Coupons: Money Saver or Scam?
December 01, 2010I’ve seen a lot of buzz recently about saving money by cutting coupons, and so I approached my wife with the idea and let me just say it wasn’t quite the reaction that I was expecting. I mean I figured there would be a little push back, but after 30+ minutes of heated discussion, I felt that I had to defend the holdouts to the coupon revolution (and thus regain my moniker as “The Rebel”). Now I confess, I don’t know exactly what is involved in “couponing,” but I’m pretty sure it has something to do with saving money, and that is what piqued my original support for the cause. So here’s how it went down:
A few weeks ago I snuck into the kitchen while my wife was finishing the evening’s dishes and began with a subtle hint. “Hey Susan, check out this Web site one of my colleagues found.” She hardly glanced up from the sink. I continued, “According to my friend, her sister saves a ton when she shops using coupons.”
“Oh yeah,” she says, unconvinced. “Good for her.” Strike one.
A little time later…
“I heard on the radio someone talking about how they actually made money buying stuff when they used coupons.” My wife didn’t even bother to say anything, she just glared at me. Strike two.
I left it alone, but I was determined, so when I saw a stack of coupons along with a list from the aforementioned Web site my mom gave to her, I pounced.
“Cool. My mom is using the same Web site I was talking to you about. I wonder how much money we could save.” Strike three.
That did it. I unleashed the pent up fury inside this otherwise gentle creature, and so the gloves were on. Susan begins to explain to me how coupons are just a way to get consumers to buy products that are way marked up to begin with, and that she is able to get these same items for less everyday without coupons.
“Really?” I protest, “Have you even looked at these savings?”
“Yes, I have,” she retorts, “and most of that stuff I would never buy, so I don’t care how much I’m going to save, we don’t eat it.”
“Is that so,” I continue. “What about whipped cream? Don’t we eat whipped cream?”
Undeterred, she responds “Even if I could get it for less, I’d have to drive all the way to the other side of town, which costs time and gas, and that’s after I spend an hour cutting the coupons out of the paper and off of your Web site.”
I try to rationalize. “Isn’t a little bit of your time worth the amount we could save?”
“How much is my time worth?” she asks (what a loaded question, right?). “If it takes me an hour to save $5, or $10, it’s not worth it to me. If it’s such a big deal, why don’t you do the shopping from now on?”
Needless to say, I didn’t have much left to stand on. So here is what I think it comes down to. Susan and I both agree that consumers are able to save money using coupons, just as they are able to save money by shopping for generic brands, or at discount stores. Coupons save money when you are shopping for a specific item, like a razor at the corner drug store. But the number at the end of the receipt is not the total cost of the shopping trip. The time required to “find” the bargains, the distance traveled, and the inconvenience of making special trips are all factors that contribute to the bottom line. It’s true we may spend a little more on certain items because of convenience, but when you’re managing a household of four children and a husband who thinks his wife has a flying carpet, it’s well worth it.