Save More Money in Less Time: 3 New Rules

Photo (cc) by sdc2027

It seems the lingering recession has an upside: It’s created faster and more efficient couponers.

Perhaps the most interesting finding from coupon site RedPlum’s fifth annual Purse String Study is that deal-seekers spend less time seeking deals than they did last year – yet they save the same amount of money.

Last year, more than 90 percent of participants reported that they spent two to three hours a week searching for savings via coupons and other deals. But this year‘s study saw an 18 percent increase in the number of participants spending less than one hour a week searching for savings.

Shoppers have developed a “forever-frugal mindset,” says Lisa Reynolds, a vice president for RedPlum’s parent company. “They have become so accustomed to searching for value that these deal-seeking behaviors have become second nature to them. They clearly value the dollar as well as their time.”

If you aren’t among this new breed of super-savers, you can still learn from them. The answers from the study’s 9,100 participants point to three key trends…

1. Pick up the phone

More people use their smartphones to save – 100 percent more than last year – in more ways than ever. Within just a one-month period, participants reported using their phones to:

  • Search for deals via social media (12 percent)
  • Redeem a deal received by text message (15 percent)
  • Download a savings-related app (15 percent)
  • Download a coupon (18 percent)
  • Compare deals (19 percent)
  • Redeem a deal received by email (21 percent)

2. Diversify your portfolio

Although high-tech deals are more popular today, low-tech deals seem no less popular. In fact, super-savers save up to $50 a week by taking advantage of multiple methods:

  • Deal websites (88 percent)
  • Online coupons (82 percent)
  • Mobile coupons (79 percent)
  • Circulars (79 percent)

They also seem more open to trying more methods compared to last year. When asked how they would save an extra 25 percent, participants said they would be willing to:

  • Sign up for an email newsletter (75 percent)
  • “Like” a Facebook page (67 percent)
  • Tweet or retweet a deal (17 percent)

3. Share and share alike

More than 80 percent of participants said they share or swap coupons and deals with friends and family – and it turns out they save more money a week than participants who said they never share. The super-savers share by:

  • Word of mouth (82 percent)
  • Printed coupons (55 percent)
  • Email (40 percent)
  • Social media (28 percent)

Karla Bowsher covers consumer, retail, and health issues. If you have a comment, suggestion, or question, leave a comment or contact her at [email protected].

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
This Cellphone Carrier Has the Worst Network Quality, Customers Say
This Cellphone Carrier Has the Worst Network Quality, Customers Say

One major wireless provider stands out for the least reliable call, messaging and data services.

3 Costly Social Security Mistakes That Women Make
3 Costly Social Security Mistakes That Women Make

Women face unique challenges when planning for retirement and making these mistakes can result in a skimpier retirement.

3 Ways a Health Savings Account Can Improve Your Finances
3 Ways a Health Savings Account Can Improve Your Finances

Open an HSA in minutes to help you save on taxes, cover medical expenses and grow your retirement nest egg.

These 12 Reusable Products Save You Money Over and Over
These 12 Reusable Products Save You Money Over and Over

Buy reusable versions of these household items, and you won’t have to spend another dime on them for years.

Drivers Give These 5 Car Insurers the Highest Marks
Drivers Give These 5 Car Insurers the Highest Marks

One company claimed the top ranking in several categories.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
7 Kirkland Signature Items to Avoid at Costco
7 Kirkland Signature Items to Avoid at Costco

Even if it seems you save a bundle buying Costco’s Kirkland Signature brand products, they may not be the bargain they appear to be.

8 Tips for Retiring Comfortably on Social Security Alone
8 Tips for Retiring Comfortably on Social Security Alone

It’s never too early to start learning how to live well while living on less.

The Next 5 Groups Who Will Get the COVID-19 Vaccine
The Next 5 Groups Who Will Get the COVID-19 Vaccine

The CDC has unveiled a schedule that likely will determine who gets the next doses.

Am I Eligible for My Mother’s Social Security Benefit?
Am I Eligible for My Mother’s Social Security Benefit?

Can an adult daughter tap into her late mother’s benefit?

11 Generic Products You Should Buy at Costco
11 Generic Products You Should Buy at Costco

Not all generics are worthwhile, but these are among the best from Costco’s Kirkland Signature brand.

9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

This Surprise Factor Can Raise Your Risk of Dementia
This Surprise Factor Can Raise Your Risk of Dementia

Nearly half of U.S. residents may face this threat.

Organize Your Home With These 10 Thrift Store Finds
Organize Your Home With These 10 Thrift Store Finds

Resolve to be clutter-free in 2021 with these secondhand purchases.

This Gas Station Scam Is Victimizing More Drivers
This Gas Station Scam Is Victimizing More Drivers

For the second straight year, a growing number of Americans believe they’ve fallen prey to this scam.

11 Laws You Could Be Breaking Without Knowing It
11 Laws You Could Be Breaking Without Knowing It

Seriously? Fibbing about the weather is a crime? This and other little-known legal traps await the unwary.

These Are the 3 Best Used Cars You Can Buy
These Are the 3 Best Used Cars You Can Buy

These vehicles boast reliability, safety and long-lasting value.

6 Legal Documents Retirees Need — but Don’t Have
6 Legal Documents Retirees Need — but Don’t Have

Few retirees have all of these documents that are crucial to their golden years — especially during a pandemic.

13 Things Seniors Can Get for Free — or Almost Free
13 Things Seniors Can Get for Free — or Almost Free

There are many ways to get cheap or free services and goods after reaching a certain age.

Internet Providers Can’t Charge You for This Anymore
Internet Providers Can’t Charge You for This Anymore

Starting this month, your ISP no longer can bill you for this fee.

Can a Divorced Widow Claim Her First Husband’s Social Security Benefits?
Can a Divorced Widow Claim Her First Husband’s Social Security Benefits?

The rules are complicated when it comes to eligibility for survivors benefits.

9 Small Expenses That Are Bleeding Your Budget Dry
9 Small Expenses That Are Bleeding Your Budget Dry

Keep more of future paychecks by eliminating these budget-busting unnecessary expenses.

15 Painless Ways You Can Cut Costs in 2021
15 Painless Ways You Can Cut Costs in 2021

Follow these tips to save, so you’ll have money for things that really matter.

The 4 Best Things to Buy in January — and 4 to Avoid
The 4 Best Things to Buy in January — and 4 to Avoid

As a new year dawns, deals abound for some types of products. In other cases, it pays to wait.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.