Dispelling the Coupon Stigma & Why Millionaires Use Coupons.
Coupon users report an average of seven percent savings on their grocery bill with coupons. The typical family saves between $5.20 and $9.60 per week using coupons.
There is no need to pay full price on any item. There’s nothing wrong with couponing, especially if you’re trying to save money at checkout. 89% of the overall population report that they use coupons when shopping (for grocery, household, and healthcare items at supermarkets).
Skipping Online Coupons Could Cost You $1,465 Per Year
Did you know that many millionaires use coupons as part of their savings strategies?
Why do so many people resist using coupons? One reason is that some people are too embarrassed to use a coupon. They are afraid it will make them look cheap or people will think they are poor.
Based on statistical profiling, households with an income of $100,000 or more and shoppers with college educations are twice as likely to use coupons than those who live below the average family income and those who did not complete high school. Another known fact is that many millionaires use coupons.
Why Millionaires Use Coupons
In his book The Millionaire Mind, author Thomas J. Stanley writes about the frugal lifestyles that many millionaires choose to live. For example, many millionaires have their shoes resoled, they repurpose their furniture rather than buying new, and they use coupons.
Why would millionaires bother with a dollar-off coupon?
Stanley explains that millionaires look at the bigger picture. It is not about the money that they will save during one shopping trip, but rather the money that can be saved and invested during a lifetime by using coupons.
He uses the example of how a family that spends $200 a week at the grocery store could cut the bill by five percent through couponing, buying in bulk, and using other cost-cutting practices. The money saved could then be invested and eventually grow to more than $500,000.
Pursuing savings so as to reinvest them is the reason many millionaires also do meal planning and prepare shopping lists that they stringently follow based on their available coupons.
Using coupons is a serious way to save money. It is not only about saving a dollar at the grocery store. The couponing mindset goes much further than that by forming habitual behaviors centered around saving on almost everything that is purchased. It’s a lifestyle.