Why cutting coupons is a bad idea

Many articles are written on how to save money by cutting coupons. I am not here to tell you that the people that do this are not saving on their groceries more than they otherwise would, but I am here to tell you that they are NOT necessarily saving money. First of all, coupons are often for products one would not otherwise buy. So, if one buys a can of creamed spinach at a discount and never eats it, is that really a bargain?

Also, many of the product coupons I see are for plain old JUNK food. One may be able to eat cheaper with these products, but are they good for you? I can eat off the $1 menu at my local junk food restaurant too to save money, but I don’t. In addition, many coupons are for products that are overpriced to begin with. If I buy something that is twice as much as the store brand at half off, is that really a bargain? Most advice I have seen also says to go to stores with double or triple coupons. I don’t know where they live, but where I live those days are past. No store I know of offers double coupons any more, and the last one I remember that did had some of the highest prices in town. So, double off an overpriced product, what good is that?

Do the people who cut coupons all day really believe the manufacturers and stores are stupid, and are simply giving away their products? There are huge marketing teams behind most of these offers, and they are NOT stupid. They will get their money one way or another when one uses their coupons. This brings me to my most important point.

What is your time worth? The people that I know that cut coupons spend hours and hours each week scouring the newspapers and circulars, looking up and printing them online, and making lists, folders, and shopping plans just so they can save a few bucks on groceries. It is like they are gearing up for war with all these preparations, and then, they have to go to three or four stores each week to be able to redeem all their coupons. My time is worth more than that.

I can work an extra hour overtime each week at my easy job, get the groceries I actually want, and never have to worry about cutting a coupon. Now, if you don’t have a job at all, I understand, I have been there. In that case, still, your time may be more valuable. For every hour you could have spent cutting coupons, you could spend the same time filling out job applications or networking and probably be far ahead at the end of the day. Now, if you are totally broke, I understand. I have had to dig through the couch cushions when I was in college to look for beer money. But STILL, your time may be more valuable. There are many food banks and relief agencies that offer free food to those most in need. Finding these places and getting informed about the benefits available may be a more wise use of time.

Now don’t get me wrong, I am never going to tell you to look a gift horse in the mouth. I just redeemed some coupons I got in the mail for free dinners at three nice restaurants (I guess I got on a list somehow). If you see a coupon in your daily reading for a product you normally use or really WANT to try, rip that sucker out and use it. I probably do this once or twice a month.

But, for the obsessive coupon cutters, I just want you to ask yourselves, what is your time worth? Are you really getting a good deal by spending hours and hours a week cutting coupons so that you can save some money on overpriced products you would otherwise never buy? If so, great, have at it, but I would rather use my time to enjoy life a little more, even if it means spending $20 extra on food a week.