It’s getting pretty grim out there. Like eggs, bread, and everything else, wine prices are going up, up, up.
And if you’re like me, you’re wishing you bought even more wine just a few years ago.
Sadly, we don’t have a time machine. But, we do have a plan.
So what can you do to stop spending so much on wine?
Here’s my four strategies for getting wine values:
- Buy more now
- Invest in storage
- Create your first wine budget
- Shop wine auctions
They work well individually, but they are extremely powerful when you use them together.
Let’s dive in.
Buying wine seems like a gamble, but with the right approach you can save.
Buy more wine NOW
This seems counterintuitive, but if you love a wine, you need to buy it now.
There’s only so much of a wine from a given vintage. And I can’t tell you how many times people came back to the wine shop looking for a wine they had months or years ago.
When you bulk up, you can save yourself frustration and money.
For example, one of my favorite cellar staples is Famille Perrin Cotes du Rhone Reserve Rouge. It has maintained its price (relatively speaking, only up a dollar), and when it goes on sale I buy it by the case.
Don’t be so sad. A simple wine fridge will solve your wine storage needs.
Invest in storage
When you start buying wine by the case, you need a safe place to store it.
I recommend a great wine fridge. Ideally, it’s something in the 30-60 bottle range. If it seems excessive, then you’re doing it right.
Most people underbuy their first wine fridge. They quickly realize that 6, 12 or 18 bottles weren’t enough.
You can also consider off-site storage, a great alternative if you’re limited on space.
Both of these storage options protect your wine purchases in the longer term.
If you have questions on storage needs, read these 4 steps towards becoming a wine storage pro.
Feel free to brag to your friends about your sweet wine budget.
Create your first wine budget
You can’t buy all the wine, so creating a budget forces you to make decisions and spend wisely.
While you might suffer a little short term FOMO, your bank account will thank you long term.
I’ve removed myself from most wine clubs, with a few exceptions. It’s a great way to put your own value on the wine you drink. And it frees up that cash that was coming out of quarterly subscriptions.
Need help making a weekly wine budget? Check out this previous newsletter.
Online wine auctions are available to help anyone buy single bottles of wine.
Shop wine auctions
Other people’s pain is your opportunity. It doesn’t sound nice, but then again I’m here to save you some dollars.
When I worked in wine, the downward economy meant more people were selling wine at auction.
It’s a great opportunity to find rare bottles, and while supply creeps up, prices can drop on some bottles.
Buying at auction isn’t nearly as scary as it seems, I wrote a quick guide to help you navigate buying older wine.
The Wine Saving Money Formula
A) Buy the wines you love now, especially when they are on sale.
B) Invest in storage, so you can keep your purchases safe to drink.
C) Analyze your spending, and create a budget that forces you to make better buying decisions.
D) Source wine auctions to obtain the bottles you may have missed.
So, I’d love to know: how are you saving money on wine?
Your friendly wine tutor,
P.S. – Thanks for your patience in sending out this week’s email. My wine course will be launching in a few weeks, and I got carried away making it awesome for you.
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