As a teenager, I can remember rappers and rock stars throwing money in the air, stomping on hundred dollar bills like there was no tomorrow. Since the financial meltdown in the world economy of 2009, however, saving money has come back into fashion in a big way. This last Sunday, I decided to explore how much I could save on items I already planned to purchase. One of the unexpected benefits in being unable to stop giving out my email is that I am sent emails from major clothing outlets, food stores, and other companies. While some of these emails are junk, I open them because they routinely send coupons ranging from 10%-30% off. This translates in to real savings over time.
Retail coupons and coupon codes are available for almost every purchase you make. For example, if your household spends $100 per month on clothing, and you save 10% each month, that adds up to $100 in savings. That’s one full month of shopping that you receive because you shop. Sounds like a no brainer, but using coupons used to be hard. Housewives smuggled tiny slips of paper in gargantuan purses, only to be foiled by gum snapping cashiers. These guardians of the register would promptly decline to accept the coupon for various, unknown reasons. Nowadays, retailers can email you the coupon codes to provide the cashier at check out. In the face of printed advertising with a time and date stamp, most cashiers hesitate to question the customer. The advent of the smartphone makes it easy to scan coupons directly from your phone as well.
Answering annoying questions at the register actually does have benefits. Many companies disguise their coupon program as a rewards or membership program. These programs allow savvy savers receive coupons with compelling offers. I usually throw those away, but the minute I took to look through the junk mail before tossing it resulted in a Best Buy coupon offering $20 off a $100 purchase. Coupons which offer a dollar amount off are best when what you would be buying anyway is within $10 of the coupon amount. Otherwise, a coupon offering a percentage off your total purchase could be your best bet.
Taking a second to find the lowest price on what you are planning to purchase anyway then looking for a coupon is one of the easiest ways to save money. I’ve never been a fan of smuggling bits of paper in my purse, but to save even $30 a week on items I purchase anyway makes it more worthwhile.
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