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Discover the Benefits and Drawbacks of Couponing with O1ne Mortgage

Are you curious about couponing and how it can help you save money? In this article, we will explore the ins and outs of couponing, its advantages and disadvantages, and where you can find the best coupons. For any mortgage-related needs, feel free to call O1ne Mortgage at 213-732-3074.

What Is Couponing and How Does It Work?

Couponing is a popular strategy to save on groceries, home products, and personal items by avoiding full price. By using paper coupons, online promo codes, or store discount programs, you can reduce your shopping bill. However, the actual savings can vary depending on the time and effort you invest in collecting coupons.

Many people gather coupons from various sources, including store and manufacturer coupons in paper circulars, rebate sites, and online apps. On average, families save about $5 to $10 per week with coupons, but some studies suggest annual savings of over $1,400. The amount you save depends on the time you dedicate to couponing, with average couponers saving around $7 per week by spending about 10 minutes on it.

Pros and Cons of Couponing

While couponing can be beneficial for many families, it also has its downsides. Let’s take a closer look at the pros and cons:

Pros of Couponing

• Price savings: The primary benefit of using coupons is saving money on your purchases. By finding coupons for items you already plan to buy, you can achieve significant savings. Combining manufacturer and store coupons can further increase your savings.
• Options to buy in bulk: Coupons can make it affordable to stock up on items that will last.
• Intentional shopping: Couponing encourages you to shop with a plan, reducing the likelihood of impulse purchases and helping you stick to your budget.
• Access to new products: Manufacturers often release coupons for new products, giving you early access at lower prices.
• Ability to donate: Some couponers use their savings to donate items to those in need, such as food banks or shelters.

Cons of Couponing

• Not always the best deal: Discounted products may not always be the best deal, as brand-name items with coupons can still be more expensive than store brands.
• Storage requirements: Serious couponing can lead to stockpiling, which requires space and can result in waste.
• Reselling challenges: Reselling items purchased with coupons can be challenging due to restrictions and the need to report income to the IRS.
• Limited dietary options: Coupons for food are often available for highly processed items, which may not align with specific dietary needs.

5 Places to Find Coupons

If you’re interested in couponing, familiarize yourself with various methods to find the best deals:

• Paper coupons: Found in print newspapers or store flyers.
• Store apps: Many stores offer coupons and discounts through their apps.
• Rewards programs: Digital barcodes or physical rewards cards provide discounts at checkout.
• Online promo codes: Promo codes offer discounts, free shipping, or buy-one-get-one deals when shopping online.
• Rebate websites: These sites find the best coupons for your purchases and may offer cash back or reward points.

While tracking down coupons can be a fun hobby, remember that the time spent may not always be proportionate to the savings. Some may find that picking up gig work or a part-time job could earn more than the savings from hours of couponing.

The Bottom Line

Coupons for items you already plan to buy are like free money, so take advantage of them when available. Discounts on groceries and other shopping can help extend your budget. For any mortgage-related needs, call O1ne Mortgage at 213-732-3074. We’re here to help you with all your mortgage needs.

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