The Importance of Saving Money to Stock Up on Food Supplies
Money is an essential aspect of our lives. We use it to buy the things we love, necessities, and of course, our everyday food. However, one of the most important factors when it comes to money that people always fail to achieve is saving it.
The act of saving is sometimes overlooked, especially when you have hordes of cash on hand. The moment we receive our payroll at work, we tend to dash immediately to shopping centers and buy impulsively.
The more we do impulsive buying, the more we forget that there is little money left in our hands. So what do you do? You can’t just cry in a corner and wait for a miracle to happen that money will rain above you.
And this is why saving money is needed for future use, especially for stocking up food supplies in case of an emergency. Food is one of the most important things we should focus on in times of crisis. This fact is more evident now than ever given our situation right now with the global pandemic.
Stores have been shut, and only a few supermarkets are open for the meantime. If we bought food before the pandemic happened, then this won’t be a problem. But we are caught off guard with its occurrence. What was once a seemingly small and localized virus quickly grew into a tragic global phenomenon in a matter of months.
How Saving Money Can Help You in Times of Need
According to a statistical report, the personal saving rate in the United States is sitting at 7.6% in 2019, which is quite low compared to previous years, such as 2018 and 2012, having 8.8% and 12%, respectively.
In other words, the report shows that as the years go by, Americans are spending more cash without saving money. And if you don’t want to be a part of these numbers, then you should learn the art of saving money.
Your piggy bank is your best friend during emergencies. And the coronavirus pandemic is the prime example of how saving money can prevent you from starving at the heart of your own homes.
But it’s not only limited to our global situation right now but also in natural disasters, or any emergency occurrence too. So in what way can we maximize our savings? Here are a few tips you should keep in mind:
- Don’t eat out too much – There’s no denying that we will crave for delicious and mouth-watering cuisine at our favorite local restaurant. However, if you do this more often, your wallet will probably beg for its life. Your stomach may be satiated, but the consequence you get is an empty bank account. So practice eating out less and keep those cravings at bay for the meantime.
- Take a carpool or mass transit – If you have a car, you know by know how expensive it can be to operate versus public commuting. The amount of money you spent on gas and maintenance is sky-rocketing every month. So to save cash, book a carpool, take your bike, or try out UberPool.
- Make use of coupons when shopping – Coupons are a lifesaver for all our shopping escapades. These discounts will free up your money by giving you bonus items along with your original purchase, discounts on goods you need and use every day. Grocery coupons are even better. Some grocery coupons will provide you with free item bundles or an opportunity to redeem them for free food items that you can add to your cart.
- List your grocery shopping list – When you jot down all you need for your grocery shopping; it will prevent you from spending unnecessary items that are not included in the list. With a grocery list, it teaches you discipline over food items that you are going to buy. There are plenty of apps on your smartphone where you can create a grocery list if you don’t want to write things down on your own manually.
- Be mindful of your electric bill – There’s no need to turn the air conditioning unit all day long or crank up the heater during colder nights. Let alone having your outdoor lights being up for 24/7. Save yourself from towering electric bills by keeping your appliances at a stable usage only. You can survive a hot and sunny day without setting your air condition unit to full. Just grab yourself some cold drinks to keep yourself refreshed.
- Don’t buy unnecessary things for your home – That huge Smart TV is tempting, and so as that large bookshelf. Thoughts like this usually happen when we receive our paycheck. And the next thing we know, our home is full of beautiful yet unnecessary equipment. Prevent yourself from splurging on unnecessary things and put that cash in your piggy bank instead.
Self-Control is Key
When you start to save money, it can be tempting to break that jar because of how beautiful it looks when filled with cash. That’s why it is crucial to keep your savings out of sight. Doing so prevents yourself and your family from being tempted to say, "It's just a few bucks."
Of course, you can use your bank account instead to store your savings. But in a world where everything we do is right in front of the internet, we might never know we already spent money online unknowingly.
Hey look, an ad about the latest smartphone just popped up on your screen. And it says in the description that they accept credit/debit cards as a means of payment. You may shrug off that ad at first, but a few hours later, you will find yourself purchasing that smartphone using your bank cards.
Temptations are everywhere, not just in the real world and also in the virtual world. The only thing you can do is to practice self-control over your savings. Remember, natural calamities or unexpected disasters are just around the corner, waiting for the right time to strike. And the only reliable weapon you can battle it with is your savings.
The importance of stocking up food supplies in case of an emergency should never be taken for granted. Food will never be an issue with the help of your savings. And you can have a happy and satiated tummy while being locked down on your homes.