Coupon Terms

I made a post this week and used the Phrase "Cashed Out" and it caused a bit of confusion.  My life has been immersed in the couponing world for over 10 years and I often forget that terms are not known to everyone.
I'm going to make a list of terms and abbreviations that I use to help you out as a resource guide.  If there are others that I use that I don't include fire me off a message and I'll gladly respond.

CASH OUT-  I look at all the points that are sitting in loyalty cards as money.  While they only have a value within their loyalty card, there is a cash equivalent.  When the points are redeemed that is referred to as  CASHING OUT. For example, 20 000 PC Optimum points has a value of $20.  Upon 'cashing out' redeeming the points, I take $20 out of my budget and place it either on debt or in my vacation fund.

SCOP  (SCANNING CODE OF PRACTICE) Almost every store in Canada practices this but some need to be reminded since it is a loss to the company.  Always watch the register. If the shelf or flyer says the item is $5.99 and it rings in as $6.25 or any amount higher, you get the first one for free and all the others at the correct price.  If the item is over $10, $19.99 on the shelf and rings up as $20.50 you receive $10 off the item and should only pay $9.99 for the item.  If you end up getting the item for free it is a surprise.  Take that money from your budget and flop it on your DEBT it is FREE MONEY

PM- Price Match   No Frills, Giant Tiger and Walmart Price Match.  If you see the exact item advertised cheaper at another store show the flyer or the FLIPP app to the cashier and the first 4 items are at the competitor's price.  This will cut down on racing from store to store when shopping  No Frills no longer will PM to drug stores

BOGO- BUY ONE GET ONE FREE  Be careful with this.  There are always items that this is truly a remarkable deal, but most of the items are cheaper to buy 2 when there is a sale in the flyers.  If you are using coupons during a BOGO only one is permitted since only one item is being purchased

MIR- MAIL IN REBATE  Sometimes items have a MIR form on the back.  When the bar code and receipt are mailed with the form 4-6 weeks later the company sends you a cheque for a predetermined amount.  I then deposit this money back into my bank account since the money came from the budget originally.

NO NAME- Store brand of item vs the brand name.  Our Compliments is the No Name brand vs Lays

ONE COUPON PER TRANSACTION- Some coupons have written on the back that only one coupon can be used per order.  Not many actually say this, but if they do break your items into 2 transactions if you have more then one item with that coupon. 

ONE COUPON PER PURCHASE- Oh this one confuses people.  This means that one coupon can be used for each of the items.  For example, a coupon to save $1 off of a yogurt stating one per purchase you can use 15 coupons if you have 15 yogurts.

STACKING-  Back in the glory days of couponing, as long as each coupon had a different bar code some stores would let you use multiple coupons for one item.  This has pretty much been stopped

AM- Air Miles

GC- GIFT CARD  I try to use Gift Cards in my budget it helps me stay within the budget and it also helps earn me more points a few times a year when there are promotions with bonus points with purchase

OOP- This one stands for OUT OF POCKET  There are times when a deal is so good that only the tax is what I need to pay for, and that is referred to by couponers as Out of Pocket, the  money actually spent on the item.  For example, I had a $2 off coupon for shaving gel last year and it was on sale for $1.99  I just had to pay the taxes (taxes are ALWAYS on the item price before coupons) so OOP I paid 30 cents per can.  SCORE

CO51- Check Out 51 is a Cash Back app on your devices.  Receipts are uploaded and when $20 is hit in the account you can cash out and have a legit check mailed out to you

SDM- Shopper's Drug Mart

SS- Super Store

GT- Giant Tiger

PC PRESIDENT'S CHOICE 

It pays to be frugal.  Join Guess Who's Cheap on Facebook and my EBOOKS by Meghan Savings on Amazon