Who wants to make a guaranteed 6.2%? I do. With checking accounts yielding .01% and savings accounts not much better, it’s a no brainer. Here’s the deal. First class stamp rates are going up by 3 cents on Sunday, January 26th to 49 cents. If you buy the forever stamps on Friday or Saturday, you will “save” 3 cents on a 46 cent purchase. If my math works out right (and I checked with my math teacher wife) that’s a 6.2% return.
Of course most of us do not mail many items anymore which is why the post office has to charge more for each remaining item. The last time I needed stamps we were out which required a special trip to the post office.
If I planned better and wanted to save even more money, I could buy the stamps at Costco. They sell stamps at a discount when you buy in bulk. Hey, if it works for diapers, chicken nuggets, and alcohol, it should work for postage too. Right now 100 stamps will set you back $45.75 rather than the list price of $46.00. If you bought 100 stamps on Friday or Saturday and used them all on Monday your return would be 7.1%
No, this is not a get rich scheme, but check around your place for stamps. If you are running low, stock up now if you are already planning to be by a retailer that sells them. If you had to figure in the cost of the gas for a special trip, your return could be negative really quickly.
You don’t have too many ways to get a federally guaranteed 6.2% return. But, if you miss this one, I’m sure in a year or so you can do this again the next time stamp prices increase.
Keep making your money feel better.