Buzz
It’s probably safe to say that no one has ever built wealth just by clipping coupons. However, this doesn’t mean that saving money is futile. Some money-saving techniques are definitely worth the effort and can save you a substantial amount in the long run. Yet, there are others that just aren’t worth your time. Here’s a list of specific habits I’ve stopped because they weren’t worth my time or energy (and they probably aren’t worth yours either).
Cutting Out Physical Grocery Coupons
Coupon clipping is often mocked, mostly because people assume it’s a time-consuming activity. Personally, I never found that to be the case.
I had a system in place that took only fifteen minutes each week, and I typically saved between $10 and $15. Eventually, though, I realized that just because a task doesn’t take up much time doesn’t mean it’s really worth it.
Let’s break down the numbers. With $15 saved in 15 minutes, I’m effectively making $1 a minute, which translates to $60 an hour. While the math adds up, it doesn’t quite make sense. I don’t actually earn $60 an hour like I would at a regular job. Spending 60 minutes couponing probably wouldn’t save me much more money, unless I’m buying things I don’t actually need. Also, I’m not a robot. I value my free time far more than that, and as I get busier, those extra 15 minutes a week become more precious.
There are simpler ways to save $10-$15 a week. If that amount was critical to me, I could just move to a cheaper apartment and save a lot more. Then there’s the issue of clutter. I can’t stand clutter, and with coupons, I ended up with piles of newspaper inserts crowding my desk drawers. It was just wasting space and paper.
Another downside to couponing is that, according to research such as this 2003 study from NYU (PDF), it encourages you to buy things you wouldn’t normally purchase. Ultimately, it’s just another form of advertising designed to make you consume more. Don’t get me wrong, if a useful coupon comes my way, I’ll use it. For instance, my local grocery store recently sent me free coupons for things I actually buy, so why not take advantage of them? But that takes no time or effort from me.
What I Do Instead: Plan My Meals More Effectively
Instead of obsessing over coupons, I decided to tackle a bigger issue: my grocery shopping and restaurant spending. I have a bad habit of overspending on dining out every month, and that extra spending adds up to far more than the $60 I was saving with coupons. I would also spend too much on groceries, buying food I never ate because I didn’t know how to shop efficiently.
The bigger problem was my lack of meal planning, which led to spending money on unhealthy food I didn’t even enjoy.
There are some great meal planning apps out there, and I’ve tried quite a few, but MealBoard is my favorite. It costs $3.99, but it’s totally worth it for the features and simplicity. You can add or upload any recipe, drag and drop it onto specific days of the week, and the app will automatically create an organized shopping list to quickly gather everything you need. Plus, you can save weekly templates. Some apps offer similar features for free, but they tend to be limited and harder to organize, at least in my experience.
In the end, I saved more money by ditching coupons and focusing on my real spending issues.
Hunting for the Best Price on Everything
Of course, if I’m buying a $900 laptop that I plan to use for years, I’ll definitely look for a great deal. Deal hunting has its place, but I’ve spent way more time than I’d like to admit searching for the best price on things like toilet paper through Amazon Subscribe and Save.
I’ve become quite skilled at finding the best deals on stuff, and occasionally it really pays off. I’m still proud of the KitchenAid mixer I snagged for $160, for example. But then I cringe when I think of all the time and energy I’ve wasted researching deals on every tiny purchase, just to save a couple of dollars here and there. The small savings do add up, but the same logic applies to your time and energy too.
What I Do Instead: Set Boundaries
Rather than hunting for the best price on everything, I set a spending threshold. If I’m buying something over $30-$40, I’ll take the time to find a better deal. But if it’s something quick like toilet paper from Amazon, I won’t spend more than a couple of minutes looking for the best deal. If I end up spending two extra dollars, that’s fine. There are bigger regrets in life.
Your guidelines should be tailored to your preferences, and mine aren’t rigid. I just have a rough sense of when deal hunting is worth my time and when it’s not. Technology can help with this too. Tools like Honey, Invisible Hand, and CamelCamelCamel make it easier to monitor prices and ensure you're saving the most money.
On a deeper level, part of breaking free from this time-wasting habit involved learning to let go of my scarcity mindset. In the past, if I realized I’d spent even a few extra dollars on something, it would eat away at me. To be honest, I was quite cheap! This stemmed mostly from a fear of being poor, which kept me in a defensive mindset, reacting out of fear rather than taking a proactive approach to my finances.
Using Saving Apps That Are Too Time-Consuming
There are plenty of fun apps designed to help you save money. I was hooked on them, not necessarily because they saved me a lot, but because they were fun. It felt like I was playing a game, earning a few cents here and there.
