The savings adds up to big spending

Published by admin on 28 04 2011 // News, Personal Finances

“All these savings sites are costing me money.” It is a quote from a message board.

With discount websites like Groupon, Deal Find, TeamBuy, it is becoming increasingly enticing to save online. But as one blogger wrote, all this discounting ends up having people spend more because it’s deal after deal on different websites.

Saving Money

Everything from cookies to clothes is on the cheap, but rather than saving money, one woman spends more.

“Is anybody else buying something every day?” wrote ToshRad in an online forum. “These deal-of-the-day things are so good that I am buying stuff just because it’s cheap. I don’t even eat at some of the restaurants I’m buying from yet I am loading up. I guess I’ll have stuff as gifts for people.”

Everybody loves a discount, we know that. But the headline “Up to 90% off restaurants, spas, wellness, fitness” probably doesn’t help people spend less. You might save money on one purchase, but the thrill of deep discounts is a shopaholic’s worst nightmare and you’ll find yourself going for deal after deal.

It leads to the question: am I really saving money on something I wouldn’t have bought anyway?

Technically, yes, you are.

Sure, for $20 you get a $50 credit at a store, but if you never shop at the store are you really proud of the savings? It is actually a better savings to not buy in the first place.

If there happens to be a deal at a store you shop at on a regular basis or something that suits your needs the instant you see it, then there is nothing wrong with buying. It is when you are hooked into getting something just because it is discounted that could have you run into problems.

In theory, the discount websites can save you money – if you stay away from them!

PaydayAdvanceUK.co.uk, Jeremy B.