Why Stockpile?
First, what is stockpiling? The dictionary definition is “to acquire and store something for future use”. There are many reasons for stockpiling: emergency preparedness in the event of a disaster being the most obvious. Disasters aren’t just something that happens to other people on TV. Inclement weather, earthquakes, floods, power outages, terrorist strikes, union strikes, civil unrest and epidemics are just some of the reasons you may not be able to go to the store or, if you do go, the shelves have already been emptied.
You don’t need to be a Survivalist or a Millennialist to stockpile (no disrespect to either group). Emergency, health authorities and Mormons recommend it. Or, as Ben Franklin said, “By failing to prepare, you are preparing to fail.”
Another reason is to avoid future inflation by buying something now before the price goes up later. Considering the economic turmoil and governments printing money to stimulate the economy plus their reluctance to raise interest rates for fear of stifling the economy further, it’s quite likely we’ll have more inflation in future.
Expect taxes to go up. And, if you don’t yet have a VAT (Value Added Tax) then it’s only a matter of time before desperate governments enact one. In Canada it’s called the GST (Goods & Service Tax). Buying now avoids future tax increases.
It’s also a matter of convenience. If you have it now you won’t waste time getting some later. Plus, you reduce impulse trips to the store and it’s a buffer in case you have unexpected expenses.
It’s also a matter of availability. I learned long ago; when I find something good, buy several because either the price goes up; the quality goes down or they stop making it altogether.
Also, it can be cheaper. Buy ‘em in bulk at Costco or Wal-Mart when they’re on sale.
Another reason is for investment. What? Did he say, “investment”? Yes indeed, consider this viewpoint; not everyone is wealthy and can afford gold coins but a low income household can invest in consumables by buying extra. You can’t eat gold coins but you can eat a can of beans.
Still another reason is an alternative to savings. With savings interest rates near zero; why bother putting money in the bank when you can buy useful things you’ll need someday. As Doug Casey says, “I’m not sure exactly how bad the Greater Depression will be or how long it will last, but it makes all the sense in the world to stockpile usable things, in lieu of monetary savings.”
What to Stockpile?
First you need to figure out what you need. The best way to do this is take inventory of what you already have by making a list of what you have at home. This will give you an idea what to buy.
Then, start keeping a record of what stuff you buy regularly and how much you use. This will give you an idea how much to buy. If you typically replace 4 light bulbs in a year, there’s not much sense buying 200 light bulbs (that’s a 50 year supply) unless you plan to use some for barter (that would be in a worst case, complete breakdown situation.)
Then go through the list and divide it into three categories 1) long term, durable stuff and then 2) medium term stuff and then 3) short term like milk, eggs and bread that spoils if not used shortly. Here are some ideas but these lists are not meant to cover every possibility. Inventory your own home and track your buying habits and you’ll find stuff that’s not on the lists below. These are just some items to demonstrate the difference between long, medium and short term. Emphasize buying long term, then medium term. Further down this article is a list of 100 items that will disappear first.
Long term stuff – towels, soap holders, shoe laces, cling wrap, aluminum foil, Zip-lock bags, duct tape, sewing supplies, mirror, scissors, sponge, dishes, canisters, containers, utensils, nail files, tools, clocks, instant coffee (lasts almost forever) sugar, salt, garbage bags, extension cords, paper towels, toilet paper, tissue paper, napkins, coffee filters, vacuum bags, brooms, dust pans, writing pads, sleeping bags, candles, books, card games, playing cards, light bulbs, ammunition, etc. etc.
Medium term stuff – dish wash gloves, disposable gloves, hand soap, dish soap, laundry soap, cleaners, vitamins, liquor, clothing, bleach, bandages, batteries, pens, pencils, WD-40, motor oil, etc. etc.
Instead of buying one box of something, buy two and put one away in the stockpile pantry. Better yet, buy stuff when it’s on sale.
Short term stuff – this is stuff that spoils if not used within days or weeks like fruit, vegetables, eggs, milk and bread. However, even here you can freeze just about anything (except potatoes don’t freeze well and cheese gets crumbly) or you can dehydrate, you can pickle, you can preserve or make jerky.
A little further below is a list of Food Shelf Life Recommendations. I think the list is conservative and, in some cases, can be exceeded especially if food is kept cool or cold. However, just because you buy it today doesn’t mean it will last as long as the list indicates if the food doesn’t have a Best Before date. You don’t know how long it’s been in a warehouse or grocery store shelf. Also, be careful when buying on sale. Food is often on sale when it is approaching its Best Before date so always check dates when buying for your stockpile.
Always examine an old can before using it. If it’s bulging, it’s no good. Also, avoid buying dented cans. The dent may compromise the plastic lining and the food may contact bare metal. If you dent a can at home, you don’t need to use it immediately but move it to the front and use it next.
The important thing is to buy useful stuff that you WILL use. There’s no sense buying something on sale if you’re never going to use it. There’s a gender joke about this. Men will pay extra for something they need but women will buy something they don’t need if it’s on sale. Be unisex, get the best of both and buy useful stuff on sale.
When shopping, always bring a calculator or Smartphone or cell phone with a calculator function so you can calculate unit price. Just because something is supposedly on sale doesn’t mean you always save money. Here’s an example: vitamins (premium Omega-3) were on sale for $12 (“regular” price $18) for quantity of 60 capsules. Dividing $12 by 60 capsules, the so-called “sale” price works out to 20 cents per capsule. Right next to them was a larger bottle of 300 capsules (same brand) NOT on sale for $27 regular price. Divide $27 by 300 capsules and the unit price works out to 9 cents per capsule. In other words the so-called “sale” 20 cents unit price is more than twice the regular 9 cents per unit price.
Also, this is an example of saving money by bulk buying (disregard the so-called “sale”). At the regular price of $18 for the small bottle of 60 capsules, the unit price is 30 cents per capsule. The larger $27 bottle of 300 with a unit price of 9 cents per capsule demonstrates the saving of buying in bulk. However, you don’t know unless you do the math.
In Latin, we say “caveat emptor” – let the buyer beware. I checked the Best Before dates and I wasn’t surprised to see the so-called sale item had about 6 months left whereas the regular (cheaper) bulk bottles had more than 2 years. Buyer beware, indeed!
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