Saving money starts with an attitude dedicated to saving. It takes time and energy, but the end result can be exciting. Today I will discuss using coupons, tips for saving, what to be aware of and stockpiling.
There are a few terms that you must know in order to use coupons for the biggest savings. First is doubling. This is when the face value of a coupon is doubled. Stores have different policies on what they will double, but rule of thumb is any coupon .50 or less will be doubled where it is allowed. Second is stacking. This is using a manufacturer coupon and a store specific coupon at the same time to maximize savings. Most stores allow this as well. Third is competitor. This is when a store will accept another stores coupons. Lastly, BOGO sales have the greatest opportunity for savings. When you get both items in a BOGO sale you can use two manufacturer coupons AND two store coupons on the purchase.
I follow the same routine every week when I shop. I only buy items when they are on sale and I have a coupon. Most sales run every 6-8 weeks, so if I miss a cycle I can always catch the deal the next time around. I try to always buy enough of an item to last until the next sale cycle. By doing this I am able to maximize my savings. I am not brand loyal on everything. Like anyone there are some things you have to be brand loyal about. For me it’s Kraft macaroni and cheese . But for many things it is cheaper to not be. By not being brand loyal I can get toothpaste, deodorant, shampoo and many other things for free or close to it. Don’t use coupons on items that are not on sale. It doesn’t save much in the big scheme of things at all. Leave your kids at home! This is so important if you are able! Kids can add a lot to your total if you aren’t careful. If possible shop the first day of the sale so that you don’t have to worry about the store being out of the sale item. Last, plan before you shop! Look through the ads, check out your coupon blogs/sites, make your list based on sales, get your coupons together, THEN shop!
When shopping there are some things you should be aware of. When starting couponing you should start a pricebook to keep track of regular prices on the items you routinely buy. This will help you in determining when something is a deal. When shopping 10/$10 deals you do not have to buy 10 items in order to get the $1 price. If something is on sale 2/$4 you do not have to buy both in order to get one for $2. A limit on the number of an item you can buy does not make it a good deal. You wouldn’t notice a 2/$4 sale, but you would notice a 2/$4, limit 2. Don’t fall for it! Bigger is not always better. While the cost per unit might be smaller on the larger item, sales and coupons may make the smaller item cheaper. Make sure your cashier scans all you coupons and that all of your items ring up correctly. If there is a mistake make sure you go to customer service before you leave the store. This means if you check the receipt in your car and there is an error get out of the car and go to customer service.
I mentioned stockpiling earlier and want to clarify what I consider stockpiling before images of three years worth of toilet paper goes through your head! Start your stockpile slow and only ever get what you would normally use. If it’s a really good deal (or free) get as many as possible with the coupons you have and your budget will allow. For example, several months ago Kroger had Colgate toothpaste 10/$10. I had four $1 off Colgate coupons, so I got four tubes of toothpaste….for FREE! We don’t use Colgate so it was donated to the help center in town. Any time the deal is that good, even if it’s not something you would use, get it and donate it. Last, know how much you use. Pay attention to how long shampoo and soap last so you can know how much to buy during sales. I highly recommend this so that you never have to pay full price. At the same time, I do not advocate having years and years worth of supplies piled up in your spare room or garage. Stockpile, but do it intelligently!
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