Save Money With Coupons and Rebates

Learning how to effectively use coupons and manufacturer's rebates can end up saving you a lot of money on your shopping bills. Some avid coupon cutters have reportedly purchased over $100 of groceries for less than $10! There are several tricks to the practice that should be learned, however. Otherwise, you could be lured into spending more money than you bargained for!

First, only pursue deals for those products that you use and need. Sure, it may be great to save $1.00 on a box of Trix cereal, but unless you're in college, or have kids at home, keep that stuff out of your cart. Best to pass it up. Similarly, if you get a great offer in the mail from a retailer to "Save $10 when you spend $50," think twice. It sure sounds great to get 20% off a purchase, but I'll bet that you probably were not going to head into the store, otherwise. Plus, there is a definite possibility that you'll spend more than $50, especially when you add tax. If you use a charge card and don't pay off the balance every month, you've just allowed the bank to make up the difference on the money you originally "saved."

Second, check the fine print to see if there is a "catch." Perhaps the offer is only open to "members" of the store (i.e., Costco). A membership will cost you annual fees. Unless you will regularly shop at the membership outlet, it may not be worth signing up just for a special offer. Sometimes offers can only be redeemed if you use your store credit card to make the purchase. Again, unless you are dedicated to paying off your bills every month, this is one offer that should be refused. You'll likely pay much more in interest than you saved at the cash register.

Third, manufacturer's rebates can be really tricky. You may want to consult a lawyer before turning one in, just to make sure that you've done it correctly. But in all seriousness, your request can and will be refused unless: (1) turned in on time; (2) mailed to the proper address; (3) with a sales receipt attached; and (4) with other information confirming proof of purchase. Review all the information included with your product and the rebate form several times to make sure that you've covered everything. Make a copy for yourself before dropping it in the mail. Remember that they can take a long time to process. It could be months before you see your $2.00 from Energizer.

Don't let the tedium of cutting and organizing stop you from the practice! There is real money to be saved. One estimate is that only 2 percent of the coupons printed in the Sunday papers are used by consumers. The other 98% that are thrown away would amount to over $300 billion (yes, billion with a "b") in potential savings each year. The shoppers that did use the offers managed to save themselves over $3 billion (with a "b" again) last year.

Some people use organizers, and others try websites like www.CouponMom.com instead. I just toss the crumpled paper bits in my purse and hope that I remember to get all the things on my list. The payoff truly comes at the cash register. If you've done your work and spent just a small amount of time planning meals and checking on personal needs (toothpaste, toilet paper, etc.) so as to maximize use of your grocery coupons, the amount of money you can save can add up quickly. I'm a sucker for bargains and I love to get more for less. Who doesn't? At times, the manufacturers practically give the stuff away!

As a final note, be careful to check expiration dates and "double coupon" rules. Some stores will permit you to add manufacturer's offers on top of their in-store deals. Others will not. Save yourself the embarrassment of an argument with a surly cashier by double-checking this information before you shop.

Armed with these tips and a few clippings from the Sunday paper, you should be able to watch the savings add up over time. Try keeping a running tally for a month or two of the money you save at the grocery store. Then, pull a restaurant coupon and go out and celebrate!