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Couponing, etc.

September 20th, 2011 at 09:25 am

The title of my blog is "Using Coupons to get out of Debt" and I've never talked about my plan for accomplishing getting out of debt by using coupons.

I've been couponing for just over a year and shop mainly at drugstores. Rite Aid and CVS are my two main stores. I take advantage of reward programs including rebates to turn drugstore money into cash. Since I never spend any cash (I put all my purchases on a gift card that I got for Christmas last year), it works out that I can take the cash from my rebate checks and deposit it into a separate savings account.

Since April, I've deposited $541.57. I have another $119.75 to deposit and another months worth of Rite Aid checks on the way ($120.95). My original plan for this money was to donate it to charity but I've since changed my mind to get myself closer to my financial goals. I'm content with my charitable contributions since I donate a good amount of what I buy at drugstores. In four months, I made $782.27 from couponing. That's more than half of my Discover card balance!

Another way I plan to use my couponing to get out of debt is to stock up on items that could be given as gifts. Baby products for showers, toiletries for gift baskets, etc. My plan is to take my budgeted gift allowance and put it toward debt. I recently went to a baby shower and gave a gift entirely out of my stockpile, I put $20 from my gift fund into my debt repayment.

I really want to cut our grocery bill down. Right now we spend $60-$80 a week for two people. I just can't figure how to coupon in grocery stores in our area! I'd be happy if we spent more like $40-$60 a week. Everything we buy is fresh produce, dairy and deli meat. My boyfriend is really picky so he won't eat different breads or English muffins or anything. Almost everything that we buy doesn't have coupons or alternate options. But, I'm going to put my nose to the grindstone to figure out how to cut down on groceries in my area.

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So far this month, I have spend $63 from my piddly money. I used ~$20 of it to buy kitty litter and treats since I forgot to add those into my budget.

I have $87 left. I take the change from everything I spend and add that to my coin jar. I'm also going to take the money from my bottle and can redemptions and put it in the change jar. I roll my change every once in a while and I'll put that money toward debt.

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My mom was able to come through with some student loan money for September. She just lost her job so she thinks this is the last time she'll be able to help. I told her that I'd rather her save it for herself but she insisted, saying that she'd mail the money herself if I didn't take it.

I have about $200 in my bank account that I'm hoping I can put toward the Discover card.


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I have a few upcoming things in October that I need to plan for including a car repair and my annual car inspection that I need to get done. Total, I'll probably spend $200 which will come out of my miscellaneous budget.

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I'm hoping the cruise doesn't push me over budget. I have enough money for our transportation to the pier. Everything is included in the purchase price of the cruise except the excursions. I'm not sure what we'll end up doing but I'm hoping it won't cost too much. I'm of the opinion to pick one fun activity like snorkeling or a tour and spend the other two days on the beach! We'll see what my family wants to do.

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