Let Your Coupons Expire And Save Money!

Coupon Binder

YOU DON’T NEED TO USE EVERY COUPON THAT YOU GET YOUR HANDS ON

 

I know it sounds strange that I’m saying to let your coupons expire and save money but the reality is for some people, they can’t let them expire. The coupon binder seems to be a fixture in most grocery carts (British: shopping trolley) these days and if you don’t believe me have a gander inside other people’s carts next time you shop.

I’m not saying it’s a negative, but we stopped bringing our binder because we would overspend on the odd occasion while shopping. Now we leave the coupon binder at home or in the car and only take out the coupons we need for that shop. There’s not many times we have the heart pumping “start the car” moments anymore and we’re happy with that.

 

What We’ve Learned 

 

If you follow Canadian Budget Binder you know that I started The Grocery Game Challenge  (GGC) back in early 2012 with much success over the past year. The birth of the GGC was because my wife and I were spending far too much money on groceries for 2 people.

We thought we were doing better than our friends saving money using coupons and for the most part we were saving lots of money. I don’t remember the exact number off-hand but it was over $5000 in coupons that we used in one year. That was money we didn’t have to spend out-of-pocket to pay for items we “thought we needed”.

That’s right we eventually realized that we didn’t need all the products we were buying. We were so engrossed in the entire game of using coupons that we forgot about the main goal and that was the budget. We also lost sight of our path towards debt freedom which consisted of becoming mortgage free and potentially an early retirement.

Clearly you can see how wrapped up some people can get with coupons by watching that Extreme Couponing television program in the USA. Although we can’t go to the extremes like our North American neighbours we can still spend more than we anticipated even if we are saving money using coupons. A couple of weeks ago I read a blog post from my friend Mandy the Money Master Mom Blogger about “why I hate coupons”.

It’s not as bad as it sounds really but what she did was explain her reasoning about why she hated coupons. It made sense to me because we’ve experienced the turbulence of how perceived savings can halt the progress of our overall goals. Mandy brought up a good point in her post,“Most coupons do not help you value your spending. Instead they lure you into a deal to buy a product you weren’t going to buy before you had the coupon”. 

She cites the Hamburger Helper with the Save $3.00 on beef coupon but the catch was you needed to buy another box of Hamburger Helper to get the coupon savings. She explains it well with a mathematical breakdown of the expenses. Don’t think the company doesn’t know what they are doing, they are winning in most cases.

We’ve been stung many times but are smarter now with our money, or at least we are trying to make positive changes. What’s in these boxes and what people spend on them cost peanuts to make homemade and they are making a mint off of consumers. That’s the price consumers pay for convenience foods without realizing it.

 

Buying Too Much 

 

I’m not kidding when I say that we have roughly 10 boxes of cereal on the shelf that will end up in the garbage because we bought too many boxes. We had a coupon and we did get a great deal but simply could not eat it fast enough.

By the time we noticed it was too late to donate to the food-bank. Sure it sounds great that we would donate and we have but we want it to be because we went out and stocked up on a few items and brought them directly to the food-bank, not because they were out of date.

If you have to go through your pantry to find items that are near expiry to donate that means you are buying too much food. This is exactly why I started the grocery game to help us and others who do use coupons and sift through the flyer inserts for deals to stick to a grocery budget. We hardly if ever stock up on food items unless it’s something we know we will use such as dry beans, tomato paste, tuna, milk, pasta etc.

Related: How to stock your pantry on a budget

Mandy takes it one step further and blogs about “why I love coupons”  and how they work for her family. You can clearly read that the only coupons she values are the ones that actually save money for her family and she can combine with in-store sales.

If you’re getting to the stage where you’ve actually started throwing stuff in the garbage, you bought too much. How much did those coupons really save you? It’s better to stock up on items that have no expiry or a long expiry such as cleaning products, toilet roll, shampoo etc.

 

Watching Coupons Expire

 

If you follow my Facebook page you know that I enjoy communicating with the fans and listening to what they have to say. It was just the other night when Katrina Bearinger said something that had me thinking. She said, “I’m also getting better at watching coupons expire” and that was money to my ears. As a society we are lured in by coupons, sale signs, discounts, buy one get one free perks and for what reason? Because they know it works!

