Comments on: Ask DSM Readers: How Do You Make Your Virtual Savings Real?

By: Sara

Sara — Thu, 12 Nov 2009 16:17:18 +0000

My number one rule…I only use coupons for things that I know I will use. I never use a coupon and go buy something just because its a really good deal. For most of us that may seem elementary, but I’ve talked to several couponers here lately who will go buy all kinds of things just because they can get a good deal on it. Then their house becomes cluttered, and they don’t truly know what they have. They actually end up spending more money than they would if they weren’t couponing.

Secondly, I stick to my budget. When I decided to become a stay-at-home mom, I made it my “job” to save us money. For a year, I saved all of my receipts and then figured up what we were spending on average per month in each area. I found places where we could cut back and created our budget based on those figures. When I shop with coupons and sales, I almost always spend less than what our budget allows. I take the extra money and put it into savings.

By doing these two things, in the past 2 1/2 years that I’ve been staying home, we have bought a vehicle (paid cash), had another child, paid off our mortgage, and are living debt free with a good amount in savings.

By: Amy J

Amy J — Thu, 12 Nov 2009 04:10:17 +0000

One of the best ways to know if you are getting a good deal is to price check most of your items at various stores. For example I always try to pay $1 or less for items like: shampoo, deodorant, toothpaste, toothbrushes, floss, facial tissues, body wash, canned soup, cereal, and juices. When in doubt put something back. I give myself a $75 budget for groceries and toiletries for the week (family of 6). I try to keep each shopping trip under $20. That way I can shop the sales of the 3-4 stores in my area.

By: Mary

Mary — Wed, 11 Nov 2009 16:58:04 +0000

Thank you so much for putting up this question and to all of you who responded!!!!!! I was going to just pay for everything with cash and then just put leftover in a jar to use the next week. BUT I saw a problem with this…family may see it as “free” money and dig in it, myself included.

Now, I think it would be a great idea to have my checking/savings acct combo, that I rarely use, reserved for couponing/grocery shopping. I will transfer $100 into the checking every two weeks. What is left over at the end of the month will go into the savings acct. I plan on starting this Jan. 1 since I am in stockpiling mode. (We just bought a house and before the big move I bought only parishables for three months.) I feel sure I will be able to do well by year’s end as before couponing I stuck pretty well to a $300/mo. budget for a family of 4.

Three things we are planning that this money will be used for 1. Living room furniture, 2. Disney World Trip w/o use of credit cards, 3. Payoff car and truck by end of year in order to buy a much-needed SUV for trips for entire family.

By: Mary Beth

Mary Beth — Wed, 11 Nov 2009 12:38:15 +0000

Thanks Nichole!

By: Cheryl Yoder

Cheryl Yoder — Wed, 11 Nov 2009 11:39:59 +0000

I have the family on a strict budget, so I’m not sure how well mine applies to everyone. However, I keep my receipts throughout the month and the price (sans coupons) is what I place in the budget. Any additional income (such as surveys, rebates, etc) go into savings. At the end of the month, I tally up the budget and any “leftover” money goes into savings. Of course, there are times when I have to dip into the savings for emergencies, but with this method I’ve been able to build our savings and create a stockpile. This month I’ve bought almost no groceries (except fresh fruit, veggies and milk) due to the stockpile. So…my grocery budget for this month will almost all go into savings. It has worked well for me! I love deals and coupons!

By: Nichole

Nichole — Wed, 11 Nov 2009 06:59:01 +0000

Mary Beth, I was going to comment that I only use black ink. I changed my printer settings to print in only black and that way I save because the black ink is cheaper. Also, I go to Staples and they price match competitors and allow you to use competitor coupons.
Liz Taylor, GREAT IDEA about the mortgage payment.
At this time, I am not able to save my savings. I just don’t have the money to buy the things I need. I have been couponing, mystery shopping and rebating and I have saved these checks and plan to cash them in at the end of the year. (before they expire) My daughter is in college so I use mypoints to get her gift cards and I will use the rebates for something else special. Since I just started getting this serious about couponing I have not been keeping track BUT I have been able to spend less because instead of going out to eat, I just sign up for a mystery shop and eat fee. My plan next year is to continue what I am doing and track my savings and do like Liz and pay an extra mortgage and car note payment.

