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5 Ways Coupons Make You Spend More

When you use a coupon, it makes you feel like you are saving money and doing something proactive to keep within your budget; however, don’t be fooled by the marketing ploys around coupons, sometimes they can have you spending more than what you bargained for!

5. Psychological Factor
For many, using a coupon can offer some excitement, as it makes consumers feel as if they are getting a “better” deal. It often causes people to lose sight of what they are actually paying for said product or service.

4. Purchasing Good & Services They Don’t Need
As per Consumer Reports, a whopping 63 percent of people have stated they have purchased items they don’t need, simply because they have had a coupon for it. Ensure that when you gather and use coupons, it is for things that you require or already buy on a regular basis (e.g. items already on your grocery list).

3. Buying More
Companies tap into the “buying more” concept when it comes to consumers and coupons, and some buyers believe that the more you buy with a coupon, the more money you save in the long run. Still, sometimes buying too much means spending that much more, and you end up only using a fraction of what you purchased; with the rest going to waste. It can also create a “hoarders” mentality, creating unhealthy habits, and unnecessarily emptying out your bank account.

2. Expiration Dates Cause Consumers To “Act Fast”
Those expiration dates on coupons make consumers feel like there is a “time crunch” to buying, and will not only get something they don’t need and in bulk quantities, but do so as fast as possible. This time-is-running-out mentality can cause people to overspend.

1. Going Over Your Budget
Speaking of overspending, coupons can cause people to go over their weekly or monthly budget whining buying unexpected things they don’t need. Coupons can make the average consumer spend over their budget as they make a person feel that they are saving money in the long run anyways; despite it being on things they never intended on purchasing in the first place.

At the end of the day, coupons are made to save you money, but they should be used with careful thinking and caution. If you find a coupon on something that you use regularly, then this can be a bonus; if it’s not, buyer should beware.

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