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Money Savings Tip: Maximize Coupon Use and Save More Money!

by Jason on September 28, 2010

Clipping coupons is no longer just the domain of your grandparents!

More and more people are learning how to extreme coupon and they’re saving a lot money.

There are serious savings to be made by maximizing your coupon use, and you may not even have to get out your scissors for this money savings tip!

With cash still tight for many families it makes sense to get all the money savings you can by collecting coupons and earning discounts.

However, with traditional coupons you usually only save a small percentage on each item, unless you know how to maximize those savings.

Coupons have also surged into the 21st century [sites likes Groupon have become all the rage!] and you can maximize your savings when shopping online by using coupon codes and discounts.

Money Savings Tip: Maximize Your Coupon Cuts

When you are clipping coupons you want to make the minimum amount of cuts for the maximum benefits and you can do this by focusing your search.

Start by stocking up on coupons for large department stores because these stores are always going to have something you need, so you’re not clipping in the hopes you’ll come across a need for an item before the coupon expires.

Once you have your coupons in order, wait for the sales.

While a coupon may give you a few cents off of an item, if you wait until that item is on sale, you can enjoy the sale price, less the discounted coupon price and save even more.

At the same time if the item is not perishable you can stock up at your great low price and keep saving.

Money Savings Tip: Maximize Online Coupon Discounts

You probably already know it can be cheaper to buy online than in store, but many stores are making online shopping even cheaper by running coupon code discounts. There are three main ways you can maximize your savings when shopping online:

  • Collecting coupon codes. Most online stores will have a field for a promotional code which qualifies you for a discount on your purchase. You simply enter a code you have received or found on a coupon site, to redeem your savings.
  • Links to coupon discounts. Just like a coupon code you are rewarded with a discount when you purchase online but you don’t need to collect and enter a code, you simply follow a promotional link and the discount is automatically applied when you reach the online checkout.
  • Online promotions. A promotional link will take you to an exclusive webpage with a discounted offer and you don’t need to enter a code, but can take advantage of discounts and deals such as free shipping.

To maximize the savings you can make using online coupons you need to make sure to get in before someone else does. There are a number of free coupons websites where companies and other users trade and share their offers and you can make significant savings if you search for discounts on items you need or want.

[Jason: Check out Groupon for instance.  They have a limited number of coupons, but they offer incredible deals in your area!  We recently got a $50 Gap coupon for $25!].

Usually you can only use one online coupon per transaction, so don’t stock up thinking you can buy an item for virtually nothing.

Also keep in mind that online coupons are not usually redeemable in store, even if the online store has a ‘real world’ counterpart. You can further maximize the savings you can make using online coupons by coupling the discounts with rebates which are often available on electrical items and can mean additional savings of several hundreds of dollars when you register with the manufacturer.

Shopping online can save you time and money when you can make purchases at any time of the day or night, and you can avoid crowds, parking and the temptation of impulse buys.

It is also in the interests of the retailers and manufacturers to have you purchase online as they save on overhead and staffing costs, so take the time to learn more about how to maximize the savings you can make by shopping wisely and understanding online discounts.

[Check out Wise Bread’s 50 Best Deals and Coupon Sites for more savings!]

Alban is a personal finance writer at Home Loans Finder, which helps to find the best mortgage broker.

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