Use Your Pantry to Pinch Pennies

Sam's Club (WMT Quote) and Costco(COST Quote) have begun limiting bulk sales on some rice varieties at some stores across the U.S.

People were buying them in large quantities, and to ensure their continued availability, the warehouse clubs initiated a limit on how much each person could purchase.

This run on rice was not made by individuals as much as by restaurant owners and small food producers who had concerns about rising prices and who determined that it was in their interest to stockpile because they believed rice prices were going to continue to rise. The truth is that while there is tightening in both domestic and international rice stocks, there is no shortage of rice in the U.S. at this time.

While food shortages and rising food prices have resulted in riots in a number of impoverished countries, these scenes aren't likely to reach the U.S. and there is absolutely no need to start hoarding food. That being said, stocking up your pantry can be one of the wisest short-term investments you can make if you have the space and the cash to spare.

Government data show food inflation is rising at approximately 4.5% a year for the average U.S. household, while banks aren't paying close to that much for savings accounts. Even online banks are paying well below 4% interest these days. With food inflation outstripping savings interest rates, spending your money later on the same items will cost you more than buying them now and stockpiling them.