How to explain concept of stockpiling to the financially inept

[Mothernature]

I have two family members who are not financially savvy. They live way beyond their means and not willing to make some of the necessary changes. Unfortunately, this means phone calls for money.

I have amassed a $550 stockpile for $9 oop for the two of them; the $9 will be reimbursed by them. This stockpile includes everything from 50 packs of toilet paper, tons of aquapods to ten boxes of laundry detergent. This stockpile helps them survive and allows leverage when asked for money.

They seem not to comprehend that stockpiling allows one to name the price a person wants to pay on items vs forced to pay the current shelf price.

I need advice on what further I can say to better explain this to them so they understand the principals behind why two people need a stockpile.

[Mama Stu]

I understand your intentions in wanting to help them out, but I think I would charge them more than the $9 it cost you. You also have your time and gas money involved.

Have you tried explaining to them that stockpiling helps when they have no money that it is easier to just walk to the closet to get the item than it is to have to try to scrounge up the money to buy the item?

Also, by doing this for them , are you enabling them? Please don't be offended by that, because I wonder the same thing when I help out some family members who "don't have the time",

[queenofthehivemomof5]

Some folks will never get it. But I have explained it to some folks and they got it by saying that back in the "olden days" ma and pa would hunt and grow their food, they would then smoke and salt the meat and can and put up the fruits and veggies so they had food in the winter and if they fell on hard times. They would stockpile food and put it in their root cellar and then were able to survive lean times. The modern day stockpile is the same concept in except we go to to grocery store and we pay the least amount of money possible by shopping sales and using coupons (shopping sales without coupons can save you 50% off your shopping bill right there!) and putting the food and other items to the side to use later. Should we fall onto hard times we have food stockpiled for those lean times. If things are good, we use what we have everyday and continue to fill the pantry with items we need at low prices.

[3beeboys]

I have two family members who are not financially savvy. They live way beyond their means and not willing to make some of the necessary changes. Unfortunately, this means phone calls for money.

I have amassed a $550 stockpile for $9 oop for the two of them; the $9 will be reimbursed by them. This stockpile includes everything from 50 packs of toilet paper, tons of aquapods to ten boxes of laundry detergent. This stockpile helps them survive and allows leverage when asked for money.

They seem not to comprehend that stockpiling allows one to name the price a person wants to pay on items vs forced to pay the current shelf price.

I need advice on what further I can say to better explain this to them so they understand the principals behind why two people need a stockpile.

Wow, that was nice of you. I'd gladly pay you more than that just to do my couponing FOR me.

FWIW, I agree with PP. You may have enabled them. Until they can get their own finances under control, they aren't going to care. They just WON'T until they find out what it means to be disciplined and put some of their own thought and sweat into staying within in a budget.

[heartse]

Some folks will never get it. But I have explained it to some folks and they got it by saying that back in the "olden days" ma and pa would hunt and grow their food, they would then smoke and salt the meat and can and put up the fruits and veggies so they had food in the winter and if they fell on hard times. They would stockpile food and put it in their root cellar and then were able to survive lean times. The modern day stockpile is the same concept in except we go to to grocery store and we pay the least amount of money possible by shopping sales and using coupons (shopping sales without coupons can save you 50% off your shopping bill right there!) and putting the food and other items to the side to use later. Should we fall onto hard times we have food stockpiled for those lean times. If things are good, we use what we have everyday and continue to fill the pantry with items we need at low prices.

Excellent explanation!

[3timesoccermom]

I think people that care to know can certainly grasp the concept even if they need a little instruction as to how to do it.

It seems to me you have gone WAY beyond giving them a little hand which is truly generous of you. However, they will learn nothing except to sit back and be bailed out if they aren't allowed to make their mistakes and learn from them. If they have children I am sure it's harder to sit by and let that happen but I hope you don't end up being resentful if they continue their careless ways and don't truly appreciate what you have done for them.

You're a giving and generous person and I'm sure you will reap what you sow even if it's not from these family members!!

And BTW - WOW!!!!! I am so impressed with what you have achieved with your stockpile. Perhaps you should teach classes?

[Clipper]

Wow, that's really generous of you Mothernature. Sadly, I'm afraid this is just going to end up with them expecting another batch of goods for nine bucks six months down the road.

But if you're going to try, then perhaps refer to it as "increasing your buying power" rather than "stockpiling". To some, stockpiling can seem like hoarding or doomsday type thinking/behavior. I'd emphasize that sales are cyclical in nature and they should buy what they use when it is on sale and get enough to last them until next time it is on sale. Use an example such as: if an item you like usually goes on sale every two months and you use one per week, it costs $4 regulary but is on sale for $2 plus there is $1/1 coupon, you can buy 8 of those items for $8 and be set until the next sale. Now you have 8 items for the cost of 2...you've increased the buying power of your money. So you paid $8 instead of $32 and are set for that product for 2 months.

[Mothernature]

Thank you for all the replies. I understand the use v help dilemma. As financially inept as this couple is, they do use coupons--improperly. They think because there is a coupon for say a restaurant, it is a good deal. They do not factor in other cost considerations. For example, his company gives him a car and pays for his gas. He does not factor that in when he asks others to join.

They found a deal on their own for $1 large bottles of laundry detergent with coupons. It is not lack of effort-- they feel overwhelmed. They've thanked me for the first round of goods. They receive the receipts, a spread sheet showing the purchases and deductions, what they owe and total overall savings.

Doubles, Rite Aid and free Marcal are available in my area, not where they live. It makes sense to help to an extent because of what they can not access. My first drop off of goods cost me no gas to get as I walked to the store that had the deals. I've had to spend a little more time in the car this time; I am at the store(s) for personal first (i.e. I am not making special trips).

I also look at the stock pile as a way to deflect the requests for money ("You are asking for money when that stock pile saved you $550? Sorry.").

[queenofthehivemomof5]

Not that I want you to out your family members but are these really close relatives or distant ones.

Do they always need help with money? And are they appreciative when you give them stockpile stuff?

With some folks the only real way to deflect the requests for money is to just say no.

I have someone in my family that needs quite a bit of help too. They are young and still learning. I let them purchase items from my stockpile at a deep discount or if they need cash I let them work for it. Mowing my lawn, washing windows, cleaning my car, whatever I can think of. This is my 19 year old daughter and her boyfriend. I don't like seeing them struggle and there is no way that I would let them go hungry or stinky. So they can buy most items from my stockpile for $0.50 each or less (the freezer is off limits, no way am I sell meat for $0.50!) and if they need cash for bills or whatnot then they do work around the house.

[Mothernature]

They are close relatives. They are appreciative to an extent when I help. They've said to me a few times about deals at Wags and CVS "I like to get deals but what I am to do with three extras when there is only two of us?".

They've always lived beyond their means but started to correct it the last few years. Then her husband lost 3/4's of his income and health benefits. They need to find a new place to live because they simply can not afford the cost of their home plus all the utilities. She needs health insurance too.