Eventually, I realized how much time I was wasting on these apps, many of which required extra effort on my part: taking photos of receipts, uploading them, checking in at stores, or answering survey questions. It became a lot of unnecessary work.
Furthermore, these shopping apps are just that: shopping tools. While they might save you a few bucks here and there, they ultimately encourage you to buy more, much like a great sale does. We actually feel more relaxed and happy when we get a good deal, which can make us more likely to spend more. For example, a study from Columbia Business School found that...
The study explains why luxury goods and services, like high-end boutiques and luxury hotels, are often marketed in relaxing environments. When customers are relaxed, they are more willing to pay higher prices, assuming all other factors are the same. This insight has significant implications for marketers.
In essence, using these apps might have saved me a few dollars, but they put me into consumer mode and rewarded me for spending. That might seem harmless at first, but over time, constantly juggling these apps encouraged mindless consumption.
What I Do Instead: Mindful Spending
Instead of trying to figure out which apps were worth my time, I decided to ditch the ones that weren’t useful, deleted them, and stuck with the ones that required minimal effort from me.
Not every app or shopping portal demands a lot of effort. I’m comfortable with the ones I use because they’re hassle-free. Some apps might offer value, but for me, it boiled down to being conscious with my spending—making intentional choices rather than indulging in impulsive purchases.
Instead of trying to earn cash back or rewards for purchases I make, I’ve realized that I save more by questioning my spending right from the start. A simple way to do this is by asking yourself a few questions before buying something, such as:
Is this something I planned to buy?
Will this end up in the 'junk' pile later?
Where will I store this?
Is this included in my budget?
Why do I feel the need or want for it?
There’s no issue with spending money, but it all boils down to your priorities. Make a list of the things you truly enjoy spending on, and as Tiffany “The Budgetnista” Aliche advises, “put your needs and loves before your likes and wants.”
You might argue that it’s worth earning rewards or rebates while spending on your essentials. If it’s worth your time and doesn’t promote bad financial habits, then sure. But from my experience, I saved more in the long run by limiting my use of those tools and reducing exposure to marketing that encouraged unnecessary consumption. Don’t get me wrong, I still spend, but I try not to spend just for the sake of it; I spend only on things I love and have budgeted for.
Looking Exhaustively for Travel Deals
Travel can get pricey, so I get the urge to hunt for the best deals on anything related to travel. But sometimes, the effort to find the cheapest option can end up working against you.
Take my experience with a last-minute hotel booking app, for example. The hotels weren’t exactly thrilled, and sometimes the service suffered. One hotel clerk even told me to just call directly next time and they’d match the price. It’s easy to overcomplicate things when trying to find the best travel deal, but sometimes it’s as simple as picking up the phone and making the booking.
Flights are pricey, and we all want to save wherever possible. For me, that usually means fitting everything into one carry-on to avoid baggage fees, and agreeing to multiple layovers just to save $50 on a flight. While those savings can be worthwhile, they can also lead to major inconveniences.
When you’re calculating whether a savings habit is worth it, you also need to factor in the time and stress involved. For example, having two layovers and rushing between flights to save $50 might not be worth the hassle. You need to consider how your time and comfort factor into the equation. Especially when you’re on vacation, enjoying the journey should be a priority.
What I Do Instead: Focus on the “Big Wins”
Instead of obsessively tracking flight prices, sticking to a rigid budget, and relying on every frugal travel tip out there, I’ve found a simpler approach: fly when it’s cheap. As Libby Kane from Business Insider shares, this is her “favorite trick to save money on travel”, calling it a choice that can save hundreds. She’s absolutely right!
Rather than complicating your travel plans, consider traveling in the shoulder season, when the weather remains pleasant, but the crowds have thinned and prices are much more reasonable. This shift alone can save you hundreds on flights, hotels, and more.
Naturally, this isn't always an option, and it's easy to suggest, 'fly when it’s cheaper.' We don’t always have the flexibility of when we fly; we fly when we have to. While doing your research and finding the best prices is crucial, I focus on what money expert Ramit Sethi calls the “Big Wins.” These are the major expenses, like flights and accommodation, where the savings actually matter. I’m happy to put in the effort to find good deals on airfare and hotels, but beyond that, I try to enjoy my trip without stressing over every little detail.
Frugality is a powerful tool to help achieve your financial goals, but it's not just about cutting costs. It’s about using all of your resources wisely, including your time and mental energy. People value their time differently (and this calculator can help you determine your value), and while some money-saving strategies are worth it, others may cost you more in time and frustration. For me, these habits have proven to be more trouble than they’re worth, and thankfully, better alternatives exist.
Illustration by: Angelica Alzona
