First Person: Savings, Discounts and Daily Deals

Yahoo Contributor Network

In this economy, there is a vast majority of people looking for deep discounts on nearly everything they buy. Some people are doing it because they need to make their dollar stretch further than it has gone in past years while others are capitalizing on the opportunity of creative marketing by retailers. Either way, this has generated a new trend and an abundance of websites that are dedicated to couponing, discounts and daily deals that have become somewhat an addiction for many people who like to save.

While Daily Deal sites have a substantial savings, the products are often aimed at frivolous spending in order to obtain those savings. I am an avid couponer and I ultimately look for savings on everything I buy. I almost never pay full price for something and in some cases I pay nothing at all so you would think that I am the primary target of these sites. Well, at one point I was the text book version of a "Daily Deal addict" and was close to the need of an anonymous group to attend.

I couldn't wait to jump online, check my email and zip over to my favorite sites within five minutes of climbing out of bed in the morning to see what today's deal would be. It was almost like Christmas everyday online. However that became very short lived. The basis of daily deal sites promoting products at a reduced price for a period of only 24 hours and in most cases in limited quantity, means that I must make a quick decision in the hopes of spending X to save X. I have found that I was actually spending more money because I couldn't resist the good deals. So how is that a deal at all? The problem is, although I was saving a lot of money off of the retail price, I was spending more money from my budget than I would have liked to. I found some fantastic items at killer prices but let's face it, the savings was always items I really don't need. So, after a few guilty purchases and about a year of this sad routine, I came to the conclusion that something is not a very good deal when it actually requires me to spend unwarranted money to begin with. If it is something I am specifically looking for and I get it at a discount that is different. For now, these sites will continue to advertise great items at extremely deep discounts for someone else.

*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.


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