How to Save Money on the Things You Need

I love squeezing pennies. They shit the prettiest quarters when you do it right. One of the main ways I save money these days is by buying in bulk.

Most people don’t buy in bulk. They look at the list of things that they need and buy the smallest, cheapest container of each item that they can.

And every time they do that, they literally throw money away.

The other day I needed a single pound of ground beef. When I went to the store, I discovered that it would cost almost $5 to buy that single pound of meat.

A 10-pound package costs $29.25, so guess what? I bought 10 pounds of ground beef that day.

You see, by paying $30 for 10 pounds of ground beef, I saved $20. How? I saved $20 because I know that, in time, I will use 10 pounds of ground beef. If I had just bought a pound whenever I needed it, I would have spent $50 for the same amount of meat, so by buying the larger pack, taking it home, and freezing it in 1 pound packages I saved money.

When you buy things in bulk that you use, you do have to spend more money upfront, but the savings is worth it. I spent 40% less on ground beef than I would have normally, for instance.

It’s the equivalent of receiving a 40% return on your money, in investment terms.

The next time you’re out shopping, look to see what items you can buy in bulk to save money.

It will save you a fortune.

If you want to know more about saving money, check out my book The Shoestring Girl. Within that book I share the variety of ways I saved money in order to become a stay at home single mother while raising my kids.

Given the way prices are rising, you may need all of the help you can get.

~#~

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I’ve written a lot of books sharing my odd view of life in hopes of helping others. My most notorious book is titled The Shoestring Girl: How I Live on Practically Nothing and You Can Too, but The Minimalist Cleaning Method is pretty popular as well. You can find them at the following places:

Amazon
Barnes and Noble
Apple iBooks
Smashwords (non-DRM)

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Minimalism, Cash Flow, and Turnover

One of the ways that businesses maximize their funds is by utilizing turnover to increase their cash flow.

Instead of purchasing a year’s supply of whatsits in order to make their widgets, they instead purchase just enough to get by for a certain time period like a week or a month.

The store I work at uses this principle. They receive two shipments a week so the general manager strives to order just enough stock to make it to the next shipment. This allows them to maximize their profit by turning over their stock on a regular basis.

It’s not a perfect science. Unexpected bad weather causes runs on such things like bread and milk but overall, in the time I’ve worked there it is quite effective.

Restaurants and other businesses do the same thing. I’ve worked many a time where we had to stretch our supplies through the evening because our truck wasn’t due until morning.

I’ve been thinking about that lately. I’ve always been a “more is better” person. I feel safer when I have stockpiles on hand. I spent so many years in economic uncertainty during my marriage that I tend to stock up instinctively. I did that not too long ago with groceries and I’ve got a stockpile of paper, clothing, and other items that demonstrates that I returned to those old habits several years ago.

That said, I’m beginning to wonder if some facets of minimalism might make economic sense. I can order supplies online on an as-needed basis. I can pick up groceries during my shifts at work. I’ve got an emergency fund established and my income is fairly stable these days. Do I really need to stock up as much now as I have in the past?

In some cases, stocking up makes financial sense. Purchasing melamine sponges (magic erasers) in bulk saved me a small fortune. But in many cases, it might not be as wise.

What if, instead of buying certain items in bulk, I instead purchased them only as needed? I could use the money saved to make more money that way. If the cost difference between buying as needed and buying in bulk is negligible, I may come out ahead in the long run.

I would definitely free up some space in this tiny house if I applied that principle.

I have decided to experiment as a result. I have placed a moratorium on certain supplies I have in bulk like paper, pencils, pens, clothing, and food. I no longer need a large wardrobe since I can now wash clothing on a daily basis and the other items can be quickly attained either online or locally when I need them.

If this girl can conquer her fear of lack, she may be able to not only free up some space around her home but to increase the amount of money she has available for investment each month.

With that thought in mind, instead of purchasing a three-month supply of flea treatment for my pets the way I normally do, I opted instead to purchase just a one-month supply for my dogs. The lone cat we have (Loki died a while back) has enough to last him for a while.

Let’s see what happens, shall we?

