Tuesday, April 26, 2011

STEP 9: Starting a Stockpile

A stockpile is started when the price of an item is so low that it's worth it to buy multiples of the item and stock up on it at that price. Stockpiles, despite what you've seen on TV, do not need to consume rooms, garages, or your lives. Here are my personal thoughts on the matter.

First and foremost, before we go one more step, stockpile realistically! Stockpiles are very much worth the effort. They can save you big bucks in the long run and having food on hand like that can relieve stresses related to tight budgets and financial struggles. So I am PRO stockpiling.

That being said, I strongly believe stockpiling should be very strategic and calculated. Sales cycle every 6 months or LESS. This means that when you consider starting a stockpile, you should really only consider purchasing the amount that your family would consume in that time frame because that sale will repeat during that time. Any more and it could easily go to waste and/or take up valuable space from another item you need room for.

Massive stockpiles valued at $45K+ are rather ridiculous in my eyes unless of course you're in the habit of entertaining large parties of people on a regular basis. You must realize that a stockpile requires maintaining. Your stock MUST be organized. Products need to be placed in expiration order as to not let foods spoil before being used. Depending on where you plan to house your stock, you must concern yourself with temperatures, critters, and humidity factors. So while couponing takes time and work, so too will your stockpile.

Sometimes the price is SOOO good, we think to ourselves 'What the hell. It'll never be this good again.' And there we go bringing home 35 of something we know we only needed 6 of. When you're 'paid' to take it out of the store, it's almost a sure bet. We've been there. We understand. However, instead of adding this product to your stock that you know you will never, ever use in it's entirety and, dare I say it, may actually be tossed out, you have some additional options.

You can give some goods to friends, family, and neighbors. Making up goody baskets is a great way to welcome a new neighbor to your 'hood. You can sell your stock at garage sales and/or flea markets. You can donate to your local schools who would greatly appreciate some extra school supplies or pasta for noodle art or rice for other activities. Or you can donate your goods to a local food bank, charity, or military entity. You can also obtain a tax receipt for the retail value of your donation that you can put towards your taxes at year's end and make out like I champ!

So there are the basics and my thoughts on stockpiling. Tomorrow... storing foods!