If saving money is good, saving taxes too, is even better!
First the savings part: the coupons industry is going through an amazing metamorphosis making saving money even easier; from the old searching and clipping of coupons out of newspapers to...
1) finding and printing coupons on your home computer
2) finding online promo codes, coupon codes and discount codes to use for your purchases online and offline
3) fast, quick and easy digital coupons via a concierge service sent directly to your smart phone
4) investing your coupon savings directly into your kids' college fund
5) getting the savings deposited in your family bank account when you use a specific coupon code
6) savings that have gone from pennies on a purchase to literally many hundreds of dollars
A snapshot of what's been going on in the world of online coupons will also give us a glimpse at what lies ahead.
* Online coupons doubled in offerings from 2008 to 2010, but their redemptions grew 360%!!
* Online coupons or discount codes were redeemed by 88 million people by the end of 2011 - eMarketer.
* It's expected that nearly 97 million Americans will have taken advantage of coupons savings by the end of 2013.
Remarkably, 83% of items purchased with manufacturers' coupons in 2009 were bought by only 22% of families (Nielsenwire). That means that 78% of families - a gigantic, untapped market - is just waiting to discover the amazing savings available through coupons promotions.
The demographics in this niche are really interesting. While most of us might think that lower income families would be the big users of coupons, it turns out that families with annual incomes in excess of $70,000 are the dominant users (Nielsenwire) In addition, homes with yearly income over $100,000 are the "primary drivers of coupon growth in 2009."With all the innovations making coupons so much simpler and easier to get and use, many new families are beginning to use them.
Second, the taxes part, in case you need something more to get you started saving. Consider this: If you bought items or services worth $1,000 using the money from your paycheck (after withholdings); the $1,000 was what was left after you earned $1,340 or so (assuming a fairly standard tax rate). So if you saved $1,000 using coupons, you actually saved the $340 that you would have lost in taxes as well! This is actually a pretty big deal and means that coupons savings are actually quite a bit larger than the face value.
It's the perfect time to start using coupons. More and more retailers and manufacturers are offering them so you can save on virtually anything and many more new advances are right around the corner. Unfortunately, there are a number of "junk" sites that simply offer you a few links that just take you to similar junk sites. In a following article, learn about the truly legitimate sites that will actually offer you a real service.