How I Made an 82.82% Investment Return on $7.56

One of the smartest decisions I have ever made was to take business classes in high school. I learned how businesses save a fortune simply by buying the items they use in larger quantities instead of as they use them. Unfortunately, this teaching runs counter to how many people manage their finances. They only have so much money until payday that they need to spend on A, B, and C. While they’re at it, they also want to eat out a time or two so instead of stockpiling something they use every day (like bathroom tissue) they purchase just enough to last until their next paycheck arrives.

This is why so many people stay broke. They think short-term instead of long-term in regards to their purchases.

The truth is this: when you purchase items in bulk you can save a small fortune. It doesn’t take a lot of money to do this, either. All you have to do is select a single item that you use regularly and purchase a larger quantity when you run low. Eventually you will amass a stockpile that will save you a LOT of money in the long run.

For instance, I am a big fan of melamine sponges (magic erasers). Add a little water to these beauties and you can clean almost anything without a lot of scrubbing or unhealthy chemicals. Despite the fact that they tear up easily, these little sponges are an essential part of my cleaning arsenal since my time is limited these days due to working a public job, volunteering, and writing.

A two-pack of these sponges costs $1 if you purchase the generic brand at my local Family Dollar so I usually stock up whenever I make it to WalMart since they cost 88 cents for a two-pack there. I realized that I might be able to apply the bulk buying principle to these erasers. I went online and discovered that I could purchase 100 of these sponges at Amazon for $7.59 with free shipping.

I saved almost a day’s wage just by buying them in bulk! If I were to purchase 100 of these sponges at my local Family Dollar I would have spent $50 before tax. If I had bought them at WalMart I would have spent $44. I saved $42.44 and $36.44 respectively as a result.

I don’t know about you but I love having an extra forty dollars in my pocket. I would rather have that money to spend on other items instead of spending it on a single item. This one purchase earned a whopping 82.82% return on my initial investment. Considering that you’re lucky to receive 1% interest on a savings account these days I consider this a major win!

While it might take several years for me to use up that supply of sponges they neither eat nor drink so they will cost nothing to store on my shelf. Even better, I won’t have to worry about the cost of these sponges going up for some time in the future.

Today I have a challenge for you. Instead of spending seven bucks at your local fast food dive for a bunch of unhealthy junk food, why not invest that money by buying something in bulk that you use on a regular basis instead? Shop around for a good deal on an item you use regularly and stock up to maximize your savings. When you’re done, calculate how much money you saved and share it in the comments below.

You will save a fortune.

How to Start Buying in Bulk

It can be a challenge to switch from only purchasing what you need to buying in bulk. Not only do you have to figure out where to put the items you purchase you need to save up money so you can start buying.

I enountered that issue when I resolved to return to my old stockpiling habits here. Money was tight since I was still recovering financially from my injury. I’d also repurposed my old stockpile storage to maximize my living space but with a little shifting of both possessions and finances I made it work.

Create a storage space

You will need to designate a place to store your stockpile. The area will need to be clean, dry, and protected from vermin. A metal shelf in an out of the way spot is ideal if you don’t have a convenient closet or pantry. Try not to store your supplies around water sources in the winter. A broken pipe can destroy a fortune in paper supplies really fast. I learned that the hard way many years ago. I stored my bathroom tissue stockpile beneath my bathroom sink. When the pipes burst I lost a small fortune. Mice and rats can also be a threat to your supplies so make sure you have traps, poison, or other deterrents near your storage areas. I keep the majority of my stockpile on a wire shelf that is kept far enough off of the floor and away from walls to prevent them from climbing onto it. My cats like to help guard my supplies as well.

Start small

Unless you decide to devote part of your income tax refund to the investment your funds will be limited at first. You can overcome this by selecting one or two items at a time to stock up on. I started out by buying a stockpile of bathroom tissue on my first payday. The next payday I laid in a supply of paper towels. Over time as those needs were met I expanded to other items like soap, shampoo, feminine hygeine products, pet food and the like as money allowed.

