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One of my favorite ways to diminish the mental load we carry is also a great strategy to trim wasted spending.
And that’s having a well curated inventory system.
Your household inventory system is the way you replenish all the consumable products family members use, from toilet paper and toothpaste to shaving cream and shampoo. Over-the-counter medications, paper products, toiletries, and even office supplies are all repetitive use items – meaning you’re routinely purchasing these products during grocery shopping, or the dreaded running of errands.
I hate errands.
Because I learned most of them are about picking up one of these types of repetitively consumed products that someone is always out of. And running errands almost always involves going into stores where I’d invariably come out spending money on things I didn’t go in for.
Shifting gears to automated inventory management, instead of shopping and errands, helps you escape the mental burden of keeping up with all the things, and also eliminates extra runs to the store, that inevitably leak more money.
To create your own system, consider a couple key elements for success.
First, drastically simplify your household product use. Instead of his, hers, and theirs, just use one type of shower wash, shampoo, toothpaste, and deodorant (e.g. Everyone brand 3-in-1 soap and 2-in-1 lotion). If the baby is too sensitive or one family member is allergic, then maybe a particular laundry detergent isn’t good for anyone else either. Cut out products that can be replaced with permanent items (e.g. ditch dryer sheets you throw out for wool dryer balls that last years). In short, pick a streamlined list of simple products that covers everyone’s basic needs and avoids excess waste.
Next, choose an automated process to fulfill these needs. It may be Amazon Subscribe & Save (my choice) or Target, Wal-Mart or other store subscription services. It may even be a checklist you review each month to manually set up a store pick-up. Your choice.
You can start small with a handful of products and get the feel of managing a recurring inventory system. Then just make tweaks as needed.
For me, it’s as easy as reviewing my Amazon Subscribe & Save list in the app before the 15th of each month, while perusing the hall closet stock, and adjusting my upcoming product deliveries accordingly – always ensuring at least five items will be delivered in any one shipment to get the 15% off discount. Then it’s out of my head and we always know we have more dishwasher detergent, toothbrush heads, and tape refills when we need them.
No extra runs to the store.
You may think it’s a better money saver to shop around, take advantage of sales, and cut coupons. But remember to account for the cost of the extra things you buy (even if they seem essential!) by going into multiple different stores shopping around, not to mention your time, energy, and happiness.
In the end, simplifying our consumption with intentionally chosen products and staying out of stores (thus, out of view of the next new thing) can go a long way to lower our necessary expenses and avoid ever-increasing spending leaks.
You do not rise to the level of your goals. You fall to the level of your systems.
James Clear
A bad system will beat a good person every time.
W. Edwards Deming
I hope you enjoyed this edition of Under 2, an email series designed to share quick bites of wisdom to empower your financial journey (while keeping it short). Be sure to sign-up below to get these messages in your inbox.
All for now,
Lindsey