You are probably familiar with coupon books. They usually take the form of entertainment books, local coupon books, or school sponsored coupon books. I was recently approached by several neighborhood kids selling local coupon books as a fundraiser. The coupon book cost $20, but boasted to have hundreds of dollars of savings inside. So, I got to wondering, are coupon books worth it? Here are my conclusions.

It’s Worth It If…

• It includes coupons for places you shop regularly.
• It includes coupons for items you are going to buy anyway.
• The savings associated with the coupons you will use exceed the initial cost of the coupon book.
• The book contains high-value coupons. Sometimes the book will pay for itself with the use of just a few coupons.
• The proceeds support a good cause in your community. Even if you don’t need the coupons, someone you know might.
• You can split the cost of the coupon book and share the coupons with a friend.

It’s Not Worth It If…

• It encourages you to spend money you weren’t originally going to spend. See how coupons can cost you more.
• It doesn’t include coupons for places you shop regularly.
• The book contains low-value coupons. The more coupons you have to use to pay for initial cost, the more likely they are to expire or be forgotten.
• If you can get better deals at stores not associated with the coupons in the book.
• You can get better deals using your own coupon strategies and free coupons.
• You forget to use the coupons in the book.

Before spending money on a coupon book, make sure you take a look at what coupons are inside. Stick with the rule, “don’t spend something to save something.” The truth is, buying something simply because you have a coupon for it doesn’t save any money. So, take a minute to evaluate your shopping habits and decide if a coupon book is right for you.

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