By: Patty M

Patty M — Wed, 11 Nov 2009 03:24:29 +0000

My husband is 55 and is eligible to retire but can’t because we have 2 sons in college plus a 13 year old. So all the money I save from couponing goes to college payments and extra mortgage payments. (we still have 13 years left on mortgage) In June I was laid off and spent the summer looking for work. When I couldn’t find work I took a serious look at how much I was spending and was appalled to see just how much I spent on food alone. I did a spread sheet for the year, saw that I spent anywhere from $250-375 per week on food with July being the highest amount at $1,500/month (Gasp!) So for the last 2 months I’ve made this a full time job and because of sites like this have learned to cut my food/drugstore bills in half maybe more. I’m still in stockpile mode so I feel as though I’m spending a little bit more at the moment. So for me I definitely know where my extra money is going: college, mortgage, stockpile. Thank you Tara for this great site.

By: Mary Beth

Mary Beth — Wed, 11 Nov 2009 03:00:48 +0000

To Bridget – Thanks for the idea of printing in grayscale!

By: nida

nida — Wed, 11 Nov 2009 02:50:11 +0000

we are pretty tight due to only having one income plus numerous debt payments (that actually equal hubbys 2 week paycheck yikes!) so we dont get to save anything, but thank god for couponing that we can afford to get so much food and other toiletries and items, on less then a $300 per month groceries budget for two of us, but this also provides for my mother in law, brother in law and occasionally the needy….

i track everything in an excel sheet so i can see how much we are spending and where… its all set up with formulas etc, so i just enter whatever i paid from receipt totals, and most of them have coupons tendered amount too.. just plug n play!

hopefully when i have a job, our plan is to stick to the same budget, and use my extra income to pay off the debt faster and save some money for rainy days….

By: Kat

Kat — Wed, 11 Nov 2009 02:42:26 +0000

Excellent question!
Basically, we have a budget for food/health and beauty. At the end of each month, anything left in that budget gets transferred over in to a savings account, which is our “rainy day” fund. We’re nowhere near the recommended 6-8 months of emergency cash, but the growth has certainly been faster now that I’m couponing!
I’ve also noticed that it’s easier for us to donate to charity. I may not be purchasing items for my pantry, but I know that I want to help the food bank and my church. Coupons have really helped to increase the amount of canned goods, non-perishable food items, and health and beauty items that I can donate this year! (I mean, it’s hard to beat 20 cent cans of Campbell’s chicken and noodle soup, or 30 cent cans of Hormel chili!)

By: Maria Campbell

Maria Campbell — Wed, 11 Nov 2009 00:26:32 +0000

I pay for all my bills with a credit card that gives you points plus any out of pocket I have to pay while couponing. When the bill comes, I pay the whole thing off and bank the points. Several times a year, I use the points to get gift cards which I use to purchase my clothes when the company I like has a sale with free shipping. I save using coupons and make my bills pay for my clothes.

By: MommyPaine

MommyPaine — Wed, 11 Nov 2009 00:00:23 +0000

i just started “couponing” recently and although I’m saving money on things I already buy…I actually think I’ve spent more the last 2 months. But on the other hand – I now I have a nice stash of less than 0.50 or free toothpaste/deodorant/shampoo/ soap/etc where as before I paid full price but only when I actually ran out. So I will save in the long run I guess. For me the bargain hunt is more of a game than a necessity. I am very blessed that way. Thank you Tara for your website and everyone else for sharing the deals.

