Stocking up necessities maybe bad for your pocketbooks (bankruptcy, agent, debt)

[vision33r]

Since the pandemic started I see people panic buy items and stocking up all sorts of stuff. This is gonna hit their pocketbooks. A lot of stuff I see people buy aren't exactly short supply items. Toilet paper and paper towels is a good example, while many areas have no supply. I frequently see it restocked the next week at my Costcos and stores. These items take a lot of space to store them so eventually people will run out of space and they won't be in demand anymore. However, paper towels do not last forever. After months of not using them if they are stored in a hot climate they will yellow up and break down. People will end up wasting their money.

Other things like milk and eggs, you can't buy too much of them, they have a short shelf life. If you are over buying you will either have to over consume or throw it away.

I see people stock up on lysol or clorox wipes. Those are probably the biggest waste of money. You can easily use bleach or antibacterial sprays to do the job and won't be wasting so much money on.

There are lots of folks I see that probably are low income panic shopping and that's very dangerous. This pandemic will put a lot of people into bankruptcy.

[Therblig]

I think you're overstating the problem, but yes, I suppose some people are spending foolish money on things they won't really need any time soon, and will be able to buy at lower prices as time goes by.

But then, as someone appalled at the growth of the whole germophobic 'wipes' industry, I would have said much the same thing long ago.

[Parnassia]

Shopping in order to indulge panic isn't a great idea no matter what your income level is.

[anononcty]

Hoarding and paying delivery charges for consumable items in particular could come back on many people. Those that could afford before the virus won't have issues it's those that spent like that after and don't celebrity income that will be hurt the most.

[Serious Conversation]

When this all started, seeing others hoard sends a mental signal to those who aren't hoarding that who knows how long supplies will last, which perpetuates the hoarding.

I have a bunch of canned goods in the basement in case TSHTF. I'm not a canned foods eater. $8 for a box of canned beans or something at Sam's isn't going to impoverish me.

[galaxyhi]

I've been through hurricanes, floods and massive floods, bad storms, and even though hills and mountains surrounding us, we've had destructive tornadoes of all things.

Through all these things I learned to be what I've affectionately call being "a casual prepper".

Generally canned food last 1yr, a year and a half, or two years or even longer.
Then there's MREs, I think they last at least 10years, come with a chemical heater pack.
Then there's 25year shelf life freeze dried meals, just add water.

After major flooding in '05, '06, '11 which left us without electric power for a minimum of 8 days, and longer. That was due to the power substation itself was in the floodplain. We ourselves had no water up where we were, but canned food cooked over a small propane stove Allowed us to eat, because I can tell you dry ice, even when delivered in the morning by the fire department, and again in the evening by a do-gooder girl scout trying to earn some kind of "community service" badge will NOT keep a freezer frozen!

I learned to shop for just one or two cans of soup, veggies, fruit, stew, chili, etc every week when I shopped to add to "back stock", to "prep" for next loss.

I also pick up things in boxes...like pasta, boxed meals, etc.
I actually learned that after a hurricane. Because I was down to eating a cold can of green beans or a cold can of ravioli the last day the power was out, as I didn't keep much on hand, and my night job was as a line cook in a 4 star restaurant.had the power not come back on that night, I would have been out of things to eat, and as it was I had to eat them cold, as I had electric stove too.
( Later being homeless I would re-experience eat cold stuff out of cans!)

Buying just one or two extra of something every time you shop, or buying MREs or Freeze dried meals on sale on occasion, WONT bust the budget, and one will develop a "back stock" of their own.

Also, when we are down, about half a supply of ANYTHING, I buy a fresh new supply.
Example: when 4 of the 8 rolls of TP are gone, I buy a new package, I don't wait till the very last one is on the wall holder, I buy then. Rinse and repeat. Next time I should have a few rolls from the first PKG, and a few rolls from second PKG, when I go to buy a third.

I build up back stock, don't break the bank, and don't need to"panic buy" when an event happens.

I recently started purchasing the limit of canned goods ( limit 4) while they are now still $0.49 a can at Aldi's, because I DO believe the farmers are right: there will be a shortage, and thusly prices will go up. I may only need to buy 2 cans, but an extra $1 won't hurt my budget and I'm two can ahead in backstock.

I even buy canned chicken, beef and pork.

Ive got propane.. enough for cooking for a while, and I don't rely on refrigerator/freezer electric products to keep my food.

I also have all the equipment to dehydrate and home can foods for use later.

Best thing of all, IS if there is no rising cost, or shortage, I certainly wouldn't have to buy food, oh for a year or two, and not really skip a meal.

You can call it prepping, or hoarding, or stockpiling, but I call it smart. I've learned from being without.

