My Love-Hate Relationship: Online Deals

6 Apr

I started using Groupon & LivingSocial around the time they pretty much launched themselves.

Now, I love a good deal. Since I live in a large city, there are multiple deals every single day. Tempting? Yes. But I have found that with a little self-control, making use of these sites can be quite advantageous.

The Good

(1) Since there are multiple deals throughout the city, and there are a lot, I have pretty much decided to have these deals e-mailed to one of my junk e-mail accounts. Do I end up with a lot of e-mails? Yes. But I would rather do that than be annoyed that I missed something I actually wanted, as opposed to one of the five hundred spa treatments offered through the website.

(2) Once I actually find a deal I want, I make sure that I go through it in my mind a bit. Do I really want this? Can I afford this right now? Will I actually use it? If the answers are yes, I will generally buy it. For example, I rarely ever go to the movies—usually I only go once a year. At ten or more dollars per ticket, it’s just not worth it to me. But if I know there is a movie coming out I want to see and one of these sites comes out with a deal, I will probably purchase it. For $12, I just purchased a Groupon for a movie theater near me that includes two tickets and bottomless popcorn. I also keep an eye out for places I enjoy eating at or want to try since I really do love eating out—it’s like a hobby to me. For $15, I purchased a deal for $35 of food from a healthy food place that we really enjoy. These will be used for a “date night.”

(3) Of course I realized thisafter my last purchase, but my credit card, which offers pretty decent cash back rewards, has 15% cash back on purchases for Groupon if you go through their website. All you need to do is log into your credit card website, for example, and click through the links on their site. Once you do that, you’ll get the cash back—you won’t get the 15% just buying it without going through the credit card’s site.

(4) Sometimes you will end up with free stuff—I got a credit of $10 once because someone apparently used a referral link to LivingSocial that I had put out there. If all of your friends want to go in on a deal, many times they have it set-up so that if you refer three friends you get your deal for free. If it’s something big, you might be able to all go in on a deal, such as a vacation, and then split it up so that four people are paying the price for three people—making the savings even greater.

(5) I find that the sites have pretty good return policies. My sister bought something she could not use once and they refunded her money relatively quickly.

The Bad

(1) Having your credit card linked to your account makes it all too easy to make a fast purchase. If I am waffling on a deal, within a few seconds and a couple of clicks, I might have purchased it. Whoops.

(2) Constantly being bombarded with deals makes me want more things in the moment. For example, I had been talking about going zip lining and literally the next day I had an offer for zip lining in my mail box. I was so excited I wanted to purchase it right away. I gave myself a little time and instead I decided that it wasn’t the time to do it. Also, I stated that I am always on the lookout for restaurant deals. I find that often times it is the case that there will be nothing I want for months and then all of a sudden there are a bunch of restaurants I want to purchase deals for in a row. Sometimes I really, really have to resist the temptation.

What I Try to Do

I decided, after purchasing two deals within the same day after not purchasing any deals for awhile, that I will just make it part of my budget. One of the descriptors in my budget is a “miscellaneous” category. If I don’t have the money for it, then I am not going to buy it. Of course, if it’s for some big purchase that I have decided I am going to make, such as a purchase for a trip, I will have a little more leeway.

How do you feel about these sites? Are they forces of good or evil?

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