Thursday, October 27, 2011

How much money can you expect to save by couponing?



I was asked this question today:  How much can I save by couponing?

Well that certainly is a good question but not one that is easily answered.  There are several factors that go into figuring out (your) budget.

1.  Coupon Inventory: When you are starting out it takes a few weeks (4) to start having all the coupons you need to get the "deals"

2.  Couponing Experience: I use the analogy of ridding a bike. 
  • When you start couponing you need training wheels (training, help, questions, blogs to follow), 
  • You may need a push or two (encouragement that you can do it)
  • You may fall (make a mistake on a deal, misread a coupon)
  • But sooner or later you are feeling more comfortable and the training wheels come off
  • You still will make mistakes along the way but with time YOU WILL MASTER IT!
3.  How much time do you have?
  • Shop all the stores or just a few.  If you have the time you can hit several stores to save HUGE! The draw back is that it can be time consuming to clip coupons, organize your trip, and shop.
  • If you want to save A LOT shop (1) grocery store and (1) drug store.  Most of the drug stores sales are similar.
  • Save a little shop (1) store.
  • Either way you look at it you will be saving.  It just depends on time and experience.
4.  Very important!  SET A BUDGET AND STICK TO IT!
  • When you are new to couponing be realistic on setting your budget.  I would suggest cutting what you spend by 25% and see how you do.
  • As your couponing inventory expands, the more experience you have,  the more stores you shop at you can then lower your budget!
  • I use to spend around $600+ a month for a family of (3).  Myself, Hubby, and my Daughter.    That amount just makes me sick to think that is what I spent!  My weekly budget it $70 now.  Some weeks I do go over a little other weeks way under.  Depends on what the stock pile needs and what is on sale.
  • You can over spend when couponing!  YUP YOU CAN!  It is all those great deals that are out there.  Unless it is FREE you need to always keep your budget it mind.  Five dollars here two dollars there it adds up.
 So to answer the initially question 25% savings I think is a safe bet when you are starting off couponing. 

Let's put that into real money. 
Giving what I use to spend $600 a month x 12 = $7,200
$7,200 * 25% = $1,800 A YEAR! 

WHO IN THEIR RIGHT MIND WOULD NOT WANT TO SAVE THAT! 
I know I am CRAZY but that is a lot of money!

How much do you spend now?
How much are you looking to save?
Do you have a budget?

Give us details so we can all learn and share!

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