So this household will last quite a while, with self contained portable potty, 48 current count of TP, and blue sewage destroyer, 60# of propane for heat/cooking, plenty of food, and 2 gross of 4 hr. Tea lights, and a gross of 6 hour tea lights, and plenty of 8 hour votives to keep light at darker hours. Tea lights are also meant to do what? Keep tea warm or melt smelly wax, and thusly they will raise the temp of a 12'x12' room! 4 will do just fine to raise the temp about 10-15°.

Next "prepping supplies? SOLAR PANELS AND A SOLAR "POWER GENERATOR INVERTER'.

GOTTA READ up on that, to then carefully buy what I need. A more expensive proposal than just buying"one or two" extra food stuffs, but will run a fridge, lights, even smaller AC, OR smaller electric heater s!!!

Best to all, I just use Positive future thinking!

[vision33r]

Originally Posted by Therblig

I think you're overstating the problem, but yes, I suppose some people are spending foolish money on things they won't really need any time soon, and will be able to buy at lower prices as time goes by.

But then, as someone appalled at the growth of the whole germophobic 'wipes' industry, I would have said much the same thing long ago.

Most people with salaries and savings wouldn't matter. There are a lot of Americans going paycheck to paycheck and it won't be long. I would estimate that in 6 months a lot of them will pile up debt using CC. Even if they are not paying the rent. People who aren't good savers would end up overspending on hoarding items, buying non-essential items, and without steady income a lot of people by end of year or early next year would be in serious debt without a steady paying job.

I used to see the circular every week with sales on meats and produce. Now the supermarkets are not doign discounts and they claim there are shortage of milk, eggs, etc. But yet there are large farms dumping milk and throwing away chicken they can't sell.

[Therblig]

Originally Posted by vision33r

Most people with salaries and savings wouldn't matter. There are a lot of Americans going paycheck to paycheck and it won't be long. I would estimate that in 6 months a lot of them will pile up debt using CC. Even if they are not paying the rent. People who aren't good savers would end up overspending on hoarding items, buying non-essential items, and without steady income a lot of people by end of year or early next year would be in serious debt without a steady paying job.

Well, that quite a few people are having trouble making ends meet and more will join them is a different topic from 'stocking up on unnecessary supplies.' Buying food, tp etc. is better use of money in the long run than some choices.

I used to see the circular every week with sales on meats and produce. Now the supermarkets are not doign discounts and they claim there are shortage of milk, eggs, etc.

Milk hasn't been in short supply since the first week or two; eggs are always available if in low quantities and not much selection. (E.g., I prefer extra large and haven't seen them since the start of this.)

The only persistent shortages, so far, seem to be hand sanitizer, some cleaning agents, and meat.

But yet there are large farms dumping milk and throwing away chicken they can't sell.

I brought that up on another thread as a question about how much our restaurant infrastructure must waste, given that people are eating, overall, the same amount of food. (That is, if we're getting by while these products are going unused, it must mean that the waste of restaurant meals is enormous.)

But it's apparently products grown/produced/processed for commercial use that can't easily be sold at the retail level. No easy solution.

[ilovemycomputer90]

Originally Posted by vision33r

Most people with salaries and savings wouldn't matter. There are a lot of Americans going paycheck to paycheck and it won't be long. I would estimate that in 6 months a lot of them will pile up debt using CC. Even if they are not paying the rent. People who aren't good savers would end up overspending on hoarding items, buying non-essential items, and without steady income a lot of people by end of year or early next year would be in serious debt without a steady paying job.

I used to see the circular every week with sales on meats and produce. Now the supermarkets are not doign discounts and they claim there are shortage of milk, eggs, etc. But yet there are large farms dumping milk and throwing away chicken they can't sell.

There's also large amounts of meat but I guess it's a supply chain issue. I just won't eat meat if the prices get too exorbitant. I could probably find a local source with much better quality anyway and I don't mind paying a little extra with them as opposed to at the supermarket. The "meatless" alternatives have gotten much better and are an option as well.

[Therblig]

Originally Posted by ilovemycomputer90

There's also large amounts of meat but I guess it's a supply chain issue.

Well, yes and no. Some ranchers are culling beef herds and there seem to be actual animal-level issues with pork and chicken. Most of the problem is at the processing level, with plants shut down because of rampant illness. It's one of the more disturbing problems, because it can't just be turned on and off like some goods and if it suffers too much disruption, getting it all restarted could take a long costly effort.

I pretty much stopped buying beef; it's gotten insanely expensive. Even 80% hamburger is was into ouch territory before the troubles. I pick up a warehouse pack of tri-tip occasionally; it's about four good meals for $25. But no more strip steaks, no more hamburger.

Pork and chicken have been the opposite, insanely cheap. So I've tended to load up on boneless chops and breasts at around $1.50 a pound and have a huge repertoire with such choice beginnings. But... last Sam's run had nothing but some bulk pack chicken legs and nothing much else at any price. My grocery butcher was empty of chicken breasts as well.

I'll see what everyone has on tomorrow's run.