On May 21st I posted that I had delved into the world of all things "coupons". I decided to try it for 3 months to see if the time I invested was worth the money savings and to see if I would notice a difference in our monthly budget.
My results are mixed, yet positive. Here are the results of my coupon experiment:
First, I had to establish a "system". I found that to be effective and quick, I have to be organized. This is a picture of my "system".
-- The blue folder is my money folder that I bought when we started doing the Dave Ramsey cash budget about 2 years ago. There were empty spaces that I filled with coupons sorted into categories. Food and Household categories and then I used a couple of the spaces for coupons I know I want to use at specific stores for sales that week. I have a separate Walgreens, Walmart, and Target sections.
Truthfully, I have outgrown this system (I have too many coupons!) and it takes me an embarrassingly long time to find some of them sometimes when I'm standing in the aisles at the store. There are better ways, and I am investigating :)
-- On the left are white papers. Those are copies of rebates I mailed in. I got "burned" on one and did not receive my rebate. Since then, I've made copies, kept them until I got the check, and then tossed the copies.
-- On the right are my coupons. They are inserts that come from the Sunday papers and copies of the All You magazines I bought for the coupons. I cut what I need from the inserts and leave them whole in case other deals come up later. I usually get 3 copies of the inserts each week. (Here you get a free paper when you fill up with gas on Sundays.)
Second, I haven't really cut money from our budget. Or have I? This is a tricky one. I have spent our allotted monthly budget each month of this trial. I kept waiting for the $50 savings or even $100 (my goal) but it never happened.
What did happen however, is my "stockpile". This is a term and a strategy - if you will - that I learned from my online, coupon-y, blogging friends. Stock up on deals when they come around so you don't have to pay full price later.
Against my better judgement, I took two pictures of my basement closet (the site of most of my stockpiling) and did an inventory of what I have collected.
8 bottles of hand soap3 bottles of shower cleaner refills
7 packages of 'pads'
8 packages of Clean Team wipes
There's other stuff (Kleenex and stuff) but I didn't get those as part of a deal.
18 tubes of toothpaste16 bottles of shaving cream
10 bottles of shampoo (Pantene for me, Pert Plus for Joel)
5 toothbrushes
18 Buddies bars of soap
8 Lady Speed Stick deodorant
1 Ladies razor and 12 replacement blades
7 men's razors
10 Glade plug-ins air fresheners
So when I say I haven't saved money, I really haven't. On the other hand, I don't plan to spend money on toothpaste, soap, razors, shaving cream, or wipes until 2010. Eventually, these savings should catch up with me!
What have I learned?
-- I have saved close to $1000 using coupons. (I kept a spreadsheet for my 3-month trial).
-- I save an average of 60% on everything I buy. Some things are full price, some are free. It averages out to about 60%. (again, according to my spreadsheet)
-- I have a love/hate relationship with "couponing". I love the deal part -- getting something for close to nothing. I hate the conflict part. Rude cashiers, having to call the manager, and one time having to leave HyVee without my groceries because they wouldn't accept my internet coupons. (Even good-natured, Joel was frustrated that night!)
-- My outlook has changed. Cereal shouldn't be more than $1 per box. You should not pay for air-fresheners and most cleaning supplies. Fresh fruits, vegetables, meats, baby formula, and toilet paper -- no deals that I've found, you just have to buy them!
-- I have tried new products. In fact, I've tried more in the last 3 months than I can count. Some have become my favorites, some have been terrible. If they turn out to be terrible, it usually doesn't matter because it was free or close to it.
-- I ventured into Walgreens. Since we do not have a CVS in central Iowa, I am "forced" to shop at Walgreens. It is a confusing, unreliable, system of a store (especially in Ames!) but I have gotten many free or deeply discounted things there. Usually I make one trip per week and I plan for this trip like I would study for a college exam.
-- "Stockpiling" is dangerous. Dangerous for me, at least. Growing up the way I did, I get too much comfort from having a large bank account balance. Add in a "stockpile" of things and I will be tempted to trust in horses, chariots, toothpaste, and deodorant instead of in God who is my Provider, my Protector, and my real Peace.
Finally, I have decided that I will keep this up. It is somewhat time consuming - I have conceded that. But having come this far and seen this much in savings, it would be nearly impossible to go back to paying full price for everything. I will take breaks (especially in February and March!) and I will buy things we need - even if it means paying full price.
This has been an interesting 3 months for my family and I think we are better for it. I feel better equipped now to go down to one income and to have two kids in diapers. If you knew me and knew my "money habits" five years ago, you would be shocked at how things have changed!
If you're interested in any of this and you have questions, send me an email. I will be glad to try to help. :-)
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