The marketing companies know exactly how to target products they want you to buy. They know we thrive on these deals and it psychologically gets the juices flowing in our brains. All we have to do is look at all the boxing day line ups every year after Christmas. The general public enjoys the thrill of saving money, but do you really need it?

 

We’ve Changed Our Couponing Style

 

In order for us to stop spending so much money even if we are using coupons is to plan and stick to the grocery budget. We don’t need to get every coupon that is available to us and use them. That is not what coupons are all about and many of us miss the mark and rush out before a coupon expires just to buy something. We tell ourselves instead of $8.00 it will cost $3.00 and we  “might need it” down the road. That’s what we used to tell ourselves as well but have since gotten smart about using coupons to our advantage.

 

Using Your Coupon Savings

 

If you take the money you save from using coupons and put it towards paying down debt that makes even more sense. We track all the coupons we used in our budget spreadsheet so we know exactly how much money we have saved. Spending your entire grocery budget every single month just because you think you have to is not necessary, use the savings or extra money in your grocery budget to pay down debts if you have any.

If you notice that you don’t really need to spend $400 a month on groceries then lower you grocery budget and put that extra money towards another category in your budget. You could also put the savings away for another day or for a purchase you wouldn’t normally make, such as a weekend away. That’s true savings after the fact.

 

It’s Only A Bargain If You Need It

 

My friend Amanda at T-shirts and Twine says it best “It’s only a bargain if you need it” and goes on to give us some tips. The best one I thought is if you find a bargain that is not on your grocery list to switch it out for something else. She also says to avoid the clearance aisle as much as possible but I don’t know if we could do that.

We do find some great deals especially those pink sticker deals although I understand her reasoning. If we didn’t have clearance items on our list we obviously didn’t need them in the first place. That’s true for some items but for others that we may be able to use we could classify them as a “need” in our grocery budget.

The key points to remember here is we need to

  • Either make sure we don’t go over budget for the month.

or

  • Put something back on the shelf to stick to the grocery list.

Carrying cash is a great idea if that helps to control overspending. If you only have $40 cash in your pocket than that’s all you have to spend and there’s nothing you can do about. It’s always nice to read what others do to save money.

What the Fans Say (I made slight edits as needed)

Katrina B.

I’m finding that I take inventory of everything in my pantry then plan my meals based on what’s already here. I sometimes ask myself why I bought something when I’m putting away the groceries in hopes of trying to stop both food and money waste. I’m also getting better at watching coupons expire! I used to find myself using up a coupon that was soon to expire because what couponer wants to pass up a good deal?

I would find myself buying things that I had nothing to combine with for a meal and would end up throwing away or donating to the food-bank. I love to help the food-bank any way I can but this wasn’t making sense.  My goal is to save money and I’m spending money to store something in my house just to later pass on. Before any grocery shop I take a look at what I have and plan my meals before I pull out my coupon binder. I notice now that I am not needing as many coupons as I used to. Using what I have on-hand in the kitchen does help me save money. I do value my laundry soap and toilet paper coupons so I stock up when I have a good amount of coupons and find a great sale.

Shantique R.

I don’t cut out anything I won’t use. For example,  I won’t clip dog food coupons even if I can get it free with a match up because I don’t have a dog. I don’t want my house filled with clutter from “bargains”. I do know some people who WOULD do that though and donate the food. We used to have a box at work where everyone could drop off what they didn’t need and take what they did need. I received a LOT of diaper and wipes coupons when I needed them.

Carrie M.

I find it very hard to walk away from a sale or coupon. It took a lot of work to perfect the skill. I will instead leave the coupon on the shelf for someone who was going to buy a product because they needed it. I still have a hard time with free!

Cathleen R.

I’m on a local coupon train so what I don’t use I know someone else will and I don’t take coupons unless I know I will use them.

Mary C

I am not a big couponer but I am certainly willing to take a coupon that I will actually use. I tend to tailor my coupons to my shop, not the other way around.

Although using coupons such as Canada online coupons, in-store coupons and coupon apps are an excellent way to lower the overall expenses in our grocery budget we have learned to limit what we purchase to what’s on our list or ensuring that we stick to our monthly budget. There’s no shame in letting a coupon expire, heck we throw lots of coupons in the bin each month and that’s OK.

