Quiz time: Who is more likely to use coupons – households with only a little money or household with a lot of money? Many people equate coupon usage with being poor. This is very far from the truth. Here are some statistics about coupon users:
- Households with $100,000+ incomes are two times more like to coupon than those earning under $35,000
- College degree holders are two times more likely to use coupons than those who didn’t graduate high school.
Before starting to use coupons my husband and I read The Millionaire Next Door. Basically this book shows that rich people in America live in your neighborhood, drive old cars, and save their hard earned pennies. Contrary to popular belief, millionaires of today do not all live in mansions that have bowling allies and maids. There are millionaires just like you and me – average people with average lives (with a little more than average in the bank).
My husband and I are fairly young (30 and 31). We were married when I was 22 and my husband was 21. In that time we have owned and sold a house in Oregon and we own a house in Georgia. We have purchased a brand new car that was totalled by a high school driver 3 months after our final payment, purchased a used Honda as a replacement, and purchased a new Dodge Grand Caravan which we paid off 11 months early (thanks to Dave Ramsey’s advice). We have brought our existing credit card debt to zero. Currently our two sources of debt are our student loans and our mortgage. We have an emergency fund set up and are investing heavily for retirement. We don’t drive brand new fancy cars or wear designer jean (although, after reading the Gateway Mom Jeans post I really want a pair of some sort of fancier than Gap jeans). We both have prepaid iPhones because it kills us to waste money on services that can be discounted. We don’t have cable because we didn’t watch 90% of the channels. We use a Voice Over IP home phone since we talk on our phone 300 minutes a month. All that money that we aren’t wasting goes into our savings account.
Yet people still look at us like we are poor. In our society being frugal and saving money is somehow associated with class levels and poorness. Sure, there are some people who use coupons as a way to make ends meet. But there are also people who use coupons because it is the smart thing to do. Coupons make cents…..or is it coupons make sense?
Coupons help everyone:
The common misconception that all coupon clippers must are poor is inaccurate. Wherever you fall income wise….all coupon users are smart and savvy with their money!
Have you seen the any stereotypes about coupon users?
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