By: Amanda

Amanda — Tue, 10 Nov 2009 23:10:23 +0000

When I started couponing, I kept my food budget the same, but now I am able to buy so much more for that money! I can splurge on some organic products, wine once in a while, and hosting a meal for friends. Also, I am starting to purchase some products we don’t use just to give to local charities.

By: Ellie

Ellie — Tue, 10 Nov 2009 21:41:42 +0000

Thanks for sharing, everybody.
We’re currently at a point where we can’t save, but I will always keep an eye out for Target gift cards and rebates to save for Christmas gifts. What a help!

By: christina m

christina m — Tue, 10 Nov 2009 20:21:17 +0000

right now, we coupon out of necessity to survive. we are on one income- i stay at home with the kids during the day and am in nursing school at night. once i am done with school, my plan is to keep couponing and take the money i saved at the end of the receipt and put it into 2 accounts for my kids college. i will also use that money for one awesome family vacation, because i want to make some great memories with them!!

By: Celeste

Celeste — Tue, 10 Nov 2009 19:40:08 +0000

Not that this is a useful answer to anyone, but I just coupon so that we get through each month. I am finishing a Ph.D., husband is finishing a Masters Degree and we have 2 kids and part time income and we’re making it on that income based on coupons and our financial aid scholarships. I recently spoke to my classmates without kids–because they have big expenses coming up they are trying to budget only $300 for food for two people each month. I feed four on $100 and we have a stockpile of at least 1 month worth of food even if I quit shopping.

By: katie b

katie b — Tue, 10 Nov 2009 19:31:28 +0000

Although I am a CPA, I strugle with sticking to a budget like everyone else. We have a tight grocery budget and I have to stick to a certain spending amount every week. I am a stay at home mom now with 2 babies in diapers and my husband’s employer does not allow overtime this year.

What we save goes to paying regular bills. After that we use it for buying clothes, eating out, and other non-essientials. We do not have credit card debt or car loans, so I am thankful for that.

Reviewing your budget on a monthly basis and doing a budget/actual expense comparison with my husband keeps me accountable for what I am spendng.

By: Amy

Amy — Tue, 10 Nov 2009 19:22:38 +0000

I have to agree with what Sluggy said….
If your spouse is not “supportive” of another bank account that is seperate… open one for yourself! Rainy days occur far too often to even the best of people! At some point – you are either really going to wish that you set the money aside, or know that you CAN actually purchase that certain item that you REALLY need or as a much deserved treat!
I consider cutting the grocery budget as part of my job. I am a WAHM (work at home mom!)… and while I may only bring in a hundred dollars a month doing surveys, mystery shops, etc… I consider the money I saved as my part of the family income. Watching sales, budgeting, couponing, etc IS a job!

By: sluggy

sluggy — Tue, 10 Nov 2009 18:28:24 +0000

I have “saved” over $23K buying Food/Toiletries, using sales and coupons. I have actually banked over $18K of that $23K in a separate interest-baring account. What happened to the other $7+K?
It paid for the new roof on the house last month…in Cash!

I would suggest, especially if you have a spouse who doesn’t believe the savings you can realize from shopping smarter, that you take the amount you saved and park it somewhere separate from your usual bank account or wherever you keep your usual money. Spending it on other necessities is fine too but being able to “see” a separate pile of money before spending it on needs is thrilling! ;-)

By: amy

amy — Tue, 10 Nov 2009 18:22:48 +0000

I have rearranged my budget now that I know how much I typically spend each month since using coupons. Before coupons, my grocery budget was 420 a month (100 a week plus a few days) but since coupons, I spend no more than 180 dollars a month, and the rest of that budget goes now goes directly into our savings account so we really are saving up the money for when we need it.

Also, I count the money OUT OF POCKET each time I go as part of the 180. That way, when I receive a register reward at Walgreens or a rebate, that all goes direct into savings as well.

