This post is was originally published on The Penny Hoarder

Honest Abe

Disclosure:

Some of the links in this post are from our sponsors. We’re letting you know because it’s what Honest Abe would do. After all, he is on our favorite coin.

All Penny Hoarders know that coupons can help you save some serious cash. But there still seems to be a few misconceptions about them.

We’ve debunked 11 couponing myths so you can rest easy when you’re saving money on groceries.

Myth #1: You Can’t Sell What You Buy With Coupons  

I spoke with our in-house couponing expert and assistant editor, Justin Cupler, who said: “Unless otherwise specified by the coupon (which I have seen once in my life), it is well within your rights to resell any product you own, whether you buy it with a coupon or not.”

Cupler said the legal issues can appear if you fail to claim any profit you earn as income on your taxes.

Cupler’s response is backed up by this thread on Avvo, where attorneys answer a question about selling a stockpile of items purchased with coupons. The attorneys agree that, generally, you can resell items you have purchased as long as you abide by two rules: Follow the coupon’s terms, and claim any profit you make on your taxes.

Myth #2: I Can Avoid Committing Coupon Fraud by Paying for Coupon-Clipping Services

Nope! All coupons have a non-transferability clause that says they are void if transferred — this includes selling, buying or even handing one to your aunt. If you don’t believe us, just read the fine print on any coupon you have laying around the house. I’ll wait…

The Coupon Information Center says there are many reasons not to purchase coupons. It not only violates manufacturers’ policies, but it also “simply does not make sense to pay for something that is given away for free.”

Coupon-clipping sites often say they sell their clipping and mailing services rather than selling the coupons themselves. But because the clipping company transferred the coupons to you, it has violated the coupon’s non-transferability clause, therefore, the coupon is void. Redeeming a voided coupon constitutes redemption fraud.

Myth # 3: I Can’t Use Coupons on Clearance Items

If your coupon happens to be for an item on clearance, chalk it up to this being your lucky day!

“The store gets its reimbursement from the manufacturer, regardless of its pricing. This includes clearance-priced items,” Cupler said.

Myth #4: I Can Print as Many Copies of a Coupon as I Want

Some people think if a coupon comes in the form of a PDF or other file, they can print as many copies as they want.

But printing out multiples of the same coupon often constitutes fraud. Most printable coupons have a limit you can print out from one computer and will only give you that many uses in the bar code.

Myth #5: I Can’t Use a Coupon on the Free Item in a BOGO Deal

In couponer terms, this phenomenon is called a moneymaker deal. A moneymaker deal happens when the value of the coupon exceeds the product’s price. In this instance, you generally get the difference in cash or as a credit on your bill. This policy varies by store, so you may want to check your local store’s policy before trying this.

“This ultimately depends on the store, but most allow you to, as they still get reimbursed the full price for the item,” Cupler said.

Myth #6: Couponing Takes Forever

Carmen Mandato/ The Penny Hoarder

Couponing can take however long you want it to take.

“You can do couponing at any level,” said Cupler. His wife spends only a few hours per week couponing, and they save tons of cash in the process.

Myth #7: You Have to Be Extreme to Coupon

This goes along with myth No. 6 and the whole time consumption aspect. Cupler says he and his wife are “kind of extreme,” but they don’t clear shelves. Cupler considers himself a moderate couponer.

If you want to be extreme, go for it: Here’s how to start.

Myth #8: Stores Lose Money from Coupons

Stores don’t lose money when they accept manufacturer coupons — they are credited from the manufacturer. It might take some time for the store to receive reimbursement from the manufacturer, but they do get rewarded.

Some stores also offer their own coupons, which, unlike manufacturer coupons, are not reimbursed by the manufacturer. Store coupons often end up being what are called loss leaders, meaning the store loses money on the product. In these cases, the goal of the coupon is to get shoppers in the store and convince them to buy more products in the process. These are chalked up as paid advertising.

Myth #9: You Can’t Get a Free Item Unless the Coupon Says Free

“If the item [you have a coupon for] happens to be on sale, you could get it for free or even possibly get cash back,” Cupler said. He uses mostly manufacturer coupons found online, but he also stacks them with store coupons.

His wife, Rissti Rusdhiana, also uses Ibotta for even more savings.

Myth #10: You Can Be an ‘Extreme Couponer’ as Seen on TV

Cupler sums up this myth pretty well: “You can’t.”

If you’re wondering why you can’t clear shelves like the extreme couponers do on TLC’s “Extreme Couponing,” there are a few reasons.

Many stores featured only doubled coupons — a practice in which the store matches the manufacturer coupon — during the filming of the episode. Contestants on the show have been accused of redeeming counterfeit coupons. This makes all those crazy deals unachievable for regular people.

Myth 11: I Can’t Use a Coupon at Self-Checkout

You can! Many stores allow you to scan your own coupons at a self-checkout, although their policies may differ. According to Simple Coupon Deals, Target allows you to scan your own, but Kroger requires you to have a cashier manually scan the coupons. Walmart also lets you scan your own coupons at the self-checkout, although this seems to vary by location.

Jacquelyn Pica is a junior writer/SEO specialist at The Penny Hoarder.

Honest Abe

Disclosure:

Some of the links in this post are from our sponsors. We’re letting you know because it’s what Honest Abe would do. After all, he is on our favorite coin.

LEAVE A REPLY

Please enter your comment!
Please enter your name here