Addict. That is one word to describe my former self when it came to daily deal sites. I watched them like a hawk. I signed up for emails and I even followed countless blogs in case there was a new site that I had not heard of that someone else perhaps had. I made a purchase every day, sometimes multiple. Then, like a ton of bricks, it hit me…I was obsessed.
I spent all day looking for deals, checking sites and ignoring other obligations. I noticed my online school work began slacking. The meals I cooked were more of a microwave dinner style, versus a real home cooked meal. My friends only heard from me when I was posting deals on Facebook. Worst of all, my bank account was suffering tremendously. Money I had earned from cash back purchases, mail in rebates, and survey sites was gone. I had begun using money I had saved up. It was then that I realized, a lot of my "great purchases" were not so great, since a good portion of them had expired and I never even used them! I spent all my time hunting down great deals and no time actually redeeming them.
It wasn't so much the fact that the deals were bad, or the sites were growing old. It was more along the lines of, all the money I had been saving, was wasted on deals that I was never able to use. I also purchased a ton of stuff I would never use just because I could get it for 50% off. I learned after watching every single day for months, that quite a few of the deals come around again. I decided to limit myself to checking one site a day, different site each day, for a month, just to see how much stuff I really needed or would actually use. I learned there were a lot of deals I could pass up. There were a few that caught my eye that I ended up purchasing for a gift for friends or my son. Other than that, if I wasn't missing much. I'm not completely soured on the idea of daily deal sites; I'm just choosing to only search them within days of needing a gift. My family appreciates the home cooked meals and my bank account is no longer on E.
*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you'd like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.