Abby Brodbeck
Mr. Reuter
Economics
October 1, 2014
“Is Couponing Worth It?”
You may have seen on TLC the television show “Extreme Couponing.” In this show, the extreme couponer usually takes a trip to Pick-N-Save and reduces their $800 transaction down to $18. Usually they need help to push all the shopping carts filled to the brim with frozen pizzas and toilet paper to their minivan, need a trailer to haul the massive shopping spree home, and then they spend hours organizing the items into the “storage area” which usually is their garage. But is couponing really worth it?.....maybe...
Recently, investigators from CIC (Couponing Information Corporation) have found that many times, the couponers who are a guest on the TLC show are using counterfeit coupons. The coupons that they find from the “manufacturer” that often offer “free products” and can be used in multiples are often fake. CIC warned TLC of this last year in May when TLC aired shows with couponers basically stealing hundreds of dollars worth of items from grocery stores because the store manager felt compelled to override the invalid coupon code. Currently, TLC is working on creating a more realistic version of the show.
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Even if you aren’t clipping counterfeits, is honest couponing worth it? Back in the day, when coupons actually had to be searched for in the ads and clipped out, the opportunity cost of time and effort probably wasn’t worth the savings. Let’s say that working mom with kids who wants to save money, if she was really serious about it, clipped coupons on average for 3 hours a week (during the time it takes to watch the Packer game Sunday afternoon.) Those three hours should reap huge benefits, right? But with grocery coupons usually only reducing somewhere between 50 cents to one dollar, the total savings may only subtract out to about 24 dollars. The pay for this “job” of cutting coupons is now about minimum wage.
Also, “honest” or “real” coupons usually cannot be doubled up, and unless you were actually going to buy the product without the coupon, then theres another reason the coupon wouldn’t be worth it. My Grandma, who grew up in the Great Depression, is a great coupon clipper, but her logic, like many other’s, is flawed. Sometimes she will spend money on products she doesn’t even need or even want, just because she is getting a good deal. She will see sunscreen being sold at Walmart is only one dollar (!!!) but that dollar is a waste of money if the sunscreen is expired. Usually stores clearance out grocery items because the food is near expiration or just not of high quality and the store needs to get rid of the stock.When it comes to grocery coupons, make your grocery list first, and then try to find coupons only for those items on your list, that way you aren't spending more money on things you don’t really need. My point is, don’t spend money just to save money.
With technology now, coupon clipping is becoming a lost “art” per se, as apps on iphones make it so easy to save money. These apps allow you to easily search for the types of items that you are buying so you don’t waste time clipping. By handing your phone over with the coupon code at the register makes saving money fast and portable. Another tip for couponers would be that coupons which have a percentage savings rather than a cut and dry money value off usually reap higher benefits for the consumer, because they have the power to choose what they buy.
Obviously, unless you were the kid on “Extreme Couponing”, normal teenage hobbies aren’t coupon clipping, but as we get into college and start our lives, we will need to find more ways to make and save money. You can decide for yourself but personally I would rather enjoy my life than cut coupons.
"5 Reasons Extreme Couponing Isn't Worth It." The First Million is the Hardest. N.p., n.d. Web. 3 Oct. 2014. <http://thefirstmillionisthehardest.net/5-reasons-extreme-couponing-isnt-worth-th/>.
"Extreme Couponing: An Extreme Disappointment." Coupon Information Corporation: CIC Position on Extreme Couponing. N.p., n.d. Web. 3 Oct. 2014. <http://www.couponinformationcenter.com/extremecoupon.php>.
"The truth about Extreme Couponing." YouTube. YouTube, n.d. Web. 3 Oct. 2014. <https://www.youtube.com/watch?v=-yNf6w4hRFg>.
I find it very interesting that there are so many counterfeit coupons out there. Where do they get all of the coupons? It hurts all of these companies when the coupons are counterfeited because they lose money. I liked the point about the unneeded sunscreen. Most of these "extreme" couponers stock up on tons of something that only lasts so long or completely unneeded things. These people are addicted to the rush of saving so much money. It's absolutely crazy.
ReplyDeleteI certainly agree with your point in that couponing doesn't save you as much as you think it does. I liked your point about how people buy things just because they have a good deal when in reality they don't even need that item. I was interested in this point because it is so true! Most people when they walk by a great sale, or buy one get one they just can't help but say why not. But if you are in the process of trying to save money, then really you are just wasting money on things you don't need. Like who needs 15 bottles of shampoo at once?! Some people need to realize that sometimes buying only the things you need at that time will end up saving you more money in the end.
