Why You Should Stock Up on Peanut Butter NOW
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Why You Should Stock Up on Peanut Butter NOW

Posted on Friday, October 14th, 2011 at 2:12 pm
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If you buy peanut butter, then grab your coupons and head to the store to stock up now! Why? Because according to the latest peanut price report from the U.S. Department of Agriculture, the cost of peanuts has more than doubled from $450 per ton to $1,150 per ton since last year. That means the price of peanut butter and other peanut products is expected to skyrocket in the next few weeks.

How Much Will Peanut Butter Prices Go Up?

Unfortunately it looks likes the peanut price increase is going to have a pretty big effect on store prices (and our wallets). The Wall Street Journal reports that wholesale prices for Jif peanut butter will go up 30% starting this November and prices for Peter Pan peanut butter will go up 24% by the end of this month. These aren’t the only brands raising prices though. Kraft will also be raising its’ prices by a whopping 40% on October 31st and Skippy has already raised prices 30-35% over the past year.

Will Any Other Products Feel the Crunch?

Yes. Sadly, peanut butter isn’t the only product that will be feeling the crunch with increased peanut prices. Peanut oil, salted peanuts, candies that use peanuts, trail mixes – really anything with peanuts – will most likely reflect the peanut price increase in the upcoming months. But it’s not too late to stock up! Now that you are in-the-know about the peanut price inflation, you can take the opportunity to fill your pantry with all your favorite peanut products before the price increases hit the shelves. Thank goodness peanut butter has a shelf life of over a year!

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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.