An online coupon is a discount number or code that entitles the holder to redeem it on a website or app and pay less for goods or services. The whole concept of couponing began as far back as 1887 when Coca-Cola launched coupons to boost sales.
Coupons were primarily displayed in newspapers and magazines, but with the digital age came online coupons. When it is done correctly couponing is an effective way to cut your spending bill in half.
Here are 4 things you need to know.
Be Proactive About Online Couponing
You’re not going to significantly reduce your budget needs by waiting for the coupons to find you. At best, you’ll save only 20 percent.
Rather, searching for coupons before you shop could mean saving up to 70 percent. Do some digging.
While some stores list their codes on their websites many others do no such thing. Even the stores that do list on their website don’t list the best deals. Coupons are the easiest to find if you already have a store in mind.
This is where online coupon databases come in handy. An online coupon database is a site with a running list of available coupons. It’s like Google for coupons! You simply type in the store or service and get a list of available coupons.
For example, suppose you’d like coupons for the Waitr app (an online food delivery service). You simply type that in and choose. Waitr coupons mean a promo code for free delivery or one for free shipping. Think of all the money you’ll save from only paying for your food and not the delivery charges.
How To Read And Apply A Coupon Code
A coupon code is typically a combination of letters and numbers. Usually around 5 to 10 characters in capital letters. The code could be random, or it could give you a clue as to the type of discount being given.
For example, the coupon code “FREESHIP30” likely means free shipping if your purchases are a minimum of $30.00.
After you figure out the code to use you apply it to your shopping order by either typing it or copying and pasting it into the coupon box then clicking “apply”. The latter is recommended.
The stage at which you apply your coupons varies from store to store. Some stores let you apply the code in the cart before you proceed to checkout. Others require that you reach the checkout stage where you enter your shipping and billing address before you can apply it.
Either of these is fine as long as you remember not to accidentally place the order before you’ve applied the code.
Again, many coupons require a minimum purchase below which you’re not eligible for the discount. The minimum purchase means the actual cost of your order, so it does not include extra costs such as tax or shipping costs.
Try checking the store’s website or searching the internet to determine the requirements of a coupon.
Timing Is Everything
Stores don’t release online coupons at random. If you pay attention you’ll notice a pattern. Stores typically release coupons on the very first day of every month. The start of the week.
Note that stores can expire coupon codes earlier than advertised. This happens when there’s a high demand that results in a limited supply. Act quickly.
In any case, coupons that last up to a whole month usually aren’t the best offers. Larger discounts have an expiry date of a week or shorter.
Types of Online Coupons
Stacking is a couponing strategy that will save you tons of money. Stacking coupons is combining different types of coupons so that in the end you have the biggest discount on a purchase. To take advantage of stacking you need to know the types of coupons.
Here are some of them:
- X% off are discount codes that when you redeem take a percentage off your order. It may apply to all your purchases or to select items.
- $X off are coupon codes that reduce what you pay by deducting a certain amount of dollars. It may apply to your whole order or to only particular items.
- Shipping coupons either cover all your shipping costs or offer you a discount on your overall shipping costs. Remember the “FREESHIP30” example.
- Bonus item coupons give you a free gift when you buy specific items or hit a specific money target. They usually come with a minimum purchase order which you can tell from the code. So “FREEBAG55” will mean you get a free bag with a $55 purchase.
Couponing is a skill that improves with practice. You may not start out shaving off 80% from your budget but with practice and resources like online coupon databases, you’ll be saving tons of money too.