I’ve read a few articles recently that have to do with coupons, and I’ve also had a couple of conversations with various individuals about them as well. It’s interesting to me how people can have so many different views about something as simple as a coupon. So, I figured I would share my viewpoint as well and let you take it from there.

Who Doesn’t Want To Save Money?

As far as I’m concerned, when I can trade a piece of paper that didn’t cost me anything for a discount on something that I was going to buy anyway, that’s a good deal any day of the week. Sure there are some coupons that you have to pay for such as the Entertainment book or those guys that go around selling coupons for Papa John’s Pizza (anyone know what I’m talking about?), but you know what I’m getting at. It may also cost you a little time to look through them and cut out the ones you want, but honestly, who couldn’t do this while watching television?

I’ve heard some people express the concern that they would be too embarrassed to hand over a coupon in front of friends, family members, acquaintances, or even complete strangers. To be blunt, you’re just going to need to get over this one. If you think the people you’re with are going to ostracize you because of the use of a coupon, then you might want to rethink the people you’re hanging out with. You also shouldn’t worry about what others think of you anyway, but that’s a topic for another day.

My Coupon Disclaimer

If you’ll notice in the above bold statement, I make the point that it’s something that I was going to buy anyway. It’s important to remember that companies don’t give out coupons out of the goodness of their hearts. They’re marketing and advertising tools. If you go out and buy a name brand product that costs $2 more than the generic because you have a coupon for 50 cents, that’s not necessarily a good deal. Look for coupons for things that you already buy and you’ll end up saving quite a bit.

One special situation is coupons for restaurants. It’s not too often that you had planned on going to a specific place and then a coupon for that place just turns up (although it has happened). More often you’ll decide to go out somewhere for a special occasion such as the recent valentine’s day and you can then pick a place based on what you have a coupon for. That’s how I’ve done things in the past and have saved quite a bit on restaurants. I’m also a huge fan of Restaurant.com (affiliate link) for this very reason. I can always find a great deal on some new place or an old favorite.

So that’s my piece on coupons. Pretty short and succinct; maybe I could think of more to say about it, but it’s not that complicated of a topic. What are your thoughts on the subject? Do you have another viewpoint? I’d love to hear it…

1. With all the fear of recession in the market and in the economy as a whole, it was only a matter of time before the government steps in. And true to form, they’re now coming in after the problem has already been in full force for a while, and their “solution” won’t take effect until much later anyway. But who wouldn’t want to get a tax refund check?

2. I’m pretty much finished with the transition of my other blog, The Milk Crate, to a Wordpress platform. At times it was quite frustrating, but the learning experience was great. This blog will also be making the change shortly, but I’m waiting on a domain name transfer at the moment. Any feedback you have of the new site once it’s finished will definitely be welcome. It is, after all, a site for all of you.

3. I’ve talked about slick marketing before, and I’ve run across an article on Yahoo about how stores trick you into spending more. The double discount is something I’ve seen people get fooled by time and time again.

Back in April I wrote a post about some of the slick marketing techniques that companies will use to try and get your business. I’m not going to say that it’s always intentionally misleading, but it can sort of be deceptive at times. Here are a few that I’ve run across recently:

1. Refinance to save hundreds every month.

I’ve actually heard this one on the radio quite a bit over the last couple months, and while it can actually be true and financially beneficial, it isn’t always. If you refinance to a lower rate it’s very possible that you’ll save money. Even so, when many people refinance they end up extending the term of the loan since that’s the only other way a mortgage company can lower a monthly payment. If you’ve only got 10 years left on your mortgage and you refinance into a 30 year loan to lower your payment, you may not actually be saving yourself anything. You just need to make sure you understand what you’re actually doing and the associated terms.

2. Buy this because I did.

You’ll usually see this type of advertising with celebrities. One such example is the American Express ad that has a well known personality who says “…that’s why I’m a card member. Are you…?” You’ll also see a lot of commercials where normal everyday people endorse a product and tell you why you should as well. I believe it’s a great idea to get other’s opinions but you’ve got to make sure that it’s objective. When looking into a purchase, just make sure you make an informed decision.

3. Limited Time Offer.

I’ve heard this one countless times. I’ve heard it in DVD advertisements and time share sales pitches. This tactic is employed in order to give you a sense of urgency and make you think that if you don’t act you’ll regret you’re decision later when it’s too late. If you think about this rationally though, they’re still selling time shares and all other products that were once advertised this way. [Note: The only exception I’ve seen is the Disney Movie Vault.] Don’t let yourself be rushed into a decision. There will always be another great deal.

These are only some of the tricks that marketers employ to try and get you to buy something. If you’ve seen any others, feel free to share them in the comments.

I was thinking that something like this would work great on this blog, probably somewhere in the sidebar where the advertisers hang out. This type of ad does a couple of things quite well. First of all, it’s an attention getter. It’s big and in your face, something that you can’t really miss. It’s also not too busy and pretty simple. For many types of advertising you only have a very short time to capture the consumer’s attention.

This ad also creates a sense of urgency making you think that you’d better move quickly in order to secure the spot for yourself. Even if you’re not currently looking to advertise for anything, it wouldn’t be a bad idea to remember what works and doesn’t work. At some point you’re going to need to market something, be it yourself for a new position or a product or service for a business you’re starting. This is just an example.