Welcome to Extreme Investor Network, where we provide you with the most valuable and unique information on personal finance. In this blog post, we will delve into the world of coupons and how you can maximize your savings without falling into the trap of “spaving.”
Gone are the days of flipping through Sunday circulars for coupons. In today’s digital age, consumers have access to online codes, browser extensions, and money-saving apps that offer significant discounts at any time. However, the key to getting the best deals still depends on timing.
According to a recent study by SimplyCodes, Friday is the best day for consumers to save money while shopping online. This is because there is a notable uptick in coupon activity as payday approaches, especially for items like women’s clothing, skin care, and alcohol. Roughly 52% of coupon codes are released between Wednesday and Friday, with a 19% jump in coupon releases on Friday alone.
While coupons can help you save money, it’s essential to beware of “spaving,” the act of spending more to save more. Consumer savings expert Andrea Woroch warns that excessive buying habits and high-interest credit card debt can result from falling into this trap. Before making a purchase, consider whether a deal is truly worth it and resist the urge to overspend.
To make the most of a deal without falling into the spaving trap, sign up for store newsletters, follow brands on social media, and utilize price-tracking browser extensions like CamelCamelCamel or Keepa. Look for coupons on deal aggregator sites like CouponCabin.com or RetailMeNot, and always apply a coupon on top of an already discounted item for maximum savings.
Remember, it’s important to avoid the temptation to overspend. If store emails and texts prompt you to shop unnecessarily, consider unsubscribing from newsletters and deleting shopping apps from your phone. Use browser plug-ins like SideKick to only search for coupons when you need them.
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