Grocery prices are expected to rise nearly three percent in the United Kingdom in 2014. Stockpiling has gained a negative reputation among the population lately. However, consumers continue to see their budgets stretched thin with each passing month. Rising prices won’t turn around in the near future. Each person should combine coupons with stockpiling in order to reduce their overall expenses each year.
Sainsbury’s voucher (Photo credit: henry?)
Before stockpiling, you’ll need to figure out where you’ll store everything. Each item takes up space, and not everyone has unlimited space. You might need to create new storage space or better utilize existing space. For instance, the garage often proves the perfect place for storing non-perishable grocery items.
You’ll next need to get organised in order to succeed. It’s important to create a master list of the prices you pay each shopping trip. Therefore, you’ll be able to identify the savings over the course of the entire year. Plus, you can always analyse and identify trends for grocery prices.
Each person needs to realise that stockpiling doesn’t pay off immediately. Initial shopping trips might cost more money than you’d hope. In the beginning, buyers need to purchase basic stockpiling necessities in bulk. Doing so costs money, and it’s necessary to purchase these items at the lowest price possible.
Consumers should engage in seasonal shopping to save even more money. Seasonal themed items, including tissues and foods, are often discounted after the season ends. For example, Christmas related items are often discounted 50% or more the day after that holiday. You can take advantage of this situation to increase your savings.
Finally, and most importantly, you need to always shop the sales. There’s no reason you should purchase items that aren’t heavily discounted. A good rule of thumb is to purchase your stockpiling items when they’re discounted by 50% or more from their original price. Otherwise, you will cut into your overall savings.
By combining stockpiling with coupons, you can save hundreds of pounds per year or more. Each person will see slightly different results, but dedication and strategy pay off here. You’ll need to maximize your storage space and buy discounted items to find success. In the end, stockpiling is an effective strategy to combat rising food prices today.