Using coupons to cut down costs has its pros and cons. There's the possibility you could save money by using coupons. However, you could overspend by purchasing things you may not even need! We asked several finance and money experts to see what they had to say on the art of couponing.
"Coupons are really helpful if you actually 'need' the items you are shopping for. Just because you have a coupon doesn't mean you need to buy it."
"Coupons can be dangerous and they require a little discipline. Don't buy something just because you have a coupon. Don't buy a bigger quantity than you need because you have a coupon. Start with your shopping list, then find the matching coupons. After you know what you need, if it's a bigger ticket item, shop the internet for price, see if coupons exist, and be a smart shopper."
"Yes coupons save money, that is why they call them coupons. However, remember that you are your own best asset and that time clipping coupons could be used to learn about making your money grow."
"There are so many coupon apps. You don't even have to clip them anymore!"
About the Experts
Scott Shellady began his fiscal vocation in 1990 as the European Managing Partner of Prime International Trading London. He continued his career overseas with high-level positions at Muirpace Ltd, Deutsche Bank AG, and was Managing Director of Futures Operations in London for The Industrial Bank of Japan. Mr. Shellady was integral in building a technology company for electronic futures trading called Patsystems Plc. After 11 years in London, Mr. Shellady returned to Chicago to run the family commodities business that was started 40 years ago. Currently, Mr. Shellady is a CEO of Bradford Capital Management. He is a frequent contributor on CNBC, Fox Business News, Bloomberg and Sky News.
Mary Anne Ehlert is the founder and president of Ehlert Financial Group and Protected Tomorrows, Inc.. She is a dynamic financial expert with more than 25 years experience in the industry, focusing on divorcing and single women as well as widows and families with special needs. Personally and professionally, she knows how caregivers should plan and has shared her expertise with the New York Times, Chicago Sun-Times, and Investors Business Daily. She is a sought-after speaker at national women's, financial, and disability conferences. Find her at Ehlert Financial Group.
Liz Dierking is a co-host of of The LIZ & JNY Show. She has spent eleven years on the Chicago Board Options Exchange floor making markets. During this time, she also acted as a Designated Primary Market Maker, Floor Broker, and Floor Official. She also represented her firm on the Market Performance Committee before joining the TastyTrade Financial Network. After leaving the trading floor in 2010, Liz picked up improvisational comedy as a hobby. She learned to merge her passion for finance with comedy and entertainment. She teaches strategies that give viewers an increased probability of success with a decreased capital requirement.
Jenny Andrews, host of The LIZ & JNY Show, brings six years of trading experience to the tastytrade Financial Network. Beginning her career at the Chicago Board of Options Exchange (CBOE), she was the quickest clerk to move to a market maker seat. Jenny has traded in seventeen pits on the CBOE trading floor and was appointed instructor of an Options Theory Course for one of the nation's largest trading firms. This experience gave Jenny the knowledge to leave the trading floor, trade for herself, and share her expertise with others interested in investing, even if intimidated by the seemingly complex endeavor. Jenny joined Liz Dierking in 2011 to co-host The LIZ & JNY Show where she teaches simplified strategies to novice and experienced traders to take the fear out of investing. The LIZ & JNY Show airs live Monday through Friday from 11:00am CST at TastyTrade.