It so easy to overpay when purchasing just about anything in today’s market, regardless of the type or size of the product. Even though shopping online is an effective way to save money, the average prices for most products are still much higher than most consumers would like to pay for them.
One recent survey by RedPlum found that over 90 percent of consumers are willing to search for ways to save money even if they are big time millionaires! Over time, I’ve actually found that there are two key steps that can be taken in order to save a substantial amount of money during each online shopping trip. Here they are:
Search for, Save, and Use Coupons
Consumers were able to able to save over $4 billion during 2011 simply by shopping with either printed or online coupons. Even though this number may seem to be rather impressive, it is actually a fraction of the amount of money that could have been saved during the same year. This is simply because there was over $480 billion in coupons that were distributed, which means that there was less than one percent redeemed, according to eMarketer. Many people seem to stray away from searching and using coupons because of the belief that they will only be able to save a couple of dollars on each purchase by doing so. This is actually a major misconception. In order to maximize savings, you just need to know how to use these coupons wisely!
Do the Math
While it is true that the value of the average coupon is $1.44, there is still an abundance of other promotional specials and coupon codes that can be used to save even more, according to the Nielsen Company. Keep in mind that coupons come in flat rate and percentage amounts as well. You need to be able to do the math when it comes to making your purchases online in order to make sure that you are maximizing your savings.
Use coupons with flat rate amounts, such as $5 and $10 off, for small purchases. In most cases, these types of coupons work best with single, high-priced purchases. For example, using a $10 off coupon a $50 dress can save you much more money than using a 10 percent coupon on the same purchase. On the other hand, you can save much more money using a percentage coupon on a larger, bulk purchase instead of a flat rate amount. For example, you can save more money using a 10 percent coupon on a $200 purchase instead of a $10 off coupon.
The Bottom Line
Shopping for your purchases online will cost much less than shopping for them in traditional stores in most cases. However, you can save even more money by using coupons on those online purchases. Do the basic math when determining which types of coupons to use for each purchase, and maximizing your savings will be much easier than it seems!
How do you use coupons to save money?
Photo Credit: FreeDigitalPhotos.net