Couponing - Waste of Time or Smart Side Hustle?
Today’s economy makes it hard to get ahead, and saving money seems like an obvious way to get there faster than the average person. But, does extreme couponing really help you achieve your financial goals? Or is it just an expensive waste of time? Learn the pros and cons of extreme couponing to decide if it’s really worth your while!
The Pros
Couponing can be a great way to save money on groceries and other necessary household items. It can also be a fun hobby, allowing you to meet new people and learn new skills. Plus, couponing can be a great side hustle, allowing you to make extra money to put towards your savings or debt payoff goals. If you want to get started with couponing, there are many resources available online that will teach you the basics. You can find coupon blogs and sites, like The Krazy Coupon Lady, to help you stay up-to-date on coupons for all of your favorite stores. But if you're not careful about what coupons you're using at each store, it could end up costing more than just buying products without coupons in the first place. For example, one popular strategy is extreme couponing, which involves purchasing as much product as possible from any given store so that it doesn't go bad before it's used. Extreme couponing does have its risks, though. One risk is that by buying large quantities of an item, you may unintentionally buy something you don't need. Another risk is that retailers may change their coupon policies due to shoppers' overuse of them, meaning they may no longer accept these types of coupons in the future. Finally, some experts argue that this type of lifestyle is unsustainable because it takes time away from other tasks, such as family life. And when done incorrectly, extreme couponing can actually result in higher grocery bills because there are often costs associated with obtaining and stockpiling the coupons. That being said, if you use common sense when managing your coupon stockpile and shop carefully at different stores, then couponing can be a smart side hustle for those looking to make some extra cash!
The Cons
Let's be real - couponing takes time. A lot of time. You have to research what coupons are available, clip them, and then hope that the store you're shopping at accepts them. And even if you do all that work, you might not end up saving that much money. For some people, couponing is more trouble than it's worth. But for others, it can be a great way to make a little extra cash in their spare time. If you use your coupon savings on groceries for your family or to purchase supplies for your own home business, couponing can save you a lot of money over the long run. It's important to evaluate how much time you want to spend on this activity, though. For those who want a part-time job but don't want to go into an office every day, taking the time and effort to become skilled at this skill can really pay off! There are also many websites out there with instructions on how to coupon effectively. So for those who want to give it a try, here are three steps: 1) Go online and search for deals; 2) Keep track of what you buy so you know when your favorite items come back around; 3) Clip coupons from newspapers and magazines. With these three steps, anyone can get started with couponing!
My Opinion
I think couponing is a smart side hustle. It takes time to learn how to do it effectively, but once you get the hang of it, it can save you a lot of money. I think it's worth the effort to learn how to coupon properly. Coupons are constantly changing and many times they are only valid for a certain amount of time so there's always something new to look out for. You don't have to use coupons 100% of the time, which means you still have room in your budget for other expenses. My favorite way to coupon is through online shopping sites such as Amazon, Ebates, and Groupon because you'll be able to find deals that would otherwise be impossible with just newspaper coupons. For example , if you're trying to buy four bars of soap from Bath & Body Works at $10 each, using a 20% off coupon will bring the price down to $8 per bar. In this case, it might not make sense to try and double up on Bath & Body Works products by also using another coupon like one for 15% off on orders over $25. But if you combine these two discounts together, you could end up paying less than half the original cost of all four items! When it comes to clothes shopping, I usually don't bother looking for coupons since everything seems to change frequently enough without needing any extra help in lowering prices. If you're someone who likes fashion trends though, consider following certain designers or stores via social media channels like Instagram and Facebook to find when sales go live before anyone else does!
Why I Stopped
I stopped couponing for a few reasons. First, it was taking up too much time. I would spend hours clipping coupons and then trying to find deals that matched them. Second, I wasn't really saving that much money. Yes, I would save a few dollars here and there, but it wasn't worth the time investment. Third, I found that I was buying things I didn't need just because they were a good deal. This led to clutter and wasted money. It also made me feel guilty. In retrospect, I think couponers are probably more likely to overspend than people who don't use coupons because they feel like they're getting such a great deal on everything. When you're shopping with coupons, you can get caught up in the thrill of finding an amazing sale and forget about whether you actually need something.
I'm not against using coupons as long as you know what your limits are. But if you find yourself feeling pressured to buy things that you wouldn't normally buy or feeling bad about not spending enough, it might be time to step back from coupon hunting. If you have no problem with couponing and want to continue, set a strict budget for how much you'll spend each week. If you go over budget, stop buying anything else until next week!
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