OK, let’s be honest – we could all be a little smarter with our money – but it’s tough. There are endless temptations, unexpected expenses and thousands of fun ways to spend your paycheque before it even hits your account. So in attempt to save money, a lot of us start using coupons. Afterall, in such an expensive world, anything that saves money is a good thing, right? Sort of. Fact is, if you’re not using coupons properly, they can sneakily increase your costs all while tricking you into thinking you’re saving money.

As a reader of the Mogo Savings Blog (good for you, btw) you are on the way to more smarter spending and saving.  So let’s get savvy.

What is a Coupon?

It’s important to remember that coupons are essentially advertisements for a business. Sure you get to save cash on their products or services, but you need to ask yourself, is it something you would be spending money on anyways?

The coupon gives you the illusion of savings to persuade you to spend. Just remember, a good deal on something you don’t need simply isn’t a good deal.

Read the Fine Print

Ahhh, the evil fine print that can turn the deal of a lifetime into an absolute dud. For example, if a restaurant is giving away an appetizer to celebrate their new opening be sure you don’t need to buy two meals and drinks in this fancy place to get your ‘free’ plate of mozza sticks. Be conscious of your consumer obligation.

Use Online Coupons to Save On Things You Actually Need

OK… so despite what I’ve said above… coupons can be a good thing. The trick is for you to find coupons for purchases you know you need to make. If you want to go on a trip, have a fun weekend at home, or try that new restaurant, seek out a coupon or deal to lower your costs – and be conscious of the money you’re spending and saving.  Of course… the easiest way is to keep checking out Mogo’s Facebook page for savings that you’re sure to love!

Other Coupon Sites:

http://www.retailmenot.com – coupons for almost everything

http://www.hotwire.com – Travel deals (but remember, you can use it for your own city as well).

http://savingsalert.mogomoney.com – Mogo’s very own Canadian deal site!

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