Coupons

Coupons are not created equal.   So you really need to pay attention how much of a discount that you’re actually receiving.

Examples of good coupon offers include

• Free (if none or very little strings are attached).
• Provides a discount of 15% or greater.
• Buy one get one free.
• A coupon that will allow you to combine it with other coupons and offers.
• A coupon of a product or service that you were planning on obtaining anyway.

Less desirable coupon offers will require you to spend a lot of money while yielding you a comparatively small discount.

So, do the match on how much money that you are actually saving.

Cashing in on coupons…

Many people don’t realize how much money they can save by using coupons from the newspaper, web, direct mail, etc. Here are some of the ideas that we tried out recently.

• Ask yourself if the product associated with the coupon is something that you really need.  Sifting out the coupons that don’t make sense for you and your family is a good way to control spending.
• Start a coupon trading club with your friends and co-workers.  This is a win win strategy that may allow you to double dip on the savings.
• Sort your coupons by:
  • Expiration date (earliest to latest expiration date)
  • By major categories (e.g. food, dinning, clothing, crafts, entertainment, travel)
• Check store ads and clearance racks to see if you can combine a sale with your coupons.
• Try keeping the coupons with you whenever you leave the house.   So, if  for example, you or your family decides to dine out, you can consider the coupon savings opportunities before deciding where to dine.
• If the store is out of stock of the item(s) that match up with your coupons, ask the store manager if you can get a rain check on the coupon.

Cheap and smart ways to eat out for less…

These days if you work at it you can actually eat for substantially less that you thought.  We have identified several ideas to help you get started.

Coupons can be a great way to save on food at restaurants.  However, it is important that know which ones are really a good deal.  Here are some tips.

• Do the math first – Calculate your saving ahead of time.  For example, if the coupon is a buy one sandwich get one free deal when you purchase one fountain drink, make sure to check the price of the required fountain drink.  Add the regular price of the sandwich and the fountain drink price.  Next, subtract the price of the regular price of two sandwiches and there is your saving.  Some establishments have been cleverly raising prices and marketing coupons.
• The fine print – Make sure to check the expiration date and other requirements to redeem the coupon.
• Saving $ off of what? – Some establishments will jack up their prices and then offer awesome discounts off inflated prices.

Money saving strategies for dinning out for less

• Fast Food
  • Stick to the real deal -Lately they have been offering great deals (e.g. value meals).  Remember, that the restaurants are probably barely breaking even on their cheap deals.  So, they hope to make money on the higher priced extras like fries, soda and deserts. Lately McDonalds figured out that they can make a decent profit by selling fancy coffees similar to what the expensive coffee chains offer, but for less.
  • Home base for saving – Save big by skipping the fries and snagging the soda at home.
  • Double up on that 99 cent burger, sandwich, baked potatoe (wendy), salad, etc and make a meal out that.  Skip the fries and soda and your eating cheap.

• Sit down restaurants
  • Predictable prices – Stick with restaurants that have standard pricing any time of the day (as opposed to place that jack up their prices for dinner).  One example is Chili’s bar and grill.
  • Two meals for the price of one - Many restaurant serve larger portions that people could (or should) eat in one sitting.  Instead, eat half and take the doggie bag home or to work and enjoy another meal.
  • Adults eating childish - Some people suggest that you order off the lower priced kids menu to save money.  I might try that on a to go order, but I don’t think I would have the guts to order that kind of meal when dinning in the restaurant.
  • Being fair -  If you choose to eat inside a sit down restaurant, don’t skip the tip.  Waiters work hard and they should be treated fairly.  If you’re not into tipping, order take out instead.

• Take out at the buffet
  • Several restaurants will allow you to do take out from the buffet.
  • Typically, the rule is that you can take out what you can fit in their take out container (typically a decent size).
  • The price for this may not seem cheap, but don’t be surprised if you get at least two meals out that take out container if you packed it up to capacity
  • This allows you save on those expensive beverages by getting them at home or out the reasonably priced vending machine at the office.
  • Also, since a waiter is not involved, there is no need to tip.