Gone are the days of relying solely on Sunday circulars for coupons. In today’s digital age, consumers have a plethora of options to find discounts, such as online codes, browser extensions, and money-saving apps. According to a recent study by SimplyCodes, Friday stands out as the best day for consumers to save money while shopping online. The study analyzed coupon release patterns in marketing emails from 30,000 merchants between March and July, revealing that roughly 52% of coupon codes are released between Wednesday and Friday. This spike in coupon activity can be attributed to payday approaching, leading to an increase in discounts, especially for women’s clothing, skin care, and alcohol.
While the allure of a good deal is undeniable, it can sometimes lead to excessive buying habits and high-interest credit card debt. The concept of “spaving,” or spending more to save more, is a common pitfall that consumers fall into. Before making a purchase, it is crucial to evaluate whether a deal is truly worth it. Consumer analyst Julie Ramhold suggests assessing the value of using a coupon code to reduce shipping costs versus adding more items to reach a free shipping threshold. In some cases, focusing on overall savings rather than fixating on free shipping may be more beneficial.
To maximize savings, consider signing up for store e-newsletters, mobile alerts, and following brands on social media to receive coupons for in-store or online savings. Price-tracking browser extensions like CamelCamelCamel or Keepa can help monitor price changes and alert you to price drops. Additionally, applying a coupon on top of an already discounted item can lead to significant savings. Some stores even allow the use of multiple coupons on the same order, offering discounts on total purchases, free shipping, or free gifts with purchase.
While coupons can be a valuable tool for saving money, it is essential to avoid the temptation to overspend. Consumer savings expert Andrea Woroch advises deleting shopping apps on your phone that prompt unnecessary purchases and unsubscribing from store newsletters that may lead to impulsive buying. Instead, she recommends looking for coupons only when needed through browser plug-ins like SideKick, which scans for applicable codes without inundating you with constant alerts.
The art of couponing involves strategic planning, smart shopping decisions, and vigilant budgeting. By capitalizing on the best days to find deals, avoiding the trap of spaving, maximizing savings through multiple coupons, and practicing restraint to prevent overspending, consumers can unlock the full potential of coupons while safeguarding their financial well-being. Remember, the key to successful couponing lies in moderation, mindfulness, and a keen eye for genuine savings opportunities.
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