Josh Elledge - Chief Executive Angel
We often hear people say they would use coupons, but it's just not worth their time. But is it really true they take too long and don't add up to enough? Let's look at the facts in a different light. Because no two situations are exactly alike, follow these steps to see if coupons really are for you, but you just never thought of it that way”¦
(1) Divide, to the minute, how much you make per hour. (Such as, $9 per hour = $.15 per minute.)
If you currently do not have a job outside the home, choose a reasonable amount to compensate you for all you do. Average the hourly wages of similar jobs ““ secretary, nurse, coach, cook, taxi driver, etc.
(2) Add up the total spent on all grocery items in one week. Be sure you include all trips to any store.
(3) Check out just two coupon sources and add up the values you missed out on. Use www.savingsangel.com/coupons and www.savingsangel.com/smartsource . Also note coupons for similar items, but just a different brand.
(4) Divide those savings by the time it would have taken you to print and redeem only the coupons you found. Rule of thumb: Each coupon takes approximately 2 minutes total to print, clip and redeem. So, even if you only found $6 in savings, that's $.60 per minute you didn't save. (10 minutes divided by $6). In other words, you lost 4 times your income.
More compelling thoughts”¦
(1) Consider this scenario:
You've found two people selling a particular item you need. One is willing to give you a lower price to earn your business. The other wants double the price you expected to pay. Would you buy from the first or the second seller? It's a no-brainer!
Using coupons is like that. Through coupons and incentives, stores and manufacturers are willing to give you a lower price – to earn your business. Or… you can pay full retail (nearly double) – week after week. It's up to you.
(2) Using coupons keeps you focused on the best deals. Shoppers who go armed with information, a plan and coupons spend much less on impulse buys. Honestly evaluate your receipts. How much extra are you spending just because things sound or look good? No telling how much more you'd save above the coupon values themselves.
(3) The total you save using coupons is a straight amount ““ no taxes taken out, no health insurance, no union dues. Once your check is all cut up, how much do you really bring home per hour? Per minute?
(4) If your boss asked you to take one extra hour to prepare prior to completing a regular weekly task ““ but offered to pay you 4 times as much to complete that task ““ would you do it? Or would it not be worth your time?
