Coupons not worth the effort
I know a lot of people who love coupons — they organize them, save them and remember to tote them to the store when they shop. They say they save money and have a lot of fun doing it. Good for them.
Me, I can’t stand coupons. Not only am I too disorganized to clip them, track them and remember to tote them to the store, I always end up spending more than I wanted to while buying stuff I didn’t want in the first place.
Here’s an example: Last summer, a local restaurant that had just opened gave out flyers with a $20off coupon. So we went. After four meals and a couple of glasses of wine, the bill was around $120. Being able to take $20 off felt good, but we still ended up spending $100 on a dinner out we really didn’t need in the first place. Sure, it was fun, but at the end of the day, we really didn’t feel like we’d saved money (which is the point of coupons, right?).
Why else do they drive me mad? Going BOGO Buy-one-get-one — or BOGO — coupon deals are another trick retailers use to get more of your money. Our local burger joint offers these sometimes — buy a burger, get a second at no cost. That’s fine if we’re planning to go there — and remember to take the coupon. But if you didn’t plan to buy something in the first place — or you don’t need it — then why do you want to have two?
More often than not, I come across BOGO coupons that offer a second item at 50 per cent off. So, you end up going to buy something you need (i.e., a sweater) and then have to buy something else for the privilege of your discount (i.e. a pair of purple cords you will never, ever wear). The time bomb Sites such as Groupon have capitalized on the coupon craze — it can be a great way to try new things and get deals on stuff you might really use.
But the ticking clock on offers can pressure you to make snap decisions. There’s no time to think about whether you’ll really use those 10 yoga classes, or if that knife set is a good deal.
Some of these coupons also come with fine print — last year, a friend of mine jumped at an offer for spinning classes at a local gym, only to find out she had to use them within six months.
A snowbird, she ended up going to Florida for the winter without taking a single class. Is it the cheapest way? Coupons are often for more expensive brands, or brands I’m not really that keen on trying. Have you ever seen a coupon for no-name canned tomatoes? Or cheap and cheerful socks?
If you do the math, you might find that your normal brand is still cheaper.
Or, worse, you could run to the store to use your coupon, only to find the same thing on sale three to four weeks later at an even deeper discount.
I’m not knocking coupons for everyone — they just aren’t for me. Remember that the point of coupons is to get you to try new products or stores. They might not actually save you money in the end.