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Use Groupon and reap the benefits of social group buying

For the uninitiated, Groupon, along with a host of other recent start-ups, offers fantastic deals on local fare, services, accommodations, etc. All you have to do is sign-up for the daily emails or download the app. You will then receive daily deals in your inbox or on your phone.

Basically, each deal is at least 50% off. They are able to secure that price through the power of group buying. So many people have to buy the deal in order for it to be valid or offered. Once that threshold is met, everyone receives a fantastic deal!

To try to convince you to stop overspending and save money, I’ll outline just how much I saved recently.

How I saved $148 celebrating my wife’s birthday

My wife and my mother share the same birthday. No man should have to endure such a trial. The first year that we were married, we ended up celebrating my mother’s birthday on said day. Obviously, my wife wasn’t too keen on the idea. So I created a national holiday in her honor that we celebrated the next day.

National Erina Day, my wife’s birthday celebration, has grown each year since then. Friends and family no longer wish her a Happy Birthday. Rather, they all wish her a Happy National Erina Day. Due to a number of circumstances, we ended up celebrating National Erina day a month and a half late this year. I’m kind of a failure at life.

Knowing that I had to make the day memorable, I searched for just the right activity, gift, etc. The problem was that I had a very limited budget. Enter group buying power. I subscribe to both Groupon and LivingSocial.

Social BuyingAnniversary Inn – LivingSocial

We stayed at Anniversary Inn our wedding night and haven’t been back since. So I was ecstatic to see a great deal show up in my inbox.

Normal Price – $199

Paid – $69 + $25 upgrade = $94

Total Savings – $105

Wabi Sabi Sushi – LivingSocial

We love sushi and are always looking for a new place to go. So again, I was happy to see a deal on a new sushi joint not far from where we were headed that evening.

Normal Price – $30

Paid – $15

Total Savings – $15

DF Dance Studio – Groupon

With our special evenings, I try to do something new or different from the usual. We can always do dinner and a movie, but birthdays deserve something better. So I treated us to dancing lessons. Please promise not to tell the guys at the shooting range that I went salsa dancing. I just can’t take that much ridicule or laughter.

Normal Price – $56

Paid – $28

Total Savings – $28

So instead of spending $285, I spent $137! And all I had to do was subscribe to a couple of emails.

Where to find more information on group buying

The most well-known daily deals site is Groupon. Google recently tried to buy them for $6 billion and they said, “Yeah right! We are worth like a bajillion dollars.” FYI, watch for that IPO in the coming months.

I also mentioned LivingSocial, which is a large competitor to Groupon.

Wanting to cash in on all the fun, Google Offers will be available sometime in the next several months. This service is meant to complement Google Places, but will still offer some great discounts. You can read more about it and get some screenshots over at just debuted a new social buying business unit. You’ll be able to search for coupons in your area. As it just launched, you may not find much in your area just yet.

Your local newspaper or news site. Many local newspapers and news sites are launching their own version of daily deals. So visit your favorite local news source and see what they have to offer.

And of course, you can always just search “daily deals” using your favorite search engine.

Do you have a great story or example of saving money through Groupon or a like service? Please share below.

Tags: , , | Filed under Saving Money, Featured

One Response to “Use Groupon and reap the benefits of social group buying”

  1. Groupon is great but it can lead to buying things you don’t need if you don’t have good self control.