Have you seen "Extreme Couponing" on TLC? If you have, I have no doubt that it piqued your interest. If you haven't, here's a crash course. The topic is people who go to, well, extremes to save money on groceries. They stockpile, Dumpster-dive for circulars and make couponing a full-time job. And they save — often upward of 90 percent on their grocery bill. No, that's not a typo.
One hourlong episode, and you're thinking about how you can get in on this game. Groceries are one of the biggest household expenses for most families, and cutting down that cost creates wiggle room in budgets that is often desperately needed these days. But what if you don't have a double-wide pantry to store your deals, which often involve large quantities. What if Dumpster-diving isn't your forte? Or you don't feel like bumming Sunday papers off the neighbors?
Perhaps you'll consider Not-So-Extreme Couponing. This method will save you money — lots of it — but also save you time and space, says Jeanette Pavini, a household savings expert at Coupons.com.
She put it to the test, using a stopwatch to plan a menu for a family of four and pets based solely on coupons and sale items. It took her 20 minutes to clip coupons, another 20 to plan meals. She saved $114, about 46 percent off her bill. By doing this on a regular basis, Pavini estimates that families could save $1,400 a year on groceries in just 40 minutes a week.
Here's what you need to do:
Make a list/menu plan. What you buy and eat each week should be contingent on your store's current sales and the coupons you have. Stephanie Nelson, the founder of CouponMom.com, calls it being "brand flexible" — which means you might have to buy a different brand of ketchup or a new kind of cracker to chase sales and discounts. This strategy was key to Pavini's experiment, she says.
Take a combined approach. To maximize your savings, you're going to need the Web and your Sunday circulars. To stay organized, Nelson suggests writing the date on the cover of each circular. Then visit a website such as CouponMom.com and find your local store. Most sites will bring up a list of the deals currently offered by that store, as well as any items that have an associated coupon. CouponMom.com also tells you the date that coupon was featured in a circular. You can select the deals you want to narrow down the list, then click print.Stack. This is a way of combining promotions, and it's probably the cornerstone of the "Extreme Couponing" approach: You take an item that is already on sale and add a coupon. It's also how some people actually make a profit couponing, says Nelson. "National grocery chains like Kroger or Safeway will have a promotion, so if you buy 10 participating items, you automatically get $5 off your order. That's 50 cents off each item. Those items are also always on sale, and if you also have a coupon, you're stacking three programs and you may actually make money."
Stores have different policies on this, so ask your store manager if you're confused.
Pay attention. Grocery store sales are cyclical, meaning the same item will generally go on sale at regular intervals — every two weeks, four weeks, six weeks. If you pay attention, you can learn the rhythms and always catch your favorite items at rock-bottom prices, says Nelson.
Think outside the grocery store. Tons of stores offer and accept coupons these days, says Pavini. "It's not just about cereal anymore. You can find coupons for cosmetics, entertainment, toys — this has really expanded." Often these coupons are featured on the same websites as grocery coupons — Coupons.com has sections for home entertainment, office supplies, even photography — and you'll find some in your Sunday circular as well.
Be sure to save your circulars for the following week. And note that many sites and store websites allow you to load coupons directly onto your store loyalty card, saving more time and paper.
Pay it forward. If you're able to get an extra box of cereal that your family won't eat, or you find a promotion that's just too good, consider donating the extra items to a local food bank. They're struggling right now and could use all the help they can get. You can find a bank in your area at feedingamerica.org.
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