Saving Money with Groupon and Living Social Daily Deal Sites

Another fun and thrifty money saving tip from us here at GetOutOfDebt.org: daily deals!

If you’re looking for a great way to find fun things to do and still save money you may want to check out daily deal sites such as Groupon and Living Social.

I have become addicted to these websites – always excited for the next day’s deal. When I wake up in the morning, usually the first thing I do (aside from hitting my snooze countless times) is open up my Groupon and Living Social apps to see what new and exciting deals are up for the taking.

For those unaware of these internet gems, they are daily deal sites that feature deals in your local areas. Usually these are for things to do, places to see or restaurants to eat at. The deals usually last for 24 hours and can sell out if terribly popular.

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For example, in my area, Groupon offers today a featured deal of $49 for $375 at a local dentistry for an exam, X-rays and cleaning. When you click on a deal it will show you the price, value, discount and amount you save. For this particular deal if purchased you would save $326, that’s 87%! You can see how many have purchased the deal, your time left to purchase and a detailed description about the company.

On Living Social today there is a deal for $35 which will give you $75 to spend on custom framing. That’s 53% savings! One of the things I love about living social is if you share that you’ve purchased this deal on a social networking site, such as Facebook and/or Twitter, you have the possibility to get your purchase for free if three or more people purchase the deal by following your link.

I could actually benefit from both of these deals. I need to visit the dentist and have a gorgeous art print that needs framing. If I was in the position to do so, partaking in both of these deals would really save me a lot of money. I will usually research the company before jumping in on a deal to see if it is a company I want to visit.

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One thing that is easy to do with these deals is think “hey that seems great!”, purchase it and never use it. Prime example: my paintball experience Groupon from a few months back. At the time it seemed like a great idea and paintballing is something I’ve always wanted to try. However, as time creeps by and I’m getting closer and closer to the expiration date, I realize that was $16 I just lost. It is always important to check the expiration date on the deals to see how long you have to use them. I will print out all of my deals and put them into a time sensitive order so I know what needs to be used first.

It is also important to keep in mind, like with any deal, what is realistic to purchase and what isn’t. I often snag deals that include local breweries, wineries and restaurants. Every now and again you’ll see a big name brand store like Amazon.com or Barnes and Noble offering 50% off of their products but for the most part it is local stores and restaurants offered. I love this aspect of these sites because it not only allows me to save money but to also try and revisit local places I usually grow to love.

Groupon began in 1998 in Chicago, Illinois and has been flourishing every since. They now have multiple offices in the U.S and according to their website, provide services in more than 500 markets and 44 countries. Living Social is based out of Washington D.C. and is claimed to be the “fastest-growing company in the social-building category” according to their website.

Both of these sites provide daily deals, surprises and savings. Be on the look out for other daily deal sites that are popping up all over the place. Please comment with your favorite daily deal sites below!

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