Which spending model is better? - JIT vs Bargain Stocking
I have been debating which is a better model to manage expenses. The following are two which I have been trying: JIT - Just in Time purchasing. Which means only purchase items only when we need it. BH - Bargain Stocking/Hunting. Which is to stock up items when they are on sale. To help better explain the model, let us go through some scenarios: Junk Food For those with children, one of the things we usually buy are ice cream and candies. In the case of JIT, you will only buy the individual ice cream cone or bar when they request. So you will go to places like 7-Eleven, McDonalds etc. Same with lolly pop and candies. In the case of BH, you will purchase the tub of ice cream or even the multi pack from the supermarket. In the case of lolly pop and candies, you will buy party packs. Pro for JIT: From experience this actually reduces the consumption of the ice cream and candies since they will only request when the urge strikes or when they see other consuming it. The candy and ...