Friday, 6 February 2015

Does Extreme Couponing Make Sense?

Extreme couponing is a relatively new shopping phenomena.

Effectively, it’s all about trying to save as much money as possible when shopping, but doing so by accumulating as much groceries as possible. What's not to like?

The post-global financial crisis world has certainly brought the concept into the spotlight, and has been brought to our consciousness even more so by the reality TV show, Extreme Couponing.

It's great viewing but does it actually make sense?

The Good about Extreme Couponing:
  • is a good way to take advantage of inefficient pricing and discounting by retailers, allowing you to get good value for money.
  • The whole process focuses the mind – through analysis and investigation couponing can make you more targeted in your purchasing approach and more aware of basic budgeting principles.
The Bad about Extreme Couponing:
  • Extreme couponing can certainly save you money, but it also encourages you to spend on things that you really don’t want or need - purely for the purpose of saving. It can, in other words, create a false economy.
  • In the most extreme cases, you may need to take out extra storage simply to find a home for what you’ve been buying to hoard. If that involves additional cost it creates another false economy.
  • It can be addictive. It’s one thing for extreme couponing to be a harmless, occasional hobby. It’s another thing if it takes over your life. The TV program has shown many examples of individuals that have become obsessive. 
The Conclusion:
Let's just say, extreme couponing isn’t for everyone. You would be in your rights to question what it says about a culture of excessive consumption and hoarding. And you could also ask whether it’s the most efficient way of spending your time.

The reality is if people put as much effort into making additional money or better managing their finances, instead of using extreme couponing to save money, they could actually get ahead. Regardless, is here to stay, even if ‘moderate couponing’ is probably a more sensible approach people.

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