Have a Merry Little Coupon Day!

Let’s talk about coupons again because I don’t think enough has been said about them.  I want to cover three points on coupons: scams, outdated information, and bad choices.  Now you probably have heard about coupon scams before.  But I have a very special type of scam in mind.  So let’s get right to it.

Consumers sometimes scam retailers with bad coupons.  I am not saying you are the bad guy, but let’s face it.  There are some people out there who, in order to “save” money, try to run bad coupons past retailers.  These people know the coupons are either fake or outdated.  And a good store may try to curry good will with a customer by honoring a coupon that is questionable, but these cheats really spoil the pot for the rest of us.

We don’t talk about the bad behavior among consumers as much as we should.  A coupon deal is only good for a limited time.  Now some retailers might bring out a lot of coupons throughout the year, but they have to be careful about how much of a hit they take on coupons.  You may be thinking, “But these big companies are making huge profits.  They can afford to be a little generous.”

You know, I feel the same way you do about their profits, but one of the ways big companies keep their profits up is to lay off employees, or not hire employees when they need more help.  So your little outdated 50 cent coupon may not seem like that big a deal but 50,000 50 cent cheats on coupons per year can mean someone goes without a job.  A lot of store employees make at most $25,000 a year.  In a country of 300 million people it doesn’t take much for 50,000 to cheat on coupons.  That is just a tiny fraction of 1% of the population.

Outdated Information is A Challenge, Not an Excuse.  I don’t mean an excuse for cheating on old coupons.  I mean you should not use outdated Websites as an excuse not  to look for coupon deals.  You can create a list of bookmarks of good Websites that have the kinds of coupons you need to save money on what you normally buy and keep them updated.

There are some pretty good general information blogs about coupons.  These sites are not offering the coupons themselves.  They just point you to where you can find the coupons.  And some sites also explain how supermarkets use coupons, maybe to manipulate you, maybe to help you.

You owe it to yourself to keep looking for the latest information about coupons, coupon fads, and the advantages and risks of using coupons.  Otherwise you could be walking away from substantial savings in your annual budget.

Finally, let’s talk about bad choices.  I mean the bad choices that we make as consumers.  Here are just a few examples of bad purchasing decisions I have made in the past:

• Buying too many about-to-expire products on clearance.
• Buying too many items to “save money” with coupons.
• Expecting every store in a chain to have the same sales and inventory.
• Driving out too much gas looking for “that thing on sale”.

Just because you have a coupon or know about a sale doesn’t mean you should be buying what is offered.  The first and obvious question you should be asking yourself (always) is “do I really need this”.  But once you decide you really do need something, how far should you go to get that savings?

The worst mistake I know people make is driving farther than usual to take advantage of a sale.  If you don’t allow for the cost of gasoline in whatever you spend, you are probably spending too much money.  You might save $3 but is that really worth a 30-minute drive to get to the store and back?  I don’t think so.

Frugality is not always defined in terms of how much less you pay for something you need.  It also includes how much less effort you go to in order to acquire what you need.  Being more efficient with your time and resources means you’ll come out ahead in the long run.  You’ll incur fewer incidental expenses and have more time for other important matters in your life, including getting in some vital relaxation and rest.

I believe the frugal lifestyle is the best way to manage your money.  But don’t get so caught up in the idea of “saving money” that you allow yourself to spend more than you should.