At first it will seem as if you are spending more (which you actually will be in the beginning) but over time you will begin to reap the savings. As it is, we are now able to make a large purchase once a month or so to keep plenty of supplies on hand.

Take advantage of windfalls

Instead of splurging on treats when a windfall comes, use part of it to increase your stockpile. I use my income tax refund to stock up on all sorts of items and try to purchase enough of certain things to last us the entire year or longer. This increases our money savings as prices tend to rise over time.

Watch for sales

When something you use goes on sale, purchase extra when you can even if you already have a supply on hand. I had recently purchased a large package of paper towels a few weeks before my store offered them on sale but I still purchased some because I knew it would save money in the long run.

Consider online purchases

Online stores will frequently offer closeouts and bargains to online shoppers that aren’t available locally while some offer significant discounts to first-time customers. My daughter stocked up on leggings the other day with this method. She discovered that an online store offered her favorite leggings at a 50% discount to new customers. She purchased several pairs and saved a week’s wage as a result. That was like getting an extra paycheck, especially since the leggings in question will last her for several years.

The savings can really add up, even if you only work for minimum wage like we do.

Use social media

It is becoming common for extreme couponers to offer items for sale in social media groups at a significant discount. Joining these groups can save you a small fortune on your favorite brands.

Keep extra money available

Always keep money in your account to take advantage of unexpected sales. You never know when a local store will decide to go out of business and sell their remaining stock at a HUGE discount. I’ve seen some places decide to sell everything in their store for 90% off or simply have a crazy low price for everything. It is also common for stores to stock up on a bargain that they’ve found and pass the savings on to their customers. Keeping money on hand for these unexpected bargains can save you a small fortune.

What other tips do you know that will help people learn how to stockpile and save money? Please share your stories in the comments below.

The Art of Buying in Bulk

I was taught as a child that buying items in bulk not only saved money when you purchased the items on sale or at a discount, it made life considerably easier because you didn’t have to worry about running out of stuff constantly.

I must confess that over the past few years I questioned that teaching. Minimalist gurus preach expansively against the practice and encourage you to buy only what you need when you need it. I watched my friends purchase just enough supplies to last until their next pay periods and questioned them extensively about the practice, hoping for some tips. While some of them touted the benefit of having the ability to switch brands on a whim and keep up with changing needs, I noticed that they all shared a common refrain: they only purchased what they needed at the time because that was all they could afford.

Despite the fact that this raised alarms in my head I decided to try it. I used up my stockpiles and followed the practice for several years. While it does make shifting brands easier and allow you to avoid large stockpiles of items that you stop using as your needs change, I discovered the hard way that it costs a significant amount more than my old method of stocking up. I also discovered that, on many items such as bathroom tissue and basic cleaning supplies, I didn’t switch brands near as often as some claimed to do. In fact, I realized that the primary reason many of my friends switched brands so frequently was due to cost. They would buy what they could afford at the time even if it wasn’t the brand they preferred.

More importantly, I discovered that it’s a pain in the ass to go shopping every single payday, especially when you don’t own a vehicle.

My current job allows me to see the differences between those who buy in bulk and those who refrain. I noticed that the ones who purchase large amounts of items on sale tend to be wealthier than those who do not. It breaks my heart to see a customer forced to count their pennies in order to purchase a single roll of bathroom tissue, especially when I know from my research that they would save money in the long run if they had simply purchased larger packages to begin with. While I know from experience that financial challenges strike all of us from time to time, buying in bulk when money allows simply makes sense.

The Art of Buying in Bulk

Stock up when money is plentiful. Income tax season is an ideal time to purchase stockpiles of things that you know you will use. Bathroom tissue, paper towels, feminine hygeine products, and cleaning supplies won’t go bad just sitting on a shelf so stock up on these items whenever you can take advantage of sales. I make it a habit to take advantage of back to school season to stock up on notebooks, office supplies, panties, socks, and other items that are offered at a discount then.

Keep money in reserve to take advantage of sales. You never know when you will stumble upon a good bargain so it pays to keep some money available to take advantage of these opportunities. For instance, just the other day the store I work at offered a 16-pack of paper towels for a dollar less than the regular price on two 8-packs of the same brand. While we don’t use a lot of paper towels (one roll typically lasts us a couple of months), the dollar I saved is a dollar (or more, if prices go up) I won’t have to worry about earning in the future.

