Archives for March 2011

Deal sites are popping up like weeds lately.  Seems like every other day I hear about a new daily deal site or 72 hour sale site or sample sale site. I get emails every day from sites boasting huge savings on an item or service that I shouldn’t pass up.  

Obviously I am a pretty big fan of daily deal sites. I mean, I post most every day the greatest deals I find that relate to moms and kids.  I have purchased my fair share of deals and sign up for just about every new deal site that I come across. Not only do I purchase deals but then I post them here, tweet about them and tell my friends to go get in on these deals. I have to say it is a bit thrilling to get a steal of a deal that you couldn’t have gotten otherwise, but I have to ask myself, are these sites really offering good deals or is it just a perceived deal? Are they really saving you money? The answer is both yes and no.  I have to ask myself a few questions before I whip out the debit card and get a gift certificate to a kids clothing store for half off:

1. Is this something I would have bought anyway?
If the answer is no then it might not be a worthy purchase.  It may just be an additional cost coming out of my budget that I am only convinced I need because of the sensation of getting a good deal.  However, if it is a deal that I can put towards something I need and would have purchased at a higher price anyway, then I am actually saving money.

2. Will I be able to use this before it expires? 
This one actually pains me because I have had a couple deals expire on me before I got to use them.  Most of the deal sites now have policies that, if their deals do expire, you can still use them for the price you originally paid. Make sure you read the fine print on the deal and the site’s policies!  Not all of them are doing that, and I lost out on deals I had paid for. Ouch! That meant it wasn’t a deal at all but cost me even more.  I suggest you put the expiration in your calendar or sign up for email reminders for every deal site you buy from. They will email you before they expire. Oh and be sure that you are getting the emails to your inbox and not your spam folder. 

3. Can I pay cash for this?
A deal is never a deal if you have to put it on credit because you can’t afford it right now.  I know most of us don’t like to hear that but, unless you pay it off right away, the interest will end up making you pay more than the deal saved you.

4. Would I possibly be able to find a better deal somewhere else?
I have been tempted to get a few deals only to remember that the shipping cost will make it more than I would want to pay for it (again read the fine print).  Or, perhaps I could find the item cheaper online or at another store.  Sometimes the deal is a gift certificate to a certain store for half off but at that particular store items are priced really high and so you get very little for what you paid.  Each of those scenarios may negate the savings of the “deal.”

Part 2 of this post will be on when these deals really are too good to pass up, what to look for and when to buy.  I will also share some tips on getting credits so that you can get in on these deals for free.  Stay tuned!