Saturday, January 21, 2012

My Top 10 Tips for Frugal Living #5 Be Patient!

As I continue my Top 10 Tips for Frugal Living, my list so far:
# 10 Know the Prices here
# 9 Be Organized here
# 8 Network here
# 7 Rebate here
# 6 Menu Planning here
# 5 Be Patient!
Now, what I mean here is that it takes TIME to build your stockpile. Real stock piling occurs when you find an item on sale at a low price, combine it with a coupon, and buy the item in great quantity (as many coupons as you have on hand for that item). Don't get overzealous, blow the budget, and end up w/all toothpaste and nothing to eat!
I recommend (as someone did to me when I first started) that you start w/just a few items per week or month. You and you alone know what your budget will allow.
Let me give you an example: If you have $10 left in the grocery budget and you already have all the groceries you need until the next pay check or period, then by all means, go ahead and stock up on shampoo, bandaids, toothpaste, or whatever is available that week at the lowest price. But, on the other hand, if you need milk...well, then it should be plain to say that you better buy the milk and forego the stockpiling ambitions for the week. Don't put a shock to your budget (or wallet) by trying to do too much too quickly. Know that sales are cyclical, which means the item will be on sale again. Watch for it the next time, have your coupons ready and then purchase it at a fraction of the cost.
Basically, what I'm trying to say, is that yes, stockpiling is important. BUT, if it comes at the expense of your family having to do without an essential item, then it's not worth the money saved! You know what your family needs better than anybody. So, you are the judge. It's important to make wise decisions.

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