Did you know that many millionaires use coupons as part of their savings strategies? Find out why using coupons can be an important part of your financial portfolio. Imagine this scenario: Your employer hands you a check for $2,000 and tells you that the company has allocated "x" amount of bonus money for employees and $2,000 is your share. Would you throw the check away? Of course you wouldn't. You would put it in the bank and use it for bills or to buy something you want or need.
Some of the money is then distributed to shoppers via money-saving coupons. If shoppers throw the coupons away instead of using them, they do not get the savings. https://pennycanny.com/coupons/chegg.com
Facts and Figures
Surprisingly, only a small percentage of shoppers (about one percent) redeem coupons.
U.S. Consumer Packaged Goods (CPG) marketers reportedly distributed coupons valued at $470 billion for products used daily like food, beverages, clothing, tobacco, and household items. The average coupon had a face value of $1.54. Only $4.6 billion coupons were redeemed. Coupons valued at $465 billion went unused.
Dispelling the Coupon Stigma
Why do so many people resist using coupons? One reason is that some people are too embarrassed to use a coupon. They are afraid it will make them look cheap or people will think they are poor.
Based on statistical profiling, households with an income of $100,000 or more and shoppers with college educations are twice as likely to use coupons than those who live below the average family income and those who did not complete high school. Another known fact is that many millionaires use coupons.