Saving Money With Online Coupons

On Monday I compared “big wins” to “daily frugality tips,” and discussed the benefits of both options. Today I wanted to discuss something that would fall pretty much right in the middle- Using coupons to save money. More specifically an online coupon sharing resource like Coupon Chief.

The reason that using an online coupon site falls in the middle is because you can save a few dollars on shipping on your next book order or you can save a couple of hundred dollars on your next High Definition TV purchase.

How helpful are online coupons?

The thing I like about Coupon Chief is that it is very transparent and easy to apply. A few readers pointed me to other coupon sharing sites but I disliked the fact that I had to siphon through many different links to finally get the coupon code. The coupon for each item is clearly displayed and there is even a direct link to where you can go to make the purchase. The ease of navigation was also a contributing factor to me staying on the site.

Of course just like any other money saving resource, there are tiny savings and then there are exorbitant savings. You must keep in mind that not every day you will find an amazing offer. For example, when planning a vacation it takes me months until I find the right place at the right price.

Recommendation for saving money

If you are planning to purchase anything online or planning to make any large purchase in general, then you really should check out Coupon Chief before hand. Even if you save a few dollars on free shipping or a 5% discount on a DVD, it’s still better than nothing. I personally am a strong proponent of paying for value. The common misconception is that you can not save money when paying for value. I find that online coupon sharing sites are making it easier for us to save money on all of our purchases (especially textbooks).

A word of caution about Coupon Chief

One thing that I need to stress is that it is not a deal if you do not need it. Meaning that it can be very tempting to buy that second laptop for 30% off but do you really need it? Deals are great if you are already looking to make a purchase. If you buy stuff just because it seems like a “great deal” then you definitely need to avoid coupon sites until you get your spending under control.

At the end of the day, coupon sharing sites like Coupon Chief are perfect for those working on the saving money equation of personal finance. If you are extremely focused on the earning more aspect of personal finance then you may want to focus your energy on other activities.