On the way to taking my older children to their dog conformation class (i.e. show dog training) our local news, which is simulcast on the radio, featured a local lady who has a couponing blog and is being heralded as being extremely successful at saving money. Our local newspaper also did an article about her, her success at living a frugal life, and her blog. I’m sure this great exposure will generate a lot of traffic to her site; it certainly got me to take a look…even though the radio broadcast already had me doubting.
As is often the case, news reports don’t always get the story right, nor do they convey a lot of useful information. They’re going for quick soundbites and generalizations. So I’m not going to think that what I hear on the radio is the full, complete, and best story. I check things out for myself.
So, here’s the thing: everyone has a different definition of frugal living, and what might be a good deal for someone may still be an extravagance for another. It is not my place to judge or say one person’s way of saving money is wrong or insufficient. Whatever works for you is whatever works for you…and that is how it should be.
What I have trouble with is the claim that taking certain steps, while they may save money, equates to both living frugality and actually spending little money. Those things do not always go together.
One example is with couponing. I do clip coupons and follow some couponing blogs myself, but I find I do not really save that much money with them. Why? Well…
- Most coupons are for brand-name products that, even with the coupon, are more expensive than generics in my area. I just had this experience with Crystal Light; I had the coupon but the generic was cheaper and tastes the same. I would have spent more if I used the coupon.
- If I purchase a newspaper or magazine for coupons, I need to take into account the cost of the publications before claiming coupon savings. If a Sunday paper costs $2, then I have to save at least $2 just to break even. If your area stores do not offer double coupons or only will double coupons of a small amount, there’s no help there. And, if the coupons are for more expensive name brands, then see above.
- What are the coupons for? If it’s a coupon for Starbucks’ coffee, a high-end coffee, then are you truly frugal if you choose to drink a high-end coffee over a less-expensive choice? (Disclaimer: I used a $1 Starbucks’ coupon this week. Yes, I drink Starbucks’, but only when I can’t get to our local coffee roasters and support our superior local business…and then I use a 50% off certificate.)
- What is the financial return on your time investment? If you spend ten hours a week clipping coupons, doing internet searches, planning meals around the sale items, and driving to additional stores to get those sales, then your savings-per-hour should equal or exceed another task you could do that would save more money to your budget. Now, I’m not saying here that couponing/sale shopping is a small return on investment or a waste of time—just that it can be if not done intelligently. By doing a cost analysis and being creative, you could not only solve this possible issue but increase the returns.
This particular news report focused on the actual dollar amount saved in coupons on one shopping trip. It did not mention the actual amount spent.
Just when I was feeling disappointed by the lack of evidence, the reporter did confess there was one catch to couponing…it isn’t a bargain if you buy it and don’t use it. Well, duh!
The news report just focused on couponing. Well, that is only one aspect of frugality and saving money, and, depending on where you live, it may not be very effective. But, to hear this reporter and blogger talk, the fact that she clipped coupons and had a blog made her the most authoritative person in our area on saving money. Period.
I applaud this woman for saving money. I’m not taking issue with that or her choices on how she does so. I just get frustrated when an argument is presented that, if you do X, then Y is the result…but not all the information is presented so that the claim may indeed be inaccurate.
If you are on a mission to live frugally, then investigate everything! Unless you want the newspaper anyway, do calculate its expense when calculating coupon savings. Know what you are really spending and saving…and what you are getting for your money; if you value Starbucks’, then the value-for-price is very different than if you drink coffee and you buy the more expensive Starbucks’ because you have a coupon for it. Evaluate if it is cheaper to buy a ready-made product or make it yourself, and remember to include the time it takes to make it yourself. (Your hourly rate of return in important!) And don’t just take someone else’s word that doing something will save you money. Think for yourself and do what works for you!
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