Hoarding Toilet Paper Won’t Save You Money
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Hoarding Toilet Paper Won’t Save You Money

Posted on Wednesday, April 15th, 2020 at 1:51 pm
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Shortly after people became aware of the dangers of COVID-19, they started hoarding toilet paper. They also hoarded cans of beans, huge bags of rice, milk, and eggs. Maybe you were one of the people who hoarded necessary items. Keep in mind that hoarding toilet paper isn’t going to save you money.

Why are people hoarding toilet paper and other items? It is because they are afraid. COVID-19 is a scary, contagious, virus. People who are afraid may do irrational things in an effort to comfort themselves. In this case, people bought pallets of toilet paper because doing so made them feel as though they had control over what happened.

Hoarding toilet paper, and food, will end up costing you more money than you save. Stores are no longer accepting returns on those items, in part because doing so could spread coronavirus. You may be stuck with more food than you can safely eat before it goes bad. That’s a waste of money!

Spending more than you should have a huge grocery haul could make it harder for you to pay bills. Overspending on groceries could mean you can’t pay your credit card bill. It could mean you don’t have extra money to spend on an emergency. Hoarding could result in not quite having enough money to pay your rent next month.

Some people see empty shelves at the grocery store and panic because they think it means there is a shortage. So, they overspend on things they really don’t need in that quantity. Doing so could actually cause a shortage where their wasn’t one before.

Shortages can lead to rationing. Grocery stores may impose a limit of one package of toilet paper per customer, or two cans of beans per household. The best way to prevent rationing is to only buy what you need for the next week.

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Good Tip: Saving money is important – especially if you have a lot of expenses like bills to pay, loans to pay off, and all the other things that drain your bank account. Figuring out a way to save money can feel tedious to some, and like a punishment to others. U.S. News suggests that you try one of these money saving challenges. The “No Eating Out for a Month” Challenge This one is self-explanatory. The goal is to avoid eating out for an entire month. This might be super easy for people who enjoy making meals at home. People who really enjoy dining out, or ordering food to be sent to their home, may struggle with this one. It’s worth a try because spending money on take-out is more expensive than buying groceries. The Pantry Challenge This one is a variation of the “No Eating Out for a Month” challenge. The goal is to use up all of your groceries before you buy more. It forces you to try and remember why you bought a food or beverage that you don’t know what to do with, and gives you the opportunity to find a way to use it. The one exemption to this challenge is the foods that have expired. Don’t eat them! Throw them in the trash. The “No Spend” Challenge Make a goal to avoid spending money during an entire weekend. The only exemption in this challenge is that you are allowed to pay bills. This challenge is interesting because it requires creativity. You must be creative and find workarounds for problems that you would typically solve by spending money. You may have a different outlook on spending after finishing this challenge.