By: Melody

Melody — Tue, 10 Nov 2009 18:18:22 +0000

With my husband losing his job in January, and my own business suffering in this economy…couponing and bargain shopping is a NECESSITY to live. We were spending anywhere from $100.00 to $150.00 a week on groceries. NOW…I’ve learned to stockpile by shopping the sale ads and combining that with coupons so I NEVER pay full price for anything. Now…between my trips to Meijer, Walgreens, and Target I might spend anywhere from $40.00-70.00 a week depending on the sales and what we need. What we’re not spending on groceries/household items now we are able to apply to other debt or put in savings for emergencies, Christmas, medical, etc.

By: Katie

Katie — Tue, 10 Nov 2009 18:07:18 +0000

I would LOVE to set up a separate account just for all of my savings that I find through this website, but unfortunately thats just realistic for me. Honestly, I need every penny I can get so my ’savings’ from products just goes right to other bills and necessities! Ugh!

But I do really appreciate your site and all of your hard work putting it together for us. I can’t even tell you how much you’ve helped me w/ Chrismtas shopping and finding gifts for my daughter that I may not have splurged on otherwise! :)

By: Bridget

Bridget — Tue, 10 Nov 2009 18:01:39 +0000

I have been able to cut down my grocery bill drastically since I started using coupons. I usually scan all the ads at the beginning of the week and figure out what the good deals are.

We keep a grocery list on the fridge, so I also look at that and consult the coupon database to see if there is a coupon for that item. I always compare prices though when I shop, don’t just buy the name brand because it has a coupon….I haven’t moved the money I save into a separate account exactly, I just increased the amount of money that my hubby and I put into our savings automatically 2x a month.

Another way to save is that I have my printer set to ALWAYS print in grayscale vs color. If I have something that needs color, I change it for that one thing then put it back for everything else.

My oldest son (8yrs old) is very interested in what I save at the store. He always wants to know what the cost is before and after coupons!

By: Kris

Kris — Tue, 10 Nov 2009 17:53:46 +0000

I’m fortunate to be one of those who doesn’t have to coupon, but does because it’s a great way to save. My husband and in-laws kept making fun of me for couponing. So January of last year I start to keep track of everything I saved by using a coupon. I saved over $1000. I told my husband we should open up a savings account and put the money I save by using coupons into that, but he didn’t want to. This year I have already saved a little over $1800. He still doesn’t want to put it into a different savings accounts. So while I’m not one of those who is moving the extra money around, I have noticed an increase in what is left in our checking account each month after bills are paid. It’s worked out well that recently I wrote a check for over $1000 for him to put into another account that we use for vacations and house stuff (it’s with a different bank so I can’t easily transfer the money to it or I would). When I handed him the check, he was confused. Didn’t know where the extra money came from. I said “It’s a large chunk of what I saved by using coupons and it was just sitting in our checking account”. That felt good. Since he still isn’t interested in me putting the money saved in a different account each month, I think what I’m going to start doing is just paying extra on our mortgage. Whatever I saved in coupons that month, if it’s not needed for something else I’m going to add that amount to our mortgage payment. We are lucky that we don’t have any debt other than a mortgage, so it makes sense to pay extra and work on paying it off sooner than 30 years.

By: Chelle

Chelle — Tue, 10 Nov 2009 17:19:01 +0000

I’ve been thinking about this a lot myself. My family is hoping to go to Disney World in Feb/Mar 2011 so I am thinking about helping us save for it by actually SAVING my savings. I can’t do this with everything because if I buy the kids $500 worth of clothes on clearance for the next year for $75, it’s because I don’t actually HAVE the $500 to spend. But I am thinking that my New Year’s Resolution is going to be to open a separate savings account and each time I go GROCERY SHOPPING, whatever that receipt says as far as “You saved” I am going to challenge myself to put that amount into the savings account. I don’t think it will pay for our trip, that’s for sure. But it just might cover our travel expenses back and forth, or our spending money while we are there, or the new camera I “need” before we go!