Some 1.6 billion coupons were redeemed in the U.S. in the first half of 2009. That’s up 23 percent compared to last year. Who is turning all those coupons in to save on purchases? Odds are it’s a suburbanite who is fairly well off.
News link: here
posted on Saturday, June 19th, 2010 at 1:31 am
48 Responses to “Why the Rich Clip More Coupons Than the Poor”
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Poor people can’t afford newspapers and scissors.
Poor people are bad with money.Duh.
You mean people who are wealthy tend to be more responsible?
39% compared to 35% doesn’t seem all that significant of a difference.
Point 3 is the strongest, methinks.Brand name soap: $2.00Brand name soap with coupon: $1.50Off-brand soap: $1.00
this is why he’s rich
or they just keep Passing Over Opportunities Repeatedly
The reverse, I’d say. People who are responsible tend to be more wealthy.
The first billionaire I ever met was famous for picking up all of the soda bottles and cans from the building we were in in New Hampshire (no redemption laws) and taking them over the border to Maine (most pricey redemption laws) on his way to the airport in Boston to return to his home in Seattle. I’d be shocked to find that he got more than $2 or $3 for the bottles he collected, but he couldn’t help himself. Scrimping for pennies and getting the most value for your dollar was too deeply embedded into his personality.
Sounds like he grew up in the depression. A lot of people from that generation are a but fanatical about saving things
So people who have money are smarter than people who do not have money…? I never would have expected that!
So if a person’s poor, it’s never their fault? Sounds like a typical Democrat.
my household income is $13,000/yearwe clip coupons, but we just don’t go out and use every coupon we get, thats why the poor don’t have a higher number. the majority of coupons i personally see are for snacks and sweets, stuff we dont buy.
come on guys, only a sith deals in absolutes
You need resources to seize opportunities. The wealthy have more resources.Think of it this way: Imagine you have $50 in your wallet, and you go shoe shopping for some work boots. You can buy the crappy brand for $40, and they’ll wear out in a few months, or you could save up for the $100 nice boots that will never completely wear out and can be cobbled for a reasonable price.Further, capital tends to work for people if they’re smart with their money. If you have a lot of savings, you can afford to invest your cash or at least get a high-yield savings account to use money you don’t need right away, and the interest scales up with the amount you have to put away.Opportunities and capital seem to blur into each other to some degree.
Dan, that’s an unfair assessment. As another poster briefly put it, it’s more likely because of the generation he grew up with, or more so the time period. So many people assume straight off the bat that once you’re a billionaire, you can spend all the money you want and stay that way. What those people don’t realize is these people didn’t become billionaires by living extravagant lifestyles. They saved and invested.This probably explains the stark difference between my grandmother and my aunts. My grandmother invested well during the crisis in her home country and made millions over a period of 10 years. Now the aunties and my uncle are fighting for every single penny they can nab from the inheritance and are acting as though the money’s already theirs. They spend and spend away their own savings on traveling and jewelry but when they need money, they beg my grandmother, or they beg my mom who’s always working.Note: I didn’t include my mom in the same group as my aunts. People say she’s always the most sensible one. Even sadder part is my mom refuses to tell me anymore stories about the aunts because she knows that my already low opinion of them as complete douchebag losers would plummet further.
Because my Armani suit only cost $5,000 with a coupon
This was my thought when reading the article, too.Generics are usually cheaper than name brands, even with coupons.
The rich stay rich because they keep doing what they do, ditto for the poor.
Yes, but a 4% difference is hard to claim as statistically significant difference, so it’s hard to say that income is really a determining factor in whether a household uses coupons or not.
You obviously haven’t met many sales people.
Duh. A lot of people have money because they’re frugal.
Or time
They’re better at managing their money and life in general, hence they have more.
The rich likely do. The middle class who pretend their rich don’t. I know a guy worth a few million and he will shop for the best deals, clips coupons, and pours over every bill. He certainly shops at wallmart and at ‘everything for a dollar’ stores here. In contrast We had a receptionist who worshipped Robert Kiyosaki. She would never shop at either and bought groceries from whole foods, bought a lot of $5 lattes and over spent on hand bags. One lives in a 3000sq ft house over looking the river with a Porsche in the garage. The other rents in the burbs and drives a kia.
