Extreme Couponing and a Balanced Budget

Extreme couponing is a popular topic these days. TLC even dedicated a show (which can be seen on Wednesday nights) to the practice, featuring regular folks like me and you who do what it takes to save hundreds of dollars. Extreme couponing is cutting coupons on crack! I felt the urge to write a little bit about extreme couponing and how it can be effective in having a balanced budget.

The technical details of extreme couponing are simple to grasp but harder to practice. You search online coupon databases for manufacturers' coupons on products of interest. You then coordinate these coupons into separate folders depending on the coupon type. For example, are they one coupon per item, or for unlimited items? You place the folders into large plastic containers so the coupons are easy to get to when you need them. Some extreme couponers create an Excel spreadsheet to keep an index of all their coupons. Match the manufacturers' coupons with store coupons for maximum savings, remembering to mark down which days are "double coupon" days at your store. Separate your coupons into separate transactions, and tuck those away into an organizer.

Off to the store you go!

Ensure you group your items by transaction in your cart to make it easier to get through the line as quickly and efficiently as possible. Watch as the cashier rings up the items, and make sure everything matches up. One penny off could cause you to cancel the transaction. Some extreme couponers have up to 18 transactions!

Extreme couponing has its disadvantages. Focusing on the best deals does not mean you will be purchasing the healthiest foods, or even items you actually need. You may have to give away any extra items that are perishable or that you will never use. Also, you may need to spend up to 20 hours a week honing your skills. But when you consider the savings, it could be like making more than your average part-time job.

Extreme couponing is great for having a balanced budget, because the final cost of most shopping trips can be reduced to between $20 - $50, and that is for several hundred dollars worth of food. How easy is that to budget? This will allow you to budget high each month (say $100) and then pocket the savings. Your only problem will be where to put everything.

For more information on better budgeting, pick up a copy of my book, The Budget of Your Life.