Oren estimates that he saves at least $2,000 per year with grocery coupons. In addition to paying low grocery prices, the Spieglers also buy all of their clothes at clearance prices, and they earn a 2-percent rebate on all of their credit card spending. Of course, they pay the credit card bill off every month to avoid interest charges. They also manage to enjoy regular vacations to Florida and California (with bargain airfare and hotel rates, of course).
Oren proves that squeezing the pennies from your basic household expenses can add up to real bucks. At age 52, Oren expects to be able to save enough money to insure a comfortable lifestyle when he retires from his government job. He currently contributes the maximum to his retirement plan and a chunk to his Roth IRA. After all that, he contributes additional savings to mutual funds and other savings plans. His wife also contributes the maximum amount to her employer’s retirement plan and looks forward to retiring early.
Take a page from Oren’s book this year and work to pay less for your groceries, clothing, gifts, entertainment, restaurants and more by looking for sales and coupons. Paying less for the same merchandise or entertainment can help insure a comfortable retirement for anyone. With his approach, you can even make it a fun game.
That’s what I call smart saving!
Stephanie Nelson shares her savings tips as a regular contributor on ABC News’ “Good Morning America.” You can find more of her savings tips in her book “The Greatest Secrets of the Coupon Mom” and on her Web site at www.couponmom.com. She can be reached at email@example.com.