How do you know the savings are worth it

mhebner · 06-17-2008, 04:26:56 AM

As I am using coupons and gaining access to good deals, how do I know that it is really worth it? I love to cut coupons and save a ton of money when I an shopping. I bargain shop and always look for sales, especially on food. Sometimes the time that has to be put into all this is not worth it, or is it.

hotcouponmama · 06-17-2008, 04:35:00 AM

First off, welcome to the community. I'm glad you found us!

Here's my thought on the time thing. Take into account all you save in the course of a month. Figure out how many hours you use putting into those savings.

I look at mine annually. The retail value of my savings is about $11000 a year. I put in about 10 hours a week on average. That makes the savings $21 an hour. Now, while I can make that money elsewhere, if I can save that in addition to what I earn at work, then it's a bonus for the time in because:

1. That's after tax money, so when you factor in taxes, it's really more like earning $29 an hour.
2. It's something pleasurable.
3. It's not like a job - I can do it whenever I want, and I can skip a week here or there.
4. I can take the money I've saved and apply it to other things in my life.

So, is it worth it? In my opinion yes. Compared to people spending 15 minutes in line to save .03c per gallon of gas than filling up across the street, but those same people won't cut a coupon....I think I am better off.

And, once you have a good supply of things, there's time you can go for long periods of time without having to shop much at all.

Hope that gives you a little more perspective.

And again, welcome to hotcouponworld!

pdavin17 · 06-18-2008, 12:51:00 AM

At one point somewhere in this site I found this incredible guide that I would like to print and keep handy. Someone had taken the time to breakdown: 2/$5.00 deals, 3/$11.00 etc. I can't remember where I saw it, but would like to find it again.

Thanks.

MrsPinecone · 06-18-2008, 12:54:58 AM

Every penny that goes into my pocket instead of the store's makes it worth it.

My savings are similar to HCMs.

mama22qts · 06-18-2008, 01:03:37 AM

As you get further into couponing, it takes less time to get it all together. I am on the site a lot, but that's because I am a mod and because some of these ladies and I have known each other for years and are like family.

The actual deal-hunting time for me has been cut drastically, and I can tell you that the savings of 70% of more on every bill is definitely worth it. The time I spend on HCW planning on my deals is probably an hour a week now, and the time gathering coupons, probably 3 hours a week. That counts trades, Ebay, clipping sites, etc. Then filing -- probably 15 minutes. The actual shopping time I don't count because I'd have to do that anyway.

So last month I spent $400 on groceries. It was a big stockpiling month for me. Figuring on 70% savings (and that's really conservative) that means I saved $280. $240/16 = $17.50/hour, doing something I love.

Definitely worth it for me.

fperkins · 06-18-2008, 02:37:17 AM

It is absolutely worth it for my family. I do my cutting, sorting, filing while watching tv or movies. I would do that anyway, so why not work to save money. I don't consider it time taken away from anything. I spend time here because I love this site. When I wasn't here, I was spending time on other interesting sites on the net, so that time would be spent on the computer anyway...it is entertainment.

I work outside my home and spend 11 hours a day at work and commuting, and still manage to save a TON of money and have quite a nice stockpile. We were able to provide diapers/wipes/bath products and formula for our 2 grandbabies until our kids moved to other cities and keep our daughter at college in all the HBA and food she can carry out of here. She tells her friends she never has to buy that stuff. LOL!

Oh yeah, and my couponing helped us to get totally out of debt and build up a hefty retirement fund and nice savings accounts.

It is SO worth it!

doulas3babes · 06-18-2008, 07:50:29 AM

I've been an avid cpn clipper, bargain shopper, pricematcher for as long as I can remember. My momm and grandma got me started when I was only 8 yrs old or so.

For me, this is a way of life. B/c of how I shop, we've paid off over $24,000 in debt in 2 1/2 yrs. I'm able to donate and give back to my community. I can 'over-give' at Christmas time w/out breaking our bank and be able to enjoy the smiling faces of our loved ones w/the gifts we give. The fruits of our labor are starting to pay off and we are starting to see just how much the savings add up. Last year alone I saved/earned over $33,000 in cpns, gift cards, rebates, etc. I wouldn't have it any other way!!!

I could win the lottery tomorrow, I wouldn't change a thing.

lovelace · 06-18-2008, 07:57:48 AM

this is my hobby,i do it while they are sleep or during want they want to do,we have q shopping trips and we have fun together,and i am teaching my kids how to save and shop with q and find good deals.tonite i went to koger and my total was 100.00 dollars i pay 8.19,it took us i hour at the store and we had fun.

: BigHand:

angelaira · 06-18-2008, 08:10:10 AM

There is a really good book called "Your Money or Your Life", I highly recommend it, I read it years ago, and it changed my life forever.
In the book there are 6 steps to financial independence, they include things like:
track every dollar that comes into and goes out of your life
find out what you have to show for all those dollars that have come and gone
use things until they break
get things as cheap as possible
pay off all debt little by little as your income starts to exceed your outgo
when all debt is paid off start saving the amount by which your income exceeds your outgo
retire early, knowing with confidence what your expenses are and whether or not you can meet them on your retirement income (from investments, not a company sponsored retirement program)
use the rest of your life doing something that you love and believe in instead of working for money

I coupon so heavily because I read that book and couponing makes it much easier to achieve the goals that are listed there without needing to cut back so drastically, it makes cutting back actually feel like luxury...
unfortunately for me, this guide didn't include information on what to do when your life partner takes off for another woman taking everything you worked for with him, lol!
But, I have a plan for how to rebuild, I have been able to sustain myself and my son without working (my son is adhd and bi-polar so he is a full time job all on his own) and without any help from my ex (he owes $18000 in child support and alimony as of this month) on my military disability pension.
Couponing does many things for you, it changes the way you spend, it makes you notice what you are spending, on what, and why, and it prepares you for disaster by filling your cupboards with food and supplies that can be used in an emergency. Is it worth it? It allowed me to take care of my son in his time of need, it allowed me to survive this divorce and not be affected by all of the bad choices my ex made, and I guess you could say it saved, and continues to save, our life!
Is it worth it? It all depends on how you look at it, but I think it is!

Laurie4706 · 06-29-2008, 04:02:38 AM

I am new at this...please explain how you can get out of debt by couponing...do you take the savings from the grocery bill and apply it to your debt???? I am confused. I also am finding it difficut to "find" those great coupons/deals that everyone is talking about...please help me - I am a single mom supporting 3 kids, one son-in-law (was in construction) and a new grandson (due in August) and my elderly mother. I am trying to get diapers, but can't find anything more than $1 off. So it is still sooooo expensive.
Thanks
Laurie