Basic couponing is a great way to save some money, but if you really want to save a lot of money, you have to get more extreme. Extreme couponing is using a large quantity of coupons and other saving techniques to acquire a significant number of products at a deeply discounted price. Discounts can range from 50% – 100% off the purchase price. It is a great way to save money, but it is not for everyone. In this post I look at what to consider before becoming an extreme couponer. The points below are not in any particular order.
Do you have the space?
To get significant savings through extreme couponing, you must buy in bulk. These purchases need to be stored somewhere. If you have a small square footage to work with, this may be a problem as the products take up space in your home.
Do you have the time and money?
Most extreme couponers dedicate a set amount of time each day or week to go through coupon offerings. This includes perusing through newspapers, magazines, email subscriptions and apps for savings. The level of dedication to saving money can take up hours.
Another factor to consider is the time and gas money or transportation fare needed to shop at multiple stores that offer these discounts. Many extreme couponers can save enough money to make the cost of gas or transportation negligible. It really depends on what is important to you.
Do you know the lingo?
If you follow other extreme couponers you may come across terminology that is unfamiliar to you. Understanding couponing lingo will make your shopping experience a more pleasant one. Below are 10 common couponing terms:
|Stackable coupons||You can use manufactures coupon in addition to the store coupon for added savings. Stackable coupons can make a product cost close to $0.00 if used correctly|
|Double coupon deals||When a coupon is worth twice its value. So a coupon for $1.00 off will be $2.00 off during double coupon deals|
|OYNO (on your next order)||Also known as a catalina (not to be confused with the island just off the coast of South California), this is a checkout coupon you can use for money off your next purchase. These coupons are printed on the bottom of your receipt.|
|MIR (mail in rebate)||A partial or full refund offered by the manufacturer when a certain quantity of their products are purchased. Rebates are mailed after customer sends the manufacturer proof of purchase|
|Coupon inserts||These are coupons that appear in other places like newspapers and magazines.|
|Peelie||Adhesive manufacturer coupons found on products in the store.|
|BOGO (buy one get one)||BOGO deals require the purchase of one item in exchange for receiving the second item at a deep discount or for free.|
|Rain check||A written slip that you can request from a store when a sale item is out of stock. When the store restocks the item, after the sale period is over, a rain check entitles you to the purchase for the previous sale price.|
|eCoupons||eCoupons do not require printing and clipping of coupons. Instead, they are downloaded onto your store loyalty card or other apps on your cell phone.|
|Tear pad||A pad of manufacturer coupons found near product on shopping aisles.|
Are you flexible on when to shop?
Saving money through extreme couponing can be a thrill. However, it is important to be aware that other shoppers may not share in your enthusiasm to save money. Using multiple coupons when shopping can hold up the line at stores. So, avoid shopping during peak hours and be friendly and respectful to the cashier and customers behind you at checkout. You can also let the other customers behind you know that you will be using a lot of coupons which may hold up the line.
How you organize coupons makes a difference. Here are three common organization techniques and their benefits and drawbacks:
- Organize by expiration date: organizing coupons by expiration date is quicker, but harder to find the coupons you need in a timely manner.
- Organize by category: organizing coupons by category is time consuming, but easier to spot the coupons you need.
- Organize by category: then expiration date: this method is the most time consuming but provides the best results. By first organizing by category then date, you can quickly find the coupons you need and ensure you do not miss out on deals.
Is brand or store loyalty important to you?
The main objective with extreme couponing is to get the best deals for the least amount of money. If you prefer one brand or store over another, you may find it difficult to save a lot of money. If you have a strong preference for certain products make a note of it and watch for deep discounts, then buy in bulk.
Do you need or want the item?
If you save money on items you will never use, this is actually a cost to you, not a savings. The main rule when shopping is to always ask yourself whether you need or want the item you are purchasing. This is even more important when couponing because it is easy to be fixated on saving money and dismiss altogether this crucial question.
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