Everyone wants to save money! So many people will turn to coupons. But Can Couponing Really Help You Save Money? Here’s the Truth!

 

Can Couponing Really Help You Save Money? Here’s the Truth

Almost everyone had gotten home from a bleary day of running errands, set about putting things away, and wondered to themselves: why the heck did I buy this? With origins as hunters and gatherers, humans have a long history of feeling like they’ve done a good day’s work if they come home with their hands full; it used to be that finding things, picking them up, and carrying them home meant survival. Nowadays, it can mean an unhappy bank account.

Despite the changes in how humans secure the things they need, our biological framework is still much the same as it was in prehistory. We get a dopamine rush every time we make the decision to buy something, and this can mean chemical urges to make choices that aren’t financially wise; it also means that it’s relatively easy for salespeople and marketers to play off your basic instincts and convince you to buy things.

Playing off these ancient inclinations, marketers have filled digital and retail spaces with clever tactics—discounts, sales, and point cards that actually result in you spending more money than you’d intended on things you didn’t even come into the store for.

Knowing this, how do you combat these tactics? Are there ways to save money and take advantage of sales strategies? In short, yes. The following will explore one element of marketing in detail: coupons. The goal is to explain how you can use coupons to save money without being beguiled into purchases you don’t want or need.

Can Coupons Save You Money?

First and foremost, let’s get the basics covered. Coupons can truly help people save money. Studies estimate that using coupons weekly can result in savings of 10% to 15% on your grocery bill. If government figures are correct and the average family of four is spending around $6000 per year on food, housekeeping supplies, and personal-care products, this means the average family could be saving somewhere between $600 and $900 using coupons.

How To Use Coupons Effectively

Of course, this doesn’t mean that coupons can’t be used by manufacturers to encourage sales. When working with coupons, you want to focus on seeking out coupons specifically for the items you’re shopping for. You can use coupon platforms or simply search for coupons pertaining to specific purchases you want to make; for instance, if you’re looking to get the kids new clothes from Aeropostale, why not search for Aeropostale promo codes? You’ll be surprised how easily you can find specific coupons using the internet. Simply enter the code if you’re shopping online or screenshot the coupon if you’re shopping in-store.

Who Uses Coupons?

Studies have found that the wealthier a person is, the more likely they are to use coupons. Coupon users also tend to have higher levels of education. Top coupon users have higher incomes, with the biggest users of coupons being households with incomes of $150,000 or more each year. Study after study finds that the people who build wealth in their lifetimes take care to find deals and not spend any more than they need to. And don’t for a second think that coupons are out of style or uncool; celebrities like Lady Gaga and financial gurus like Warren Buffet and Bill Gates. Saving money when it takes little to no effort shouldn’t be thought of as passe; it’s wise.

Time Preference

Time preference is a term used in both psychology and economics. It has to do with whether a person is more focused on gains in the present or gains in the future. Couponing fits perfectly into this concept. It takes a few extra moments of your time to flip through a flyer or to conduct an online search for what feels like a small gain in the present. Saving 25 cents might not mean a lot to you right at this moment. However, if you saved 25 cents on 20% of your purchases for a year, you suddenly have a nice big chunk of money. You can then invest in other things.

The above information should have highlighted how coupons can save you money. Just in case you’re not convinced, consider the fast math: The average couponer saves at least $30 per week ($1560 per year). The top 20% of couponers save over $50 per week ($2600 per year); this is equal to a pay raise of 6.25%. When you compare that to the average annual raise of 3%, you can see that couponing actually saves you a lot of money. More money than the average pay raise would give you. Imagine doing that for five years, ten years, or even thirty years?