Whether you are currently in debt or you just want to make sure you don’t go into debt any time soon, the use of coupons could help you more than you realize. With shows like Extreme Couponing on TLC, you may think that couponing will use up all of your time, but you don’t have to devote 40 hours a week to be able to save using coupons. Couponing doesn’t have to be all or nothing either. Any savings is better than no savings at all.
You may be worried that pulling out a coupon during your weekly shopping trip will be embarrassing, or that no one else uses them but old men and crazy coupon ladies. This is definitely not true. There are lots of young men and women out there who use coupons to save on their food and health items.
Amanda Clark is an author of articles relating to personal finance, credit history, and saving money. The company she works for strives to educate the general public about their options when they have bad credit.
When you think about it, you probably spend hundreds, if not thousands of dollars each year paying full price on things when you could have used a coupon to save a few dollars. These savings add up, and by the end of the year, you could have saved enough to pay off some of your debts. You could also put this money away for something special, like a vacation or a birthday gift.
If you already use coupons, that is fantastic, and you have probably already seen the savings I am talking about here. However, if you have not started couponing, I challenge you to try. Even if you just use a few coupons from your Sunday paper each week, take the money you would have spent and put it somewhere safe. Transfer the amount into a savings account or put cash into a jar at home. However you decide to save, keep going for a few months, and then see what you have done. After a while, you will probably be hooked on the savings and want to coupon even more.
One other way couponing could help you when you’re working your way out of debt is with your credit score. As you may know, this score could keep you from getting a job, buying a home, or getting a loan. This is why it is very important to raise a low credit score and maintain a good credit score.
When you’ve saved enough money to make a payment on a bill or a loan, you should always get a copy of the check to send to the three credit bureaus. They should then update your credit report to reflect the payment if you ask them to do so. You should also ask the creditor to report the payment to all three credit agencies. It is very possible that your payment won’t show on your report for months, or it could not show at all. If you make sure everyone is informed your credit report will be more likely to see an improvement quicker than if you just assume that your payment was reported accurately.
With couponing, you get out what you put in. If you spend more time organizing and finding great deals, you will see more savings, but if you only have an hour or two each week to look through coupons, you will still be saving money to either pay off your debts or save money to avoid going into debt. An emergency fund can be a life saver when an unexpected expense comes up or when we find ourselves running behind on payments. Saving the money you would have used without your coupons could build up a very reliable emergency fund.
**Amanda Clark is an author of articles relating to personal finance, credit history, and saving money. The company she works for strives to educate the general public about their options when they have bad credit.
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