If you’re like some people, you religiously forage through online websites and carry out tedious and time-consuming coupon-cutting to save money. But is couponing worth it?
Read on to find out.
Do the Math
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Numbers never lie. They tell it as it is. Crunching the numbers can help you understand if your financial situation is improving or not.
This is the same with couponing. You will get to know how much you can spend and how much time you will need to acquire and use a coupon successfully.
To get the numbers right, you can try out couponing for a month.
During this period, ignore any stereotypes concerning couponing and go all in. Look for ways, either online or manual, to get your hands on as many coupons as possible.
While doing all this, ensure to record the number of time you spend on online websites, cutting coupons, visiting grocery stores and sorting out your coupons. This will go a long way in determining if the time spent is worthwhile.
Since the aim of couponing is to save money, how much money will you save after using the coupons you have received? Is it worth the time and the effort made to acquire them?
Be sure to record all your savings from the coupons redeemed within the month. If, for example, you redeemed 3 coupons and saved a total of $45, record this sum down.
Is Couponing Worth It?
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You’ve concluded the month and have been couponing successfully. You’ve made your savings and bought several items. This is great, isn’t it?
Well, don’t celebrate just yet. How much time did you spend online looking for viable coupons? How much time did you spend cutting, sorting, and redeeming your coupons? And will you be using all the items you bought?
The phrase “time is money” is relevant for determining the time you spend investing in something and the actual financial benefit gained.
While you can increase your savings from couponing, you’ll have spent a lot of time working on them.
Assume that you’ve saved $60 in 3 hours, after redeeming five coupons. This means you’ll have earned $12 per hour.
How much money would you have earned while at work?
Couponing can be tricky. You may get a tasty deal that you can’t let go. Once you buy the item, reality strikes that you have no use for it. In the long run, you’ll not only have wasted money but your time too.
As a money-saving tactic, extreme couponing may not be as effective as you think.
Strike the Right Balance
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The true value of couponing is finding the right balance between money saved and time spent couponing. Always ensure that the time you spent couponing is much less than the total amount you intend on saving.
If your records show that you spend a lot of time relative to the amount saved, then couponing isn’t for you.
So, is couponing worth it? The answer lies with you.
Are you aware that cleaning too much is bad for your health? Check out our article for more information.
