This week, we chat with Joanie Demer, co-founder of Krazy Coupon Lady, about effective couponing strategies and how they’ve been updated for today’s shoppers.
Joanie shares her transition from skepticism to becoming an avid couponer, saving $100 on her first shopping trip. Her excitement stemmed from realizing the potential savings.
She discusses the vibrant community surrounding Krazy Coupon Lady, emphasizing that having a coupon doesn’t mean you should shop unnecessarily. Discover the couponing style that suits you best, and how dedicating just 10 minutes a week can lead to $50 in savings. Joanie also reflects on her personal missteps, like stockpiling high-fiber oatmeal, and explains the nuances of discounts from loyalty programs, in-store promotions, and stacking coupons.
In the Mailbag section, we explore negotiating vacation days and flexible work arrangements as part of a compensation package, advice on consolidating retirement accounts, and whether there's a spending timeline for retirement similar to savings benchmarks. Finally, we examine how wedding registries have evolved, with Millennials opting for home down payments and experiences instead of traditional gifts.
Transcript
Welcome to our show. This week, we’re diving into the world of coupons, a powerful tool for budgeting. Coupons aren’t outdated; they’ve been revamped for modern shoppers. We’ll learn from Joanie Demer, who, alongside her best friend, co-founded Krazy Coupon Lady, helping millions save monthly. Joanie, welcome!
Thanks for having me!
Can you share your origin story? How did you get into couponing?
Absolutely! My journey began around 2008 when my college roommate introduced me to couponing and stacking deals. Initially, I was skeptical, thinking it sounded too good to be true. After some convincing, I joined her on a grocery run where we saved about $100. That experience ignited my passion, and soon, we started our blog.
Let’s give a shout out to your co-founder, Heather Wheeler. Where did you both attend school?
We met at Brigham Young University.
So, would you consider yourself an extreme couponer?
Definitely! My experiences helped shape our understanding of the couponing world. We even collaborated with producers of reality shows to create engaging content. However, we focused on sustainable couponing practices, advising our users on manageable strategies. Deals cycle about every four months, so there’s no need to go overboard.
I agree that saving on regular purchases gives the best value. Just because you have a coupon doesn’t mean you should shop.
When is the best time to use coupons?
The style of couponing that works for you depends on your lifestyle. When I started, I had more time and two young kids. Now, as a busy working mom, I can only spare about 15 minutes a week. I can still save $50 monthly with minimal effort.
Indeed, shopping less is a crucial saving strategy.
That’s right! My co-founder and I were raised with strong financial values, but I wanted to enjoy some luxuries without breaking the bank. I learned the hard way that buying items without a plan can lead to waste, as I did with high-fiber oatmeal.
Let’s discuss coupon stacking and loyalty programs. Can you guide us on how to get started?
Sure! Start with weekly store circulars and look for unadvertised deals. Pair these with coupons, aiming for savings over 80%. For instance, at Target, you might find promotions like “buy three, get a $5 gift card.” At CVS, loyalty program members earn extra bucks with qualifying purchases.
Should we check manufacturer websites for additional coupons?
Yes, many coupons are available online, particularly on rebate apps. Krazy Coupon Lady aggregates these for ease of access, providing a curated database of valid coupons.
How much does it cost to access these coupons?
It’s entirely free! We monetize through partnerships and ads, ensuring users never pay for access.
Is it beneficial to use multiple devices for printing coupons?
You don’t need multiple printers, but having different accounts on multiple devices can yield more coupons. Most smartphones can access online coupons, and many apps now allow for rebates without needing to print anything.
Do you use rebate apps? What’s your recommendation?
Ibotta is highly regarded and offers great rebates along with bonuses. I recommend downloading the Krazy Coupon Lady app, a rebate app, and the specific store app where you shop.
This has been incredibly informative! Would you be open to returning for another discussion?
Absolutely! Thank you!
Now, let’s move on to some listener questions. First, we have Sarah, who wants advice on negotiating vacation days. Is it possible?
Yes! Companies have policies, but everything is negotiable. If vacation days are important to you, express that during negotiations.
Next, Charlene asks about consolidating retirement accounts. What should she consider?
Look for ease of administration, fees, and investment options. Keeping accounts manageable can simplify your financial life.
Finally, Lisa wants to know about benchmarks for spending in retirement.
Typically, you should aim to have 25 times your annual expenses saved for retirement. This helps ensure that you withdraw sustainably.
Thank you for joining our conversation today! We appreciate Joanie Demer for sharing her insights. If you found this helpful, subscribe for more discussions. Next week, we’ll explore impact investing with Nicole Connolly from Fidelity.
