Due to a downsized economy, many people have turned to coupons as a way to stretch their budget and even to make a living. Bloggers and coupon clippers alike have found the boom in the coupon industry to be quite a lucrative business. Through the strategic use of coupons and a basic knowledge of the coupon industry, anyone can make a living on the use of coupons. It may, however, take a good amount of work to create a livable wage off coupons.
Things You'll Need
Learn the basics of coupon shopping. Most extreme couponers use the same basic method: match a coupon to an item on sale to yield the greatest benefits. Stock up on rock bottom-priced items for a six week or longer period (typically the same amount of time as the sale cycle at your grocery store) and avoid ever paying full price for an item. Know the coupon policy of your favorite stores to capitalize on their specials even more efficiently.
Teach others how to shop. Many extreme couponers take others shopping with them to "teach" others how to shop with coupons. Charge a per trip fee for your shopping trip classes. Teach classes on a larger scale in a local church or classroom. Charge a fee for your time. The one-on-one shopping trip fee should be larger than the classroom fee.
Start a coupon clipping service for your family and friends. Collect papers at a local recycling center and remove all the inserts. Charge a minimal fee, such as 5 to 10 cents per coupon for clipping. Expand your business by listing groups of coupons on eBay. Many find this process a great way to get rid of unwanted coupons or to pay for multiple copies of the Sunday paper.
Create a blog to show others how you save money with coupons. Many successful blogs, such as Hip2Save.com and SouthernSavers.com simply direct shoppers to the best deals in their area. The money comes from ad revenue from readers clicking on on-site ads or printable coupon links. The more readers that you reach, the higher your potential income from blogging.
Tips & Warnings
- Know your stuff prior to teaching others. Couponing is not a complicated science, but it does take some time to master the basic strategies. Try teaching a family member or two prior to branching out to paying clients.
- It takes time to build up real income from blogging or offering classes on couponing. Start small and expect small returns in the first few months. Do not count on large income from this project in the first few months.
- Photo Credit Jupiterimages/Creatas/Getty Images
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