smart spending

Think twice when dealing with daily deals

You may blow off the deal
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Approximately 15 percent of all daily deal site coupons go unused, according to a recent study by Yipit, a site that aggregates deals from daily deal sites.

"That is money you are literally throwing away," says Kay. "It may be a great price, but if it's not convenient in locale, a store you frequent or want to try or the timing is bad, the value-proposition has gone out the door and you've wasted your money."

Consider one Yelp reviewer's comment on buying a Groupon for a local shoe store: "The fact that I bought a Groupon knowing that (this place is) not my favorite shoe store speaks to my Groupon addiction."

If you get caught letting a deal expire, you can still use the coupon for the amount you paid. And if you really don't want the coupon at all, you can try to resell it on such sites as DealsGoRound and Lifesta -- which both charge a commission fee -- or CoupRecoup, which is currently free.




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