Beware of "Spaving": How to Make the Most of Online Deals Without Overspending
Coupons have come a long way from Sunday circulars. And for consumers stretching to make ends meet, they are as indispensable as ever. With online codes, browser extensions, and money-saving apps, there are more ways to find significant discounts at any time. However, how good the deals are still depends on the day.
According to a recent study by SimplyCodes, Friday is the best day for consumers to save money while shopping online. The site assessed coupon release patterns in marketing emails from 30,000 merchants between March and July. As payday approaches, there is a notable uptick in coupon activity, especially for women’s clothing, skin care, and alcohol. Roughly 52% of coupon codes are released between Wednesday and Friday, before the weekend lull, when fewer new coupons are sent out. On Friday alone, the number of coupons released jumps 19%.
Beware of "Spaving"
The lure of a good deal can also lead to excessive buying habits and high-interest credit card debt if you aren’t careful. Consumer savings expert Andrea Woroch warns of "spaving," or spending more to save more. This can lead to overspending and financial troubles.
Before you buy, consider whether a deal is really worth it. Consumer analyst Julie Ramhold suggests using coupons strategically. For example, if you’re ordering a few items that are already on sale and you’re far from reaching a free shipping threshold, it might be worth using a coupon code to drop the shipping cost to something like $1.99 rather than filling your cart with more items to get "free" shipping.
How to Make the Most of a Deal, Without Spaving
If you are planning a big purchase — or any purchase at all — sign up for a store e-newsletter and mobile alerts, or follow brands and stores on social media to get a coupon for in-store or online savings. Woroch advises using price-tracking browser extensions such as CamelCamelCamel or Keepa to keep an eye on price changes and alert you when a price drops.
Then, save even more by applying a coupon on top of an already discounted item. Some stores even let you use more than one coupon on the same order. You can search for coupons by store name to find deals quickly using a deal aggregator like CouponCabin.com or RetailMeNot.
Conclusion
In conclusion, Friday is the best day to save money while shopping online, but it’s essential to be cautious of "spaving" and overspending. By using coupons strategically and being mindful of your spending habits, you can make the most of online deals without falling into financial trouble.
FAQs
Q: What is "spaving"?
A: "Spaving" is spending more to save more, which can lead to excessive buying habits and high-interest credit card debt.
Q: Why is Friday the best day to save money while shopping online?
A: According to a recent study by SimplyCodes, Friday is the best day for consumers to save money while shopping online, with a notable uptick in coupon activity and a 19% increase in coupon releases.
Q: How can I make the most of online deals without overspending?
A: Use coupons strategically, sign up for store e-newsletters and mobile alerts, follow brands and stores on social media, and use price-tracking browser extensions to keep an eye on price changes.
Q: Can I use more than one coupon on the same order?
A: Yes, some stores allow you to use more than one coupon on the same order. You can search for coupons by store name to find deals quickly using a deal aggregator like CouponCabin.com or RetailMeNot.
