything quickly. If you don't, you'll have an endless, heaping mess on the floor.
Figure Out Your System
Once you purchase a few different types of goods, your storage room will be full. You’ll find it challenging to keep track of everything that’s inside. You should figure out how you’re going to do so. For example, you’ll likely want to put the products that you use the most in the front, much like they do at grocery stores. Keep heavier items on the floor so that you don’t ruin your shelves.
Another trick is to label the shelves as you put products on them. Perhaps you use broad labels, such as “perishables” and “non-perishables.” Or, you can use more specific tags, like “Kidney Beans” and “Diapers.” There's no black and white answer as to the best way to label your goods. So long as the labels are clear, easy to understand, and work well for you, you should go ahead and use them!
Part of being able to read labels is making sure that you have enough light in your stockpile room. This is also something that you can prepare for before bringing home goods.
One last tip to implement in your system is to designate a point person who can go in and out of your stockpiling room. If you have multiple people going in and out, you'll quickly lose track of the products in your storeroom. By having one person in charge, you'll find it much easier to track your inventory.
Know What to Stockpile
When you start stockpiling, you’ll want to focus on grocery and home goods. But did you know that you could branch out far and beyond that? We recommend starting with these goods, since they’ll have the most coupons and deals, and you’ll find it easiest to keep track of these products.
As you get more comfortable with your system, you can stockpile practically anything. By stockpiling, you’ll always have something on hand. A mini-warehouse, per se. The best part is that you’ll never have to pay full price for anything again.
Start Stockpiling Today
Stockpiling is nothing more than being smart about your purchases. Learning how to start and maintain a stockpile may require a bit of initial work. But once you get the hang of it, you’ll find yourself saving money. You can use this influx of cash to
start a rainy-day fund
save up for your next vacation
. Whatever your financial goals may be, use our tips on how to start and maintain a stockpile.