Some individuals are avid couponers who have perfected their couponing game. They spend hours hunting for opportunities to optimize their coupon savings. Their couponing methods often help them bag cashback or save double. And, yet so many individuals do not take couponing seriously. Mainly because they are not sure how it works and if it will help them save money. Read on to find out if couponing actually pays off, or if it’s just a time-consuming activity.
What’s Couponing?
Couponing is the method of looking for coupons by checking promotions in magazines and newspapers and searching for promo codes on the web (via retailer websites or apps or coupon-specific apps).
Why do retailers give coupons?
Retailers are aware that the more discounts they offer, the more likely you are to visit their store to make purchases. Many stores markdown their products so much that they’re actually selling them to you at a loss. This doesn’t mean they don’t make any money. The discounted products act as bait to lure you into their store. Chances are that you might purchase the discounted item and a bunch of other items, helping the store make some profit.
Does Couponing Actually Help You Save?
Of course, when purchasing a sale item using a coupon you found, you save money. But did you actually save money if the item you bought wasn’t something you needed? For example, you have a $250 grocery budget. While shopping, you come across an amazing coupon for a new set of pots. So, you spend half your grocery shopping allowance on buying the pans with your coupon at a discount. Have you really saved money by doing this?
It might sound like you are saving money on paper, but it may not even count unless you have really tried to find a discount on something that was on your list of items to buy. In fact, if you keep buying things you don’t really need, you may end up spending more. However, it’s true that couponing could help you save money if you can stop yourself from making unnecessary purchases. However, before you pick up a coupon, make sure you create a budget for yourself and stick to it.