So it’s July and you’re down to the last bag of chocolate chips that you got for 50¢ in December. You know they probably won’t go on sale again for that price for at least a few months, until November or December.
You’re making brownies and think a sprinkling of chocolate chips on the top would be a nice touch. But then you realize if you use up that last bag of chocolate chips as a topping for brownies you’ll be stuck paying $3 or more for the same brand of chocolate chips if you get a craving for chocolate chip cookies anytime in the next four months.
When you’ve got a situation like this, do you think purchase price or replacement cost? I usually think replacement cost – I know that I only paid 50¢ for that bag of chocolate chips, but in order for me to replace it right now, I’d pay 600% more.
Could I defer using that item until it’s absolutely necessary? Just because I only paid 50¢ does that give me a license to use it unwisely or without thinking?
I never try to deprive my family of chocolate chips just because I’m thinking replacement cost and they’re thinking purchase price. But it’s just one more thing to think about when you’re stretching your grocery budget as far as it will go.
Would you put the chocolate chips in the brownies or save them for chocolate chip cookies? Do you think purchase price or replacement cost when looking at your pantry?
What about other, non-food items? When laundering a dress you got at Goodwill for $5 that would retail for $100, do you take care of it as if it could be replaced for $5, or as if you would be paying $100 to replace it?
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Welcome to Springs Bargains, a service of our real estate business, Circa Real Estate Group! I’m Carrie, and since 2008 I’ve been sharing free and discounted ways to eat, play, and enjoy life in Colorado Springs.