General Finance

Can Buying in Bulk Make You Money?

There are things you need to buy every month to stay healthy and meet certain needs – whether they’re for yourself, your household, or just to restock. Why not save some money on these purchases? Some millionaires and billionaires even suggest buying in bulk to increase savings as an alternative to trying to make a big financial gain in the stock market or other investment vehicles.

In the open stock market, it can be hard to get a 50% gain in one day. In the world of bulk purchases, though, it might not be as hard. With some research on deals and quick coupon searches, you could make a savings deal that could lead to a theoretical gain of 50% on cash that would have otherwise been spent. Think of it this way: these are purchases that you would be repeatedly making throughout the year but buying a few months’ worth of an item can save you more in the long run.

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Don’t forget your coupons! Many stores have weekly sales and offer monthly coupons. When you combine both the weekly sales with store coupons you can earn some really big savings! Not only do stores issue coupons, but so do many manufacturers. The great thing is that some stores will allow you to combine both manufacturer and store coupons, which results in some big-time money saved. Not all locations allow this, though, so you will have to check the policies of your local stores. I recommend trying wholesalers like BJs, Costco, and Give the Gift of Amazon Prime.

What Do the Big Guys Say?

Dave Ramsey says, “overstocking a bunch of stuff you’ll never use isn’t very economical. When done right, however, buying in bulk is a dynamite way to cut out wasteful packaging and get a better bang for your buck—especially when it comes to non-perishable staples like toilet paper, toothpaste and, you guessed it, light bulbs.” So, don’t overbuy everything in order to try and save money – keep it to the essentials you know you’ll use. Check out Dave’s book The Total Money MakeoverWhen talking about small changes that lead to big changes, Mark Cuban said, “it’s so hard to make a return on regular investments that … you’re better off buying two years’ worth of toothpaste when it’s on 50 percent discount.” If billionaire Mark Cuban is buying in bulk, maybe it is a smart thing to do!

check out the number six spot in the video below!

Saving money on some bulk purchases can be a strategy that helps people start making big changes in their life that will ultimately bring them closer to financial freedom. Doing your research to find deals and coupons is key to achieving these savings. While I’m not saying that you’re going to go to the store and they’ll end up having to pay you, it always is a possibility – just look at what some extreme couponers have accomplished! Do your research and always continue to gain more knowledge that will bring you closer to your life goals!

 

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