[jseliger]

I remember a study estimating that the time value of clipping and using coupons averages out to about $7/hour. I don't remember the methodology and can't find the study (anyone else seen it?), but, even if you could be substantially above average and "make," say, $10 / hour clipping coupons, I still doubt it would be worth it for many people.

The other danger: you see a coupon that excites a desire for a product you didn't previously think you wanted. Unless you have unusually tight control over yourself, you'll find your buying more stuff (http://paulgraham.com/stuff.html) you don't actually need.

Reading Kevin Kelly's quasi-blog Cool Tools: http://www.kk.org/cooltools/ also offers this danger, but it also very occasionally makes me find something I've always wanted and didn't realize, like the Best Book Stand Jasmine: http://jseliger.com/2010/09/04/highly-recommended-the-best-b... , which I use almost every day.