ReplyDeleteThis makes sense about how little extreme couponing works with regard to cost versus benefit. Companies probably send out all the coupons to try and get rid of stock and increase sales what we have to remember is that going to the store and buy such and such item is exactly what they want you to do so you end up going home with a couple hundred less dollars in your pocket but you still feel good because you saved 50 bucks. I agree that you have to be smart about it and stick to your goals and find coupons or deals which fit within those goals by offering better deals on comparable substitutes or complements which you would have to get anyway.
ReplyDeleteAbby, you make an excellent point here, and I can definitely relate to this by drawing from my experiences. I personally agree that couponing is not really worth it in today's day and age because, as you said, there are iPhone apps that have the latest technology to help consumers save money. My mom, I know for a fact, devotes her afternoons to cutting coupons before her visits to Pick n Save. Although this is a waste of time for me, my mom doesn't work, so for her, it is sort of like a pastime. I know she is partially guilty of doing the same as your Grandma, in that, if a coupon is "buy one get one free," she will buy two of the same products (even though she only needs one) to make use of the coupon. As opposed to homemakers, or those with a lot of time on their hands, for working parents, this would definitely be a hassle each week. However, my mind operates differently, and when shopping as an adult, I will definitely take advantage of the technology that helps me save money rather than couponing.
ReplyDeleteThis is actually a very interesting post. It's said to see that there are people "stealing" food and half the time food that they don't even use. However there are also people who do this that donate to food pantry's and other organizations like that. And we need those people because they can donate a lot of food and find that worth their time. Personally, I wouldn't have the patience to sit for hours to coupon, but hey if people are in a tight spot, why not use some energy on coupons to save a little.
ReplyDeleteHi Abby! I really liked the idea you picked for your post. It was both interesting and relevant. I agree with your idea that we should not spend money to save money. I have seen people do this exact thing. I, however, do not entirely agree that coupons should be entirely left behind. While I wouldn’t say couponing is better than choosing to enjoy life the fact of the matter is that some people can’t enjoy life unless they coupon. Many people these days get so stressed out about how much money they are spending on groceries, and if they will even be able to pay for groceries, that they cannot enjoy life. Couponing in this instance works as a reducer in stress, and even though it may not save a lot, even a little bit can be a big help. For many people, couponing is a way they can reduce stress in their lives and thereby enjoy it more fully. Coming from a family, where my mom is frequently stressed about money, I can say that anything to reduce stress is beneficial. While coupons may really help some people, the reality is that many people want to save money but don’t have the time. I personally think the best way of going about this is to shop where the food is the cheapest and cut out unnecessary things, such as cookies and soda. By paying attention to prices at different stores it is easy to figure where the grocery bill will be the least. Thanks for this interesting blog post Abby!
ReplyDeleteAbby, I've also watched the show "Extreme Couponing" a few times before and I've always been amazed at how much they end up saving. I never thought about the fact that a lot of those coupons are fake! I have always been curious about how the people on the show would get a hold of coupons that make things free, when the best I see is 10 cents off, but now I know! I wonder how much money is lost each year by the producers due to counterfeit coupons.
ReplyDeleteAbby, I like the view you took on this argument. It was interesting to learn there are so many counterfeit coupons, because I have watched the show before and am never able to understand how people manage purchase hundreds of dollars worth of food for free, or even make money off of it. Another point I really liked was that often times these people stock up on products they have no use for which ultimately expire. Overall, I really enjoyed reading your post, good job!
ReplyDeleteThis blog post really grabbed my attention because my little brother is a fan of the TLC show "Extreme Couponing". I always wondered how they were able to save so much money but now it makes more sense when I read that a lot of those are counterfeit. I also thought about how much money they saved but also how long it took them to find all of the coupons and wondered if it would just be easier for them to get a job and make more money than they would save with coupons but I guess most of the people on the show just enjoy the thrill of saving a dollar.
ReplyDeleteThanks for relating this back to us as students in the high school phase of our lives. I agree that people spend money on things that they don’t need because the price is appealing, and I have watched myself and my family do it before. I think that by making the extreme couponing an invalid way to save money because it is unrealistic helps people not feel as bad when they don’t coupon, so thank you :)
ReplyDeleteAbby! I found this post both shocking and yet not that surprising at the same time. My mother (Who I go grocery shopping with a lot) always likes to coupons so then we would stay within the food budget for our family income. Sadly though after reading this post, its sad to see that there are people who resort to hoarding more or less. It's also really sad to see businesses and firms lose more money to the consumer because of these fake coupons. Overall, I like the stance that you took in this piece and I wonder if shows like "Extreme Couponing" will become more realistic in the future?
ReplyDelete