Cutting Costs By Clipping Coupons
October 22nd, 2007 | by rachel |
Month after month, one of the most expensive spending categories in our budget is FOOD. One of the ways we try to control our food costs is by using coupons. Without questions, coupons can save money. Even casual coupon usage can add up to significant savings over time. If you use coupons, you are not alone. According to the Promotion Marketing Association, “coupon clippers represent 86% of the overall U.S. population.” Additionally, “manufacturers offered over $300 billion in coupon savings in 2006″. Using coupons is not difficult but, as with anything, there are certain strategies that can make your efforts more successful. Read on to learn more about these strategies.
- Determine your primary motivation for using coupons. Are you more interested in saving money on a certain brand? Do you limit your shopping to a certain store or particular geographic area? Are you trying to save money more than anything else?
- Remember that coupons are a marketing tool. Even when they offer you coupons, sales and featured items, manufacturers and store managers are MOST interested in selling their products. In a sense, the coupons are “bait” to draw you toward all the things that are priced regularly. With that in mind, make sure that the coupons you are using are for something that you need and that the coupon will actually save you money.
- Buy to suit your time and space. If you can save money and you have space to store what you buy, bulk buying may be a good deal for you. If not, you may save more money by shopping on a weekly or bi-weekly basis and only buying what you need for that time period. Coupons can end up costing you money if you are buying something that will spoil before you use it or that may be damaged because of storage issues. Think about what works best in your situation and tailor your coupon usage to your specific circumstances.
- Organize your coupons. Coupons come from a variety of sources - newspaper, mail, online, promotional codes, rewards programs, etc. Once you start using them, they will pile up in a hurry. You will have to decide how to organize them (and how to decide which ones you will actually use). From envelopes to binders to shoe boxes, there are lots of methods of keeping track of which coupons you have and being able to refer to them while you are shopping. Again, you need to choose a way to organize the coupons that makes sense TO YOU and that fits with your shopping habits.
- Shop without distractions. For me, this means shopping without my children! For you, it could mean shopping at “off-peak” times or making sure to shop when you are not hungry. Whatever it means to you, be aware that you will need to be able to look at the items you are buying and evaluate them for size, price, etc. It may be helpful for you to carry a calculator when shopping to track your “sale” items and your overall cost for the trip.
- Use a shopping list. Grocery stores are not laid out efficiently. They are laid out so that shoppers will have to go through most areas of the store to get to the most commonly purchased items. In most cases, basic necessities are along the outside walls. Knowing this, you should have some plan when you shop. You do not have to have all your menus planned for the next 6 months, but it would be helpful to have a list so that you are not wandering while you are shopping. If you have a list and you make yourself stick to it, you will actually be able to realize the savings from your coupons instead of seeing those savings eaten up in impulse purchases.
- Understand the “coupon language”. On occasion, I have seen and read about women that are able to actually make money from their coupon usage. Using coupons to that extent takes some planning, commitment and execution. Even if you are not expecting to use coupons on that level, you will be well served to familiarize yourself with the language of coupons. One web site that I found with some excellent information along those lines is the Grocery Coupon Guide. There are thousands of other web sites that address coupon usage and even more that offer printable and online coupons.
More than anything, don’t let yourself be overwhelmed. Even if you just use a coupon or two every once in a while, you are still saving money. And let’s face it, every little bit counts!