Related: Where to find Canadian Coupons

Get to know your limits, take inventory, plan your meals and shops with coupons you need rather than what you don’t need. I’m betting that if you watch some of your coupons expire for a few months you will see that you might just save yourself a few dollars!

Question: Do you let coupons expire or have you changed the way you use coupons over the years?

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Mr. CBB
I’m from the UK and now a recent permanent resident in Canada. I bought my first house at the age of 21 after University then my second at the age of 24. I’ve always been fascinated with personal finance, savings, learning to make money and watch it grow while combating debts along the way. Canadian Budget Binder is a place where I get to share my experiences with personal finance and learn about yours along the way. I hope you stick around and check me out on Twitter, Facebook and Pinterest where I am active on all social media sites. Cheers, Mr.CBB
Mr. CBB
Mr. CBB

Comments

  1. I have worked hard over the years to see coupons expire. I don’t use them as much as I used to, but when I was using coupons in full force, I would let the ones expire that I knew I really didn’t need the product. There is no point on saving some money on a product that you really wouldn’t purchase in the first place. Well put Mr. CBB!

    • Well that’s just it and like I mentioned when we buy too much of something it ends in the garbage just like our cereal will. It’s being smart with coupon use that’s going to save us money. There are great deals to be had using them, that’s no secret.

  2. I have to admit, Mr. CBB, this headline caught me off guard knowing who wrote it. 😉 We let ours expire all the time. We do coupon, but only on things we would be buying anyway and mainly on household items. If they expire it’s because we did not need that item and just avoid spending the money we did not need to spend anyway.

    • It’s just a reminder that we have to pick and choose wisely where we spend our money and that we don’t have to use all of our grocery money each week. I know some people that just can’t stop using coupons and panic if they are about to expire. It shouldn’t be that way.

  3. Good post Mr. CBB. For me, it’s about knowing what we have on hand before I spend a penny outside the house. Keeping a freezer and pantry inventory and updating it on an ongoing basis will tell you not only what you need but also what you use on a regular basis. You can then focus on acquiring and using coupons for those specific items. If you also keep an eye on the sale cycles at the stores in which you regularly shop, you’ll soon get the knack of combining those coupons and sales to get the best possible price on items you know you’re going to use.

    • That’s true Beth and the post is just a reminder that we don’t have to spend all the money in the grocery budget every week and that it’s ok to let coupons expire. Great tips on the sale cycles!

  4. Christine Weadick says:

    I let them expire all the time but I use what I can. If I’m going shopping I will make my list, by looking through the pantry, fridge and freezers, then look over the flyers and finally go have a look in the binder pulling anything I plan to use. My list might look funny to some one else but it works for me. There will be the items needed listed, if it’s on sale the sale price is listed on the same line, if I have a coupon for the item there will be a ‘c’ after the item and the sale price. If it’s something I’m not sure I’ll be getting there will be a question mark. That usually happens with something like meat, and there might be two or three things listed with the ? , it usually means I’m not sure which meat I’m going to get, it will depend on how much they have and how good it looks….I’m sure we’ve all been there, planning to get some meat and when you get there it doesn’t look as good as you thought….or there isn’t much left by the time you get there.

    • Sounds like you have your grocery shopping well planned and that’s good. You do very well with your shopping but like anyone we can all easily get swayed into spending more than we anticipated if we aren’t careful!! Keep up the great work!

  5. Mr CBB…wait until you look at my GGC entry that I have waiting for moderation. This is so on target for me!! Let the darned coupon expire – I love it!

  6. Years ago I used to coupon and rebate a lot. I am still using Bounce dryer sheets from 20+ years ago (tells you how much I use a dryer) I rarely bother to do either nowadays. I find the stuff that I usually buy, there are very few coupons for, or the store doesn’t accept them.

  7. I have certainly been guilty of buying something just because I had a coupon. That’s one reason why I cancelled our Sunday newspaper subscription. I got too many coupons for things I don’t need that it drowned out the ones I did. Now, I use mostly the store coupons sent in the mail or email. They are geared toward things I buy for the most part.

