It’s hard to believe, but there are shoppers out there who don’t know what a coupon is or how to use one effectively. During these tough economic times, more and more people are learning the ins and outs of effective couponing and sharing that knowledge with their friends and family.

At it’s most basic a coupon is a discount offered on the regular price of an item. Sometimes coupons can be applied to sale prices, further reducing the final price at the register. Traditionally coupons have been printed on paper. They are found in newspapers, magazines, newsletters and fliers. There are special companies that do nothing but print and mail out collection of neighborhood coupons in cities all over the country.

Today many coupons come in electronic form and can arrive via email, by visiting a website or even via text message or smart phone download. Electronic coupons usually need to be printed out for use in local establishments. Online retailers usually offer coupon codes that are entered during the online checkout process, since there’s no way to hand over a printed coupon. Coupons received on cell phones sometimes use a code to be entered at the register or may just require the phone to be swiped across the scanner the way a printed coupon would be.

The most important thing to note about any coupon is its expiration date. No matter what form it takes, an expired coupon is pretty much worthless. The other important thing is to read the fine print. How much of a discount and how many items must be purchased can dramatically change the final savings. Likewise knowing whether coupons can be multiplied or used with other coupons are important to saving as much as possible.