Snail-mail bargain: Time to buy forever stamps
Posted
May 08 2008, 11:32 PM
by
Karen Datko
Rating:
The cost of a first-class stamp is going up yet again on May 12, by one penny to be exact. The smart shopper will lock in the soon-to-be-departed 41-cent rate for a standard letter 
by stocking up on the forever stamp.
The U.S. Postal Service introduced the stamp about a year ago so people can avoid having to buy those annoying 1- or 2-cent stamps every time the rates go up. The forever stamps you buy now for 41 cents will cover the postage for a letter weighing no more than an ounce no matter how high the first-class rate climbs. Love may not be forever, but this stamp is.
According to the post office, forever stamps have really caught on, with more than 6 billion sold. We like the convenience, plus the thought of avoiding future rate hikes.
But not all bloggers enthusiastically embrace them.
"Mighty Bargain Hunter" said that by locking in today's price for a stamp, he'll miss buying cool stamps like those with the comic book superheroes. We agree, MBH. The forever stamp is bland in comparison. Those superhero stamps are our favorites, too.
And please, don't consider forever stamps an investment. The math isn't there. As The Penny Saved observed: "The postage rates are increased yearly based on inflation -- and this just in: Pacing inflation is not a good investment."
Also, stocking up makes sense only if you use snail mail.
Writes Andrea Dickson at our partner blog Wise Bread, "I try to do all of my bill paying online, since the last time I paid my mortgage with an actual paper check, the bank had no idea what to do with it, and called me, asking why I hadn't paid my mortgage like I always did."
The best advice is to accept forever stamps as a frugal purchase but not a gargantuan savings. Getting a supply good for a year or five sounds reasonable. Writes "BeThisWay" at Are You Going To Be This Way The Rest Of The Time I Know You?: "So, my frugal friends, go buy as many forever stamps as your budget can handle, but please don't take out a second mortgage. And please walk, because the price of gas will undo your frugal coup before you pull out of the driveway."
"Now," says Xin Lu of Wise Bread, "if the government introduces a forever gas stamp that guarantees a gallon of gas for today's price, then I would definitely stock up $8,000 of that stamp."
