Does Having a Deep Freezer Save You Money?

Last week I shared some tips on how to save money as grocery prices skyrocket. One of the tips was to buy things now for use later. In other words, if you know you will use something next week or next month and it is on sale at a great price today, then go ahead and grab it before the price goes back up. This is a great strategy, but it can be difficult to do if you have limited storage space.

When my husband and I first got married, we lived in a small townhome that had very limited storage space. Our kitchen was tiny and did not have a pantry. Likewise, our only freezer space was that located above the fridge. After a while, we found ourselves dodging falling items when we opened the freezer because it was overstuffed! We eventually decided to purchase a small standalone freezer. Before making the purchase, we ran through some calculations to see if it would save us money to own a deep freezer. The things I shared about those calculations remain relevant, but the costs of purchasing a freezer have changed. Thus, I’m going to look at some updated information here.

How a standalone freezer saves money

There are several ways in which a standalone freezer can save you money.

• You can buy in bulk. Many perishable items (meats, cheeses, butter, etc.) cost less when purchased in bulk. The cost of a bulk package, of course, may be pricier than the cost of a small package, but the unit cost (the cost per ounce, for example) is generally less. If you have the space provided by an extra freezer, then you can buy items in bulk. This space is also useful for storing bulk quantities of items such as nuts and whole grains. We don’t tend to think of these as perishable, but the oils in them mean they go rancid after a while. Storing them in the freezer delays this process so they are good for a longer time.
• You can preserve the bounty from your garden, your catch, or the haul from your hunt. Many avid gardeners, fishermen, and hunters consider standalone freezers to be essential. This is because they are often the best way to preserve the fruits of their labor. Gardening and hunting can provide you with hundreds of dollars’ worth of food each year, so being able to preserve these foods will save lots of money.
• You can purchase items when they are on sale. As noted above, one great way to save money is to purchase items when they are on sale. This often happens when foods are in season. Berries, for example, are often on sale during the summer months. Having freezer space means you can buy lots of these, freeze them, and enjoy them throughout the year. Additionally, many foods go on sale at certain times of the year because of holidays. Baking supplies, for example, go on sale before Christmas and hams go on sale before Easter. You can stock up on these during the sales and then use them as needed during the rest of the year.
• You can cook large meals and freeze a portion. Cooking large quantities and freezing the leftovers saves both time and money. There are several ways in which this practice saves money. The first is that you use less energy reheating leftovers than you would preparing the dish from scratch. The second is that making a larger amount means you can purchase the ingredients in bulk. The third is that if you have freezer meals ready to thaw and heat, then you will be less likely to purchase takeout or eat at a restaurant, both of which cost more than preparing food at home.

Does the cost of purchasing and powering a freezer offset the savings?

An important consideration is whether the cost of a freezer (the upfront cost to purchase one plus the ongoing cost of electricity to power one) is greater than the amount you will save on food. Simple math helps us answer this question. A good standalone freezer should last for at least 10 years. Using this number plus the prices and Energy Guide tag estimates from the websites of two common home improvement stores, here is how much it costs to own and run a freezer:

• $279.00 (GE 7 cu. ft. chest freezer) + $30/year in electricity for 10 years = $4.83/month
• $599.00 (Frigidaire 14.8 cu. ft. chest freezer) + $35.52/year in electricity for 10 years = $7.95/month
• $698.00 (GE 14.1 cu. ft. upright freezer) + $53/year in electricity for 10 years = $10.23/month
• $719.00 (Whirlpool 15.7 cu. ft. upright freezer) + $56/year in electricity for 10 years = $10.66/month

In order to offset the price of the freezer, each month you will need to save $4.83-10.66, depending on which freezer you purchase. Keep in mind that if you use the freezer for longer than 10 years, then the per month price of the freezer will decrease.

Here are a few other things to keep in mind when considering the price of owning and running a freezer:

• Chest freezers are more energy efficient than upright freezers (they are better insulated and most of the cold air remains in place when their doors are opened). Likewise, manual defrost freezers consume less energy than their frost-free counterparts. You’ll have to decide which is more important to you—price or convenience (though they both use less energy, chest freezers are difficult to organize and manual defrost freezers require occasional defrosting).
• Freezers that are ENERGY STAR® rated will use less energy than freezers without the rating. Some ENERGY STAR® appliances have slightly higher upfront costs. However, they use less electricity, which saves you money over time.
• Freezers are more efficient if kept away from heat (ovens, dishwashers, hot garages, etc.). They will also retain their temperatures better if kept full (but not overfull).
• Convenience doesn’t have a price tag. Many families find it beneficial to have a freezer even if it doesn’t save them money. This is because it is convenient to have the additional storage space.

Final thoughts

One drawback to having a large freezer is that you could lose a lot of food if the door is accidentally left open or you have a power outage. Losing all that food definitely doesn’t save you money! One thing we do to help us avoid this is use a wireless freezer thermometer that transmits the temperature to a small display unit that is equipped with a temperature alarm. This allows us to monitor the temperature in the freezer without opening it (which lets the cold air out) and if the temperature happens to increase to an unsafe point, the alarm will sound so we know to intervene. What has been your experience with standalone freezers? If you have one, what influenced your decision to get one? Does it help you save money or do you keep it for mere convenience?

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