Buy now! 23 hours and 55 minutes until this deal expires!
Daily deal websites have become the norm in today’s consumer focused, instant gratification society. But do they aid in your frugal efforts or hinder them?
Yes…. and….. No.
Yes they can aid in your frugal efforts if used sparingly if you were going to spend the money anyway.
No for pretty much anything else.
Let me explain; I’m firmly in the mindset that unless I was going to spend the money anyway, then it isn’t worth participating in daily deal websites. My work colleague who sits next to me, however isn’t exactly on the same wavelength. Several times week he gets courier packages delivered to our work address and proudly shows us what “bargain” gizmo he has bought. These range from kitchen utensils that save very little time but add clutter and drain his bank account to yet another toy for his pets. It’s a complete black hole for his bank account.
I on the other hand use daily deal websites very strategically.
Last week I needed to my annual dentist clean, X-ray and check up. So off I went to one of the local daily deal websites and found exactly what I wanted at a dentist five minutes walk from my workplace, for 1/3 of the price of if I had gone to the same dentist without the daily deal coupon. This scenario is just common sense. I saved over $100 by doing this for money that I was going to spend anyway. It’s a no brainer.
See the difference?
My colleague signs up to the daily emails of three different daily deal websites, literally having hundreds of products and experiences thrown at him daily to spend spend spend. I on the other hand, don’t sign up to the daily emails and only check the sites when I’m in the market for something I was going to spend on anyway.
If used correctly, daily deal websites can definitely aid in frugal ways. But don’t get caught in the trap like my work colleague.