While the craze around extreme couponing, as shown on TV, has somewhat softened, I still observe a lot of people inundated with the thrill of bagging a bargain or amassing free things. I have a friend who dedicates numerous hours to visiting various Toys R Us and Target stores in an attempt to find mislabeled clearance items. She’s made some superb finds, but it’s challenging to rationalize saving $100 on items that required 20-40 hours of diligent bargain hunting.
Here’s a rapid test to ascertain if couponing is hijacking your life:
ARE THE ITEMS YOU ARE GETTING DEALS ON NECESSARY?
Couponing can be advantageous, particularly when you get items for free. Yet it’s crucial to only coupon for things you really need. It might seem like a sweet deal name-dropping the fact you bagged 50 bottles of mustard and earned 25 cents off each, but it might not actually be that good of a deal. For instance, if those mustard bottles entailed 2-3 hours of solid effort, you’re not exceeding a wage of $6.25 per hour. Let’s not forget you probably won’t need that much mustard and the amount of space taken up by these bottles in your home.
Christy Rakoczy, a former extreme couponer, told in her Money Crashers article that she ceased couponing since she began purchasing unnecessary items like diabetes monitors just to get others for free. In hindsight, she got some essential items complimentary but most of her purchases turned out to be pointless for her.
On the note of my friend, while she came across some great toy bargains for her family, let’s ground ourselves in reality — do children really need more toys?
ARE YOU SPENDING YOUR TIME WISELY?
Time is a precious asset that many are wasting. A lot of people look at couponing as a side job that helps their family, but could it potentially be a low-pay obsession that eats into crucial family time? If you are serious about economizing or making some extra money, there are several more efficient ways. Compute the time invested in couponing and subsequent shopping, then weigh it against the savings. This evaluation will help you determine if couponing is worthwhile.
ALTERNATE WAYS TO CURB EXPENSES
There are plenty of other superb methods to save money that aren’t time intensive. For instance, purchasing used goods or just reducing overall consumption can save you a significant amount each year. Here are some other money-saving alternatives:
– Make your own laundry soap
– Cut out cable TV
– Go down to one car
– Home brew your coffee or latte
– Pack your lunch
– Limit dining out
– Bake your own bread
