Everyone likes saving money but sometimes the quest to save a few dollars can get out of hand. These days there are not only tip websites but entire shows such as Extreme Couponing dedicated to showing you how to save big bucks using coupons. While that sounds great there can be a dark side to this couponing craze.
We've all heard the stories, people who got a cart full of groceries for just $1 or who actually got cash back from their purchase. It sounds great, doesn't it? All that food for a low, low price. Who wouldn't want to get a deal like that? The more important question to ask yourself is whether or not you need and will use the items that are part of that great deal. If you will, great. If you end up buying items that you wouldn't normally purchase, or worse items that you ultimately don't use, you've wasted money and haven't saved a thing.
As you get caught up in the thrill of huge savings keep these key factors in mind:
- Is it my usual brand?
- Is this an item that I need and will use?
- Does this item expire? Can I use it before it goes bad?
- Do I have room to store this item if I buy it in bulk?
Often coupons require bulk purchases which can really create problems with both storage space and your ability to use the items before they expire. Always check your dates carefully and consider your typical usage patterns for each item. If you have to use an item more frequently than normal to use it up before it goes bad you have simply increased your consumption of that product, and that won't translate into real savings. Similarly if you have to spend money on storage solutions to corral the multiples of items that you've purchased, you are once again losing money rather than saving.
The goal of couponing should always be to save you money on the things that you buy. If it is costing you money, it clearly isn't working for you. Have you ever used a number of coupons and then been shocked that your weekly grocery bill was higher than normal? This is another example of coupons costing you money. If you typically buy the store brand, but get the national brand because you have a coupon, you may end up paying more than you normally would. If you usually only buy one package but have to get three to use your coupon, you're spending more this trip. Beware the free item with purchase deal as well. These sound great, you're getting something for nothing, but remember there is always something in it for the retailer. They are likely encouraging you to buy more of an item than you normally would in order to qualify for the free item. Does the deal specify a particular flavor, color, etc? It's likely that they are using this promotion as a way to move a less popular variety of their product. If that happens to be your personal favorite, you're in luck. If it's a variety you've never tried and you end up not liking it, you're going to be sorry that you're stuck with several of them to use before you can switch back to your preferred kind.
Coupons can be a great way to save money on the products that you buy. It's important to stay focused on your saving goals and to not get caught up in the craziness that can come with couponing.
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