Would it be wise...
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i think if you have a stockpile it might be a good idea to 'eat the stockpile' like once or twice a year to ensure that old stuff gets used up before it expires and to possibly save some money to put on debt.
but i don't think it's the best idea to do that with the express purpose of paying extra on debt for a month.
but i don't think it's the best idea to do that with the express purpose of paying extra on debt for a month.
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When you use up your stockpile you'll need to replenish it. So stocking up now to use it up short term won't do that much overall for your debt repayment.
Having a stockpile will however, allow you to have the items on hand purchased at a good sale price so you don't have to pay full price when you need them in the future. This stockpile or extended pantry can be used to supplement your meals and purchases that are fresh... produce, dairy, etc and help keep your grocery budget lower.
My extended pantry has enough items in it so I can wait till the next sale instead of paying full price. So it saves me a little bit each month and I can add and replenish when the sales and/or coupons match up.
Having a stockpile will however, allow you to have the items on hand purchased at a good sale price so you don't have to pay full price when you need them in the future. This stockpile or extended pantry can be used to supplement your meals and purchases that are fresh... produce, dairy, etc and help keep your grocery budget lower.
My extended pantry has enough items in it so I can wait till the next sale instead of paying full price. So it saves me a little bit each month and I can add and replenish when the sales and/or coupons match up.
Aside from hardship preparation, the main reason to stockpile is to get good deals, and then having enough to make it through to another good deal, maybe longer. If you are looking to stockpile simply to pay off debt, you would be better off paying extra on the debt now. The amount you're putting towards the debt won't be any different, just the month you are paying extra. Assuming your debt is counting up interest, the longer you wait to make payments, the more you are going to pay in the long run.
Now, the money you save by stockpiling items at lower-than-normal prices can certainly be put towards your debt, benefiting you in multiple places.
There does come a point, though, where the money you are saving by stockpiling isn't offsetting the amount you are paying extra towards interest. For example; the people who thought it was wise to stock up on Forever Stamps, because the price was going to be going up a few cents. That's hardly a good investment, especially if you are paying interest on debt elsewhere.
Now, the money you save by stockpiling items at lower-than-normal prices can certainly be put towards your debt, benefiting you in multiple places.
There does come a point, though, where the money you are saving by stockpiling isn't offsetting the amount you are paying extra towards interest. For example; the people who thought it was wise to stock up on Forever Stamps, because the price was going to be going up a few cents. That's hardly a good investment, especially if you are paying interest on debt elsewhere.
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I agree with the other posters. I am currently in a "eating down the stockpile" phase because we're moving in 6 weeks (that's a very appropriate time to eat down your stockpile because we won't be able to take it with us!), and it has reduced my grocery spending from about €60/week to about €10/week (although I had two weeks where it was closer to €2-4/week, this week we needed milk and vegetables).
Sometimes you will have a good reason to eat your stockpile rather than simply "shopping" from it to avoid paying full price - whether it's moving, or because you suddenly have a large expense elsewhere in your life and you don't have grocery money, or because you have a sudden reduction in income and need to reduce your expenses in a hurry.
For exactly those reasons, you DON'T want to eat your stockpile if you don't have a reason like the above - because what if you DO eat your stockpile, and then a week later, your car breaks (or whatever) and you find yourself scrambling? Stockpiles don't just save money under usual circumstances, they're also an insurance policy that you can use whenever you need. So I'd recommend keeping your stockpile at your goal (whether that's 3 months, 6 months, a year, whatever) to the best of your ability.
Sometimes you will have a good reason to eat your stockpile rather than simply "shopping" from it to avoid paying full price - whether it's moving, or because you suddenly have a large expense elsewhere in your life and you don't have grocery money, or because you have a sudden reduction in income and need to reduce your expenses in a hurry.
For exactly those reasons, you DON'T want to eat your stockpile if you don't have a reason like the above - because what if you DO eat your stockpile, and then a week later, your car breaks (or whatever) and you find yourself scrambling? Stockpiles don't just save money under usual circumstances, they're also an insurance policy that you can use whenever you need. So I'd recommend keeping your stockpile at your goal (whether that's 3 months, 6 months, a year, whatever) to the best of your ability.
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This is what I do too.........wouldn't ever deplete my stockpile
completely. Some items will 'get low' while I am waiting for a GOOD sale price.
But you will have to stock up at a later time........and in today's
economy, it could very well be at a higher price and maybe not even on sale. And you will need everything! I go against total depletion of stockpile.
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