    • Well good for you taking charge of the situation that you noticed was hindering your budget success. Now that you are posting your shops in the GG I can see how you are changing week by week and that’s a good thing for anyone. Keep up the great work Kim! Mr.CBB

  8. I definitely think you make a good point about coupons encouraging us to buy what we think we might use in the future instead of things we actually do need and use. I definitely get sucked into that trap sometimes, especially for things that are “non-perishable” like paper towels and such.

    • Every bit of money we spend counts towards our budget so if we are spending an extra $0.50 here and $0.75 there it all adds up. I just hope the point of being mindful of the budget, planning and not buying items “just because” got across to the readers. Cheers!

  9. mycanuckbuck says:

    It’s a very good point – a coupon/sale is only really a savings if you needed the item anyways! Unlike my on sale Joe Louis – which I love, and only bought b/c they were on sale – but didn’t need! 🙂

  10. Great post! And love the title. We do use coupons, but I can totally see how people get carried away with them. We just cut out the ones for the products we use and we usually use them only on sale items. Usually sale prices outweigh the savings of coupons, but it’s helped us a bit for items that almost never seem to go on sale – like diapers and wipes! grrrr 🙂

    • I think we as consumers have to pick and chose what is right for us and really what makes the most sense for our budget. Like us having to throw away all that cereal that wasn’t such a smart move and we’re not the only ones wasting food because we buy too much using coupons. I hope the post is just a reminder to take care when spending using coupons especially when we buy things we don’t need.

  11. I bring all the coupons in, because I’m pretty bad at remembering to list everything on my shopping list. I’ve been getting with the food recently, but toiletries and cleaning supplies get me all the time.

    That said, I have no problems with not using a coupon. I spent too much time growing up watching my mother buy things she didn’t need because they were on sale.

  12. There was a period of time I really loved coupons and signed up for them and everything, but most of the time I was just buying stuff I didn’t need!

    • They are still great for saving money. This week there are Armstrong Cheese Bars 500g on sale for $3.97 reg $6.97 and a $1.00 coupon off so ya we can spend money we don’t want to but we can also save as well. I wouldn’t not use them that’s for sure! Cheers Jessica!

  13. I belong to a coupon swap group and so I collect lists and trade them for things we need. My one weakness is cereal coupons – I collect them and then when there is a great sale, I buy as many as I can, and the ones that aren’t for my husband’s breakfasts go to the food bank. Last month we donated 8 boxes of cereal and it cost us $13.

    • That’s great, good for you. We just wanted to donate to the food bank because we went out and used coupons to get good deals and not because we had too much product or it was coming up for expiry soon and we weren’t eating it. It’s different now. Now we buy and donate from our misc budget in the account.

  14. My first experiences with couponing were very similar to a lot of other people’s responses here. I loved the idea of coupons and would find new and inventive ways to justify the purchase of things like four cans of wax beans because they were “Buy One, Get One”. The only problem with this arrangement is that I hate wax beans.

    The siren’s song of coupons were too much for me and temptation won over common sense. Damn you, marketing ploy! Now, I very rarely look at coupons when looking at my grocery list because I find them distracting.

    However, I think there’s probably a happy medium where coupons can be valuable as long as I have the discipline to only use the ones I will need – and not buy was beans.

  15. Very good points! I never used coupons super extensively, and even when I did, saving a buck or two on items I didn’t really use often or need just didn’t make sense. You save the most when you don’t spend at all.

    • That’s true but not always realistic when it comes to food. We will use coupons on food we normally buy as they are out there.. we just won’t get more than we need. It just goes to waste. Cheers mate

  16. MoneyMasterMom says:

    Hey Mr CBB. Thanks for including my posts. I was offline for a few days in the wonderful world of potty training (please note heavy sarcasm) and this was a nice treat to come back to.

  17. FindTripInfo says:

    I agree that I have bought groceries simply because I had a coupon for it. I don’t do that as often now. A hint: keep some of your store coupons even if they are expired. I asked if I could use expired coupons at Bed, Bath and Beyond in Bellingham, WA, USA a week ago and the cashier accepted them. I saved USD 14 on my purchase.

  18. Certainly agree. It is not a deal if you are buying something you don’t need. We generally only clip the coupons for the things we regularly buy.

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