Impulse Control (Save Money by Taking Inventory)

Have you ever gone into your drawer and had to search through multiple pairs of black yoga pants to find that ONE pair you really love? I counted recently, and I have 11 pairs of them. ELEVEN! Despite having so many of one type of clothing in my wardrobe, I used to search for deals on black yoga pants every time I went shopping. Until I took a true inventory of what I owned, I just fell back into my regular shopping habits and searched for a deal on what was familiar. I have a feeling you do this too. What items in your closet do you have multiples of? Do you have a dozen pairs of jeans? Several pairs of the same type of running shorts? Twenty t-shirts of the same style?

How about in your pantry or refrigerator? How many bottles of ranch or Italian dressing do you have? How many jars of peanut butter or bags of flour or types of half-eaten cereal? These are items found in most households, and because they’re the “common” items, we often buy more and more of them when we mindlessly shop and fall into routine habits.

Taking inventory is your first line of defense against unintentional spending. Awareness helps you spend less and therefore, save more. After all, even if you find black yoga pants for 50% off or buy another bottle of ranch because there was a $1 off coupon, you’re still spending money on something you don’t currently need.

So, the next time you’re making your grocery list, peek into your pantry and your fridge and take count or better yet, take a picture. Not only will this keep you from adding something to the list that you don’t need, it will prevent you from mindlessly or impulsively buying yet another bottle of ketchup or frozen bag of peas.

Before your best friend and you embark on your next shopping day together, take a count, make a mental note, or snap a picture of your drawer full of jeans, your shelves full of shoes, your rack of dresses and skirts, and your pile of soft graphic tees. Being aware of what you already have will give you that resolve to say “no” when your friend is telling you how stinking cute you look in that #MomLife t-shirt.

A few other categories to take inventory of prior to launching into your weekly errands include:

– Beauty items, such as makeup or hair accessories and products

– Personal care items, including soap, body wash, razors, lotions, and toothpaste

– Towels … oh my gosh, the towels! I cannot even tell you how many times I’ve found amazing deals on soft, luscious, colorful towels at Target and convinced myself that we just did not have enough nice towels in our house. Now that I’m taking inventory, I’m blown away by how many drawers, cabinets, and closets in my house are packed full of every type of towel imaginable.

– Laundry and dishwasher detergents … there are almost always coupons available at the grocery store for these items, convincing you that you should buy more, but remember what I just said. There are ALMOST ALWAYS coupons available when you do actually need to replenish those products.

– Toys! Take a picture of your playroom or your child’s bedroom at its worst and have it handy for when you’re tempted to buy that “must-have” toy that was just marked down.

With all of this being said, I don’t want to discourage you from taking advantage of a great sale or huge discount. As a self-proclaimed frugal shopper, I understand that there are some deals that just cannot be passed up. I completely agree that occasionally, it makes perfect sense to stock up on something if you find an incredible deal and know you’ll be using that item often or that it will get eaten within the next month or two. For example, recently my grocery store was running a 20% discount on organic food items. This included the 24 pack of organic applesauce that my kids love. I already had a stash in my pantry, but because my younger kids each go through 2-3 applesauce pouches per day, I bought all the boxes left on the grocery store shelf. Those boxes full of addictive pouches of puréed fruit are taking up a lot of space on my pantry floor, but when I’m ready to go to the grocery store again, I’ll have a mental image of them being in stock at my house, saving me $12 of mindless grab-and-go shopping next time around.

I hope taking inventory of what’s on your shelves keeps you on the right path of your savings journey. You will likely recognize that you have far more than you truly need, and this awareness will prevent you not only from throwing away extra cash but also save you from being nominated for the next episode of “Hoarders”. Happy Saving!