DENVER -- Forget Tupperware parties. The current hot trend is coupon parties. Instead of spending money, partygoers learn how to save money.

The goal of a coupon party is not just saving a dime or a quarter on an item, but learning and then layering those saving strategies.

"We were astonished at how much we were saving every single month that we decided we need to share this with everybody," said Chrissy Pate, co-founder of BeCentsable.net.

Pate and another mom, Kristin McKee started Be Centsable.net, after they were able cut a monthly shopping bill of $800 to $350. They did this by knowing when and how to use coupons, store incentives, and rebates.

"We teach them how to save time by using virtual filing systems. You don't cut and clip your coupons and that really helps because it doesn't have to take you hours to do this," said Pate.

Basically, you take the coupon section from your Sunday papers and just stick them in a folder and put them away. BeCentsable puts together coupon parties to teach moms and dads alike how to use an online database to know when to use the coupons and see what other sales are out there that week.

"The information was available but it was scattered all over in 100 places. So we brought it into one place on our site. We found resources that worked the best for us and we're now sharing them with everybody," said McKee.

McKee said teaching coupon collectors the tools to look for deals is key to getting the best product for you buck.

"So you can use coupons and store incentives together to get the items at the lowest price possible," said McKee.

So here's how their system works.

"You don't just take your coupon out of the Sunday paper and go use it, because that's what the manufacturer wants you to do," Pate said.

Instead, Pate said, look for the sales. Then check to see if there are any coupons for those same sale items. Then, try to go to a store that gives you double coupon credit. Even better: combine the manufacturer's coupon with a coupon offered by the store.

Another lesson: If a coupon is good for an entire line of products, match up the bar code, not the picture.

"A lot of people take that coupon in and they match up the picture. The manufacturers know that and they put the most expensive item on there," Pate said.

Did you know if an item is buy one, get one free, you can often still use two coupons because, technically, you're still buying two products.

And experts said use your coupon wisely.

"If you have a coupon for $5 off a $20 purchase, use that coupon first while your total is over $20. Then use your individual product coupons to lower the total even more," ABC's consumer correspondent Elisabeth Leamy said.

As for people who say they don't time to clip coupons and look for sales, Pate said, "Does it look like we have time? We're frantically racing through the store with two kids!"

One more time saver: instead of clipping coupons, save the Sunday circular. When you need a coupon for a certain product, there are Web sites that will tell you circular the coupon is in.

There are some coupon parties coming up in the Denver Metro area where you can go to to learn more about BeCentsable.net. Coupon parties are $25 per person.

Feb. 24, 2009
06:30 p.m. - 8:30 p.m.
Lone Star Steakhouse & Saloon, 305 Pavilions Place, Brighton, CO 80601
E-Mail prokop.centsable@gmail.com to register

February 24th
Homestead Subdivision (near I-25/Arapahoe)
Centennial, CO 80112
1-3 p.m.
E-Mail centsable.marnie@gmail.com to register

March 16, 2009
6:30 p.m. - 8:30 p.m.
Adams County Regional Park & Fairgrounds 9755 Henderson Road Brighton, Colorado 80601
Proceeds benefit 4H Club
Email prokop.centsable@gmail.com to register

Learn how to throw a coupon party on Good Morning America's Web site.