I use a lot of coupons. As a result of this, I get makeup for free or very inexpensively. I used to keep everything in one large bag, but it was hard to see what I had. I now separate my makeup into individual makeup bags. You can also use plastic zip-top or slider bags as well. I now can easily see how much of each type of makeup I have, and, if I'm running low, can keep my eye out for a good sale.
In addition, if the makeup comes on a card, I write the day I purchased it. This way I can use the older items first.
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