Tracking coupons

Are there any reason for tracking the money you save by using coupons or the loyalty cards issued by groceries stores and the like?

If there are then what would be the best way to track them?

Just wondering if it's worth the effort or not.

Jeff

Reply to
JSS
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Jeff - usually the first question I ask for similar situations is "Will knowing/takaing the time to set up and track this sort information help me in any conceivable way?". Conceivable runs the gamut from tax savings ("Gee, I better keep track of this $10,000 cash gift because it's tax deductible, and that is clearly "YES, it's worth it") to something like, ("Gee, should I keep track of the income I find from picking up pennies in the street" (which actually might be reportable income if you're 100% honest, but let's assume you won't report that so the answer might be clearly "No, it's not worth it".)

So, your question is somewhat in the middle of the spectrum, no?

Maybe, as Mike L. pointed out, you're anal retentive (btw, as Mike knows, so am I) and you're simply 'curious' about such things without any real reason. So, that might be sufficient in your book. Maybe you wish to see if your time in clipping coupons is worth it if you can assign a time value. Maybe you even subscribe to certain magazines thinking you're getting more in coupons than you pay in subscription fees in which case it probably *is* worth it to you...it's all up to you!

Reply to
Andrew

If one merchant offers you a widget at $30 less a $5 discount, and another offers you the same widget at $25 with no discount, how much have you saved?

Savings based on card amounts are meaningless.

Reply to
Clark W. Griswold, Jr.

$30 if you don't buy the widget. ;-)

Regards,

Margaret

Reply to
Margaret Wilson

Whether it is worth the effort is up to you. You could track them by creating a split transaction for every purchase involving coupons. In the split, show the price without the coupon, and then the coupon savings as a negative amount to the "coupon savings" category.

Reply to
Mike B

IMHO, it's hard enough keeping track of what you spend. Why would you want to keep track of what you didn't spend? Because that's what coupons and other discounts are: money you did NOT spend. When you buy something at Staples for $10.00, and later see it for sale in Office Depot for $11.00, do you make a note of THAT dollar?

Perhaps you're just curious about how much benefit you actually get for your coupon clipping/filing/schlepping/redeeming effort. In that case, use a pencil and paper. I pay attention to how many sheets of toilet paper I consume, but I don't use Quicken to keep track. Quicken isn't for EVERYTHING....

Doug

Reply to
Doug Ellice

A lot of discussion, I'm a little surprised with it all. I did enter one transaction in Q and all I did was entered the total amount of coupons, etc.as an neg no. in a splint transaction. Not sure how it would effects any reports that I run. I used to put the amount in the memo field when I enter the transaction. I think I'll continue to do it that way.

You said that you pay attention to how many sheets of TP you use. Do you keep track of how much you have in the closet or do you keep track of how you use each sheet and what you use them for. Never mind, too much knowledge. ( I think need help sometimes) LOL.

Jeff

Reply to
JSS

Better just use the memo. If you're going to account for coupons you use, you have to first recognize them as income, and post them to an asset account, then spend them later. This is, of course, nonsensical.

It also elevates your "costs". When you buy that steak for $5 cash and use a $1 off coupon, you are not really spending $6 on groceries....

A coupon is simply a merchant's way of offering you a price. Once you accept his offer, you're spending whatever you're spending.

Doug

Reply to
Doug Ellice

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