If you have ever used a coupon, you understand the rush that buying an item for far less than its original price can bring. And in some cases, you get the product for free.
What are coupons?
Coupons are vouchers that entitle a buyer to receive a discount on a particular product. Couponing refers to the entire process of searching for the coupons and using them to get discounts on your shopping. They can be in newspapers or online on sites such as Target.
Couponing takes effort. But is it worth it?
Can You Really Save Money While Couponing?
Couponing can save money if done right. But extreme couponing can turn into an addiction. People who are addicted to couponing spend hours looking for deals. They will go to the store unnecessarily to buy stuff they do not need to use the coupon.
If your couponing is extreme, you need to make some calculations to see just how much you are making and make a judgment if you are wasting time.
Calculate the savings you make from the discounts. Deduct the expenses you incur, such as the internet you use to search for the coupons and the cost of printing. Whatever amount you get, divide it by the number of hours used to get these coupons. You will come up with the amount you are saving per hour from couponing.
How Can Coupons Hurt You?
Without a doubt, coupons can help you save lots of money, especially on items that you buy regularly. But it can also hurt you, making you waste money instead of saving.
Let’s look at a few situations.
Spending Money That You Would Not Otherwise Have Spent
Couponing is only beneficial if you save money. But if you make a purchase to use a coupon, you are making an unplanned expense. You end up wasting money. And the chances are high that you may never use the item. Before buying an item, ask yourself if you would still buy it without the coupon.
Spending Unnecessarily To Qualify For a Coupon
Here is one trick most retailers use. They create a limit of spending, and you can only get the discount upon spending the given amount. The business owner intends to get you to purchase more items. However, no matter how many coupons you have, always stick to a shopping list or budget.
What Can You Do To Get The Most From Coupons?
Here are some tricks you can use to get the most out of coupons.
1. Feel Free To Ignore Some Coupons
One thing you should keep in mind is that it’s okay not to use every coupon you find. If the item on offer is not something you would typically use, such as unhealthy food, you should be strong enough to let it pass.
2. You Should Not Misuse the Money Saved
Couponing loses its meaning if you are going to waste the money you save. You should not save $50 on the purchase of detergent and use the money to buy a pair of shoes you do not need. Instead, place this money in a savings account. Saving is the reason behind couponing. If you cannot save, you are wasting time.
3. Wait Until There Is a Sale to Use the Coupon
Some stores will increase the prices on the items, and then offer discounts. In the end, you buy the product at its original price, with the assumption that you have saved something. Always hold on to your coupon until there is a confirmed sale. Some couponing websites will inform their readers when a particular store has a deal, and advise on the coupons to use.
4. Understand the Company’s Policies on Couponing
Different stores will have varying rules governing the use of coupons. Some stores allow you to use more than one coupon on a single item, also known as coupon stacking, while others do not. Some stores allow double coupling, where you get twice the discount on your coupon. It enables you to save some more.
5. Be Organized
Organize the coupons you collect based on their expiry date and classify them according to the type of product such as beauty, food, or pets. It becomes easier to track what you have and take advantage of deals as they come up. With the excellent organization, you will not lose the coupons or have them expire unused.
Couponing is a great way to save money. However, you need to be smart about it. It should not push you into buying stuff that you do not need or spending money in an unplanned way.
Organize the coupons you collect to avoid missing out on opportunities and study the policies of the store to make the most out of your coupons. Find the best sale opportunities to take advantage of your discounts and ensure that the money you save benefits you.