We got a big box of copy paper about two years ago, for free. We are still working on that box, so thankfully the paper has been free so far.
As for ink, I can set my printer to the less fine setting, so it uses less ink.
I only print coupons I will use, so I am not wasting ink on something I won't use later.
I figure I still come out ahead. I haven't crunched the numbers to see how long the ink cartridges last when I'm printing coupons. Our printer rarely gets used for other things, so coupons are the vast majority of the printer's workload.
The next time I change my ink cartridge, I'll try to keep track of how many coupons I get from it, and how much I save from them.
For a long time, no grocery stores in my area accepted internet coupons. Since the coupons started printing out with bar codes on them, I haven't had any trouble with stores accepting them. K Mart can be a little finicky about them, but they still have accepted them.