NEWMAN!!
Your username fits you well.
Coupons are keeping my ass in Gucci.
Smarter with money. I have known plenty of rich simpletons. Making money was the only thing that they were good at, as some kind of a savant thing. I have also known plenty of brilliant intellectuals who were poor.
I mostly agree with you, but I don’t think your points encompass all people that don’t use coupons. You cannot get around the fact that there is a definite culture difference between *some* wealthy and *some* poor. That difference being that those that are frugal with their money and understand how money works will likely be in a better financial situation that someone who doesn’t have or care to understand how it works and is simply an ignorant consumer.There’s a lifestyle difference between some people that inherently gets them to either poverty or prosperity. There’s a reason some rich people want to keep their money, they are just penny pinchers. Read "The Millionaire Next Door" by Thomas Stanley where he describes some of the characteristics of some of the richest people. One of them is that they are frugal almost to a fault.Yet on the other side of the spectrum, the demographic with the most money spent on the lotter is those with a household income less than $10,000 [1]. One could say that that is just because they need the lottery, why would a rich person want to gamble to win more money? Well its also an argument that these people could use that money more wisely that to put it somewhere where it is likely to just disappear.It’s just as much lifestyle as it is any of the three figures you pointed out. Also, I live in kansas city, and there is a decent grocery store 5 minutes (10 minutes walking) from anywhere, including in the "ghetto" where I play basketball.[1] – govinfo.library.unt.edu/ngisc/reports/lotfi …
DING DING DING we have a winrar.Coupons are not favors sent to save you money. They’re marketing tools, sent to advertise and spur sales.
@daveisferaA 0.1% difference can be statistically significant depending on the data and the analysis. Significance of a difference and magnitude of that difference are not necessarily directly related. (See, for example, the sign test–in this test the significance of a results is completely independent of the magnitude)
I am certainly not poor and Wal-Mart is my favorite store
Coupons like "Buy one get the second half off" or "33 cents off when you buy 2". If someone doesn’t have the space for two packs of TP, they’re not going to buy the second one.
Small/Tiny real breasts are better than big fake breasts imo.When they are able to do implants that LOOK, FEEL, and MOVE like real ones, I won’t give a *****. Until that day, fakies suck
I clipped coupons once, but I didn’t use most of them because the generic brands were still cheaper and afterwards I ended up with a lot of stuff I didn’t need because it discounted. For me shopping is a lot cheaper without coupons.
*****. Stop regurgitating hte "everyone is outto get me" websites that you waste your life reading.Over the course of a few weeks, prety much every item you may but in a super market has a coupon at least once. Zip-Loc bags are very good sellers, yet they have coupos regularly. Coca Cola sells pretty well last I checked, and you can easdily find coupons for Coke products.
what point in new hampshire involves going through maine in order to get to boston?
she could probably get a coupon for a boob job.
no one buys coupons, i get them for free in the mail every day. no scissors? fold and tear.
I know a family who clips almost every coupon they find, even things they don’t usually buy and thinks they are saving money. They are idiots. But I also know plenty of people (both higher and lower income) who clip only coupons they need. So I wouldn’t generalize by saying every rich person does the former but there are some people who are unwise about spending with coupons.
Maine is the same as most states that have deposits. 5 cents. Now, if he was going to Michigan, he’d get double.
Probably the most accurate reply I’ve seen. I love reading articles about poverty and how middle class and upper middle class rant on how it’s lifestyle or poor choices. This latest recession should have made it clear that anyone can be forced into poverty. There have been plenty articles over the last year showcasing families that had good paying jobs, and then were laid off and due to a tight job market couldn’t find work to pay the mortgage and food bills. Now you have a family of four living out of a Honda Civic.
It isn’t really. But a statistical tie is significant when the common perception is that one would do it much more than the other.
Anything more than a handful is a waste.
So if a person’s Republican, it’s always his fault? Sounds like a typical poor.
You forgot to add blatant racism into your rant. Please try again.
<insert dumb accusation with no evidence HERE>