Daily deal sites: Beware these five things

Daily deal sites offer substantial discounts on everything from restaurant meals and kids' clothes to car detailing and getaways – if you're careful and read the fine print.

5. Deals may be a farce

Mike Spencer/The Star-News/AP/File
Delly Mellor, of Delly's Deals, thumbs through a binder full of coupons that she carries on her grocery shopping trips at her home in Wilmington, N.C. To check out a daily online deal, use the Internet to find out what the item normally sells for.

Just because an offer is advertised as being a deal doesn't mean that it truly is a deal. For example, if you're considering a deal for a discount on merchandise, do a simple Internet search to see what the item sells for at face value. You may find that an advertised 40 percent savings may be for an item whose price has been inflated 50 percent.

For the most part, daily deal websites can save you oodles of money. Just be sure you know exactly what you're buying, how much it would cost otherwise, and that you can use it before it expires. Always be sure you purchase deals for items that you would otherwise buy. If you get into the habit of making impulse purchases on items you don't really want or need, you could find yourself rapidly falling into debt.

Have you had any issues with daily deal websites?

David Bakke always looks for ways to shop smart and save as much money as possible. He shares his finding and tips on the website, MoneyCrashers.com.

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