Know what you need and use. Keep an eye on your stash so that you will know when you are getting low on something. This allows you to start looking for sales before the need is urgent. Few things are more annoying than to discover that you’re on your last roll of bathroom tissue or your last sanitary napkin while you’re sitting on the commode. Last minute purchases can eliminate your money savings.

Use caution when stockpiling perishable items. It isn’t a bargain if most of it will go bad before you use it. Watch your expiration dates carefully. For instance, it saves us money to purchase milk in gallon containers as opposed to half-gallon but there are times when we don’t drink it all before it goes bad. To combat this we buy the containers with the longest expiration date and never purchase more than a gallon at a time regardless of price. We also refuse to purchase milk on clearance since we know it will go bad long before we can drink it all. While canned goods can last for years past the expiration date, items like flour, milk, crackers, and cereal have a limited shelf life.

Stock up during clearance sales. My daughter enjoys giving gifts so after Christmas we stocked up on wrapping paper and related supplies when they were placed on clearance for half price. We focused on items that could be used for any occasion but also selected a few things specifically for the Christmas holiday season. We saved the equivalent of several hours’ wages by doing that.

Check the per-unit price. On some items it is actually cheaper to purchase several small containers of an item instead of a single larger one. For instance, the store I work at purchases four pound bags of sugar by the pallet to save money, passing the savings onto their customers. Since the demand is less, they actually spend more to purchase larger packages of sugar. The people I observe buying the larger packages don’t seem to realize that they aren’t saving any money in this case. While occasionally the larger packages can be offered at a savings, it pays to bring a calculator to verify.

Avoid stockpiling fads. Children are fickle creatures. While they may go through copious amounts of a certain item for a time, the day will come when they suddenly decide not to use it any longer. When my children were younger they would go crazy over a certain brand of cereal. I would stock up only to discover a few days or weeks later that they wanted to move on to something else. I ate a lot of super sweet garbage to avoid waste in those days!

Set aside a place to store your stockpile. It won’t save you any money if the items get destroyed before you can use them. I have spaces reserved in my cabinets and on a shelf to avoid this occurrence.

Never use credit to stockpile. The interest charges will eliminate any money you save.

That’s all there is to it. By taking advantage of sales and buying in bulk you will not only remove the need to purchase certain necessities constantly, you will be able to keep more of your paycheck in the end.

Do you buy in bulk? Please share your stories in the comments below.

Grocery Savings

One of the things I have never done is factor the cost of food into my budget. Our spending varies too much based on bargains, bulk buying, and available finances for us to set aside a certain amount every month.

While some months we barely buy the basics like milk, other months we come across good deals to take advantage of or we use our available cash to stock up on staples. Our grocery store jobs have really benefited us in this area.

For instance, the grocery I work at had several cases of Manwich that were marked down to ten cents a can in order to liquidate their stock before the expiration date last year. Since I am well aware of the fact that canned goods can last for years, I bought a case of 24. I spent $2.40 as opposed to the $24.00 or more I would have normally paid (I can’t recall their everyday price but I know it was over a dollar a can the last time I purchased it).

My chest freezer has a tidy supply of Hawaiian Sweet Rolls–a treat in our house–that I purchased for a quarter apiece along with a nice stockpile of meat that was placed on clearance or on sale.

My most recent purchase was a case of Mac and Cheese. They were nearing their expiration date but since that stuff will last for ages past that I snagged it without hesitation. Katie loves the stuff so I routinely use it as a base to make other dishes when we have it available.

I paid $4.99 for a case of 24 boxes, which equals up to twenty cents a box. The current price for the stuff is 39 cents a box, meaning that I purchased it for roughly half-price. It will take us several months to use up this supply; I expect it to last us for most of the year. Even better I managed to save most of an hour’s wage by buying in bulk when I discovered the bargain.

Do you purchase food in bulk when you run across a good deal? Please share your stories in the comments below.