Avoid Daily Spender’s Remorse From Daily Deals

May 26, 2011 - Kristin
There’s no denying that daily deal websites like Groupon, Living Social and others give you access to great prices on a variety of products and services. But how can you make sure you don’t overspend on things you might not have purchased anyway or don’t even end up using, like one consumer recently featured on AOL’s Daily Finance website?
 
A few simple steps noted in the article can keep your spending — even for really good deals — on track:
  • Try to focus your deal purchasing on needs instead of wants. That way you know you’ll actually make use of it.
  • Set a budget for deals, and stick to only spending that amount. Then turn off the alert you receive for that week or month once you’ve reached your limit.
  • Work on cutting back your deal purchases with a friend. You can both encourage each other to save money and find less expensive activities to do together that don’t require deals.
  • Take a moment to step back before buying. If you stop and think about the offer you see, you might realize you don’t need or want it after all.
  • Ask yourself if you’ll be glad in the future that you made the purchase, or if you’ll wish you hadn’t.
  • Replace your spending habit with something else you enjoy — a small allowance for purchases at a store or restaurant you know you always like or a fun activity to do in the time you used to spend looking for and using deals.
It’s great to get a one-time-only good deal, but it’s even better to develop good financial habits you can use forever.

1 Comment:

  1. July 5, 2011 - chinwe

    these are extremely helpful tips towards saving money especially in social situations when all of your friends are shopping and you may feel compelled to buy something as well.

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