There is a lot of lingo when dealing with coupons and I know it can all get very confusing (which the weekly Coupon 101 Series will help you out with this:) )
Why Use Coupons Properly?– Other then because it is the RIGHT thing to do!
- Learning to use them the right way will help you save more money. You will know how to maximize your savings
- You won’t have to deal with legal issues(YES there are legal issues and penalties from using coupons fraudulently)
- Companies will continue to put out coupons
- Using coupons the right way will save money on grocery prices rising
- Some stores give issues about using legitimate coupons, using fraudulent ones just makes them not want to accept the ones that are legit.
What is Coupon Fraud?
Using coupons in a way that the manufacturer intended. This includes using multiple coupons on 1 item, photocopying or scanning coupons, using them on products the coupon is not intended for. There are serious penalties to coupon fraud.
Some examples of coupon fraud:
- Using a coupon on a product that the manufacturer did not intend it to be used on (different size, quantity, product)
- modifying or changing a coupon in any way, this can be changing the date, value ect of a printable coupon, creating your own coupon
- photocopying coupons
- Using more then 1 coupon on 1 item, only 1 manufacturer’s Coupon can be used per item
- Using counterfeit and fake coupons
If you are unsure if a printable coupon is legitimate you can check the Coupon Information Corporation’s list of counterfeit coupons here.
Penalties for Coupon Fraud-There are serious penalties for coupon fraud
- Losing your privileges of shopping at a store that you are caught using coupons fraudulently at.
- Longest allowed prison sentence is 17 years-a normal prison sentence ranges from 3-5 years
- Highest allowed fine is $5 MILLION dollars-the fine amount varies but is around $200,00 dollars
Now you ask Why should I care about coupon fraud? Well because it affects YOU, and not just a little bit.
How it affects YOU!:
- Grocery prices rise-companies are losing money and need to make up for it, the stores are also losing money when they accept a counterfeit coupon because they are not reimbursed.
- Using coupons at the store can become difficult because stores become suspicious of all coupons
- Manufacturer’s stop putting out coupons
- The values of the coupons will be lower
To find other Money Saving tips and deals visit Luxury Living Frugal Style.