Is Couponing a Giant Waste of Time?
The idea behind Qponsr is, of course, helping you save time while saving money. Qponsr was created based on the fact that we're all busy and need to use the little spare time we may have wisely and efficiently.
When you sit down and take the time to coupon, it's important to consider whether the time you're spending is worth the savings. Try to decide whether you are spending as much time finding and clipping coupons as your coupons are worth. Also ask yourself, what is your time worth (literally, cost-wise) to you?
This doesn't need to be complicated, but there's a good way to break it down and see if you are better off using your time in other, more lucrative ways:
1. Put a Dollar Value on Your Time: Use a time and money calculator to see if the savings are worth the time you're spending. This one was recommended in a Wall Street Journal article and is a fun way to weigh and balance your time input, and savings output. Assign a real number to your time to compare.
2. Consider Your Disposable Income: If you have lots of disposable income, and highly value your free time, you may not need a calculator. The time spent couponing just might not be worth it. Still want to save money? Use savings apps (like Qponsr's upcoming phone app) to help streamline the process.
3. Consider Your Free Time: If you have lots of free time, or have very little but enjoy spending it doing a passive activity like watching tv, couponing may be little to no burden to you. After all, you can coupon while watching tv or listening to music! If your free time is rare and highly treasured, no amount of money saved may make it worthwhile to coupon (unless you absolutely need to).
4. Educate Yourself on Opportunity Cost: That's what all of this boils down to. You can learn about opportunity cost in a finance class, online, or by spending some time reading at the library. You'll learn how to determine if any activity is worth the effort!
Qponsr wants to make your input minimal, while maximizing the output in savings. Keep checking back for continued updates that streamline the savings process!