Categorized | Budgeting, Expenses

Good Shopping Habits Make Cents

I use a lot of different sites to try and snag deals. I am a chronic researcher and find it hard to make purchases without researching them for weeks, sometimes months, on end.

I find the deal using:

Slickdeals – One of the main competitors in the deal finding segment. They post the main, or “slick”, deals on the front page. They have coupons listed, as well. But the bulk of the deals are posted in the forums. From free magazine subscriptions to FAR (free after rebate) electronics to heavily discounted baby food… they have deals for everything. Link

Fat Wallet – Just like slickdeals, they have deals on everything in their forums. Slickdeals and Fat Wallet are notorious for disliking each other, but more often than not, deals are shared across the sites (it IS an open forum, after all). One of bonuses of Fat Wallet is the cash back program. For example, one of the participating vendors is Lenovo and the cash back rate is 3%. If you buy a laptop for$1,000 (which is probably valued at much higher if you are buying it off of one of these deal sites since they frequently stack coupons!) you will get an additional $30 back! Link

On Sale Doesn't Mean it's a Deal

I research the company using:

The Consumerist – If the company is notorious for bad products or bad customer service, I want to know. And on the flipside if the company consistently offers amazing service, they may be worth the extra buck. Be careful, though, as the Consumerist is sometimes very sensationalist. Read with common sense! Link

Reseller Ratings – Good for online retailers which is very important with the emergence and domination of e-tailers in some segments. Is the site legit? Check reseller ratings! For example, Newegg.com has a 9.74/10 lifetime rating. I think they are a safe bet.  However, 1SaleADay.com has a lifetime rating of 3.85/10. Sometimes when I find an exceptionally low price on an item it becomes clear why it is so cheap after looking up the e-tailer. Also, the fact that they list 6 month ratings and lifetime ratings lets you see how the company is trending  (up or down).  Link

Comparing Store Reviews

I then research the product using:

CNet Reviews – I find the reviews on this site are usually pretty thorough and balanced. I have looked up a few items that I already own and they were pretty accurate. Link

Epinions - If you would rather get feedback from users instead of professional reviewers, I like to look products up on epinions. The key is distinguishing between bad reviews and bad products. ie “Laptop broke after my son spilt water on it!” Bad review. “Hard drive failed on three separate replacement models.” Bad product. Link

Amazon - Amazon is so popular that any item you want to purchase you can find on there. And any item on there that is common enough has usually been reviewed by users. Same thing applies about distinguishing between bad reviews and products, though.
And, of course, Consumer Reports – Who could forget them? Sure, I may not agree with their choices all the time. But they have rallied against extended warranties for years. And being that I worked at Best Buy, that is a noble stance they take. Link

Professional and User Reviews

Conclusion

When all is said and done doing these three steps will save you money and frustration in the long run. The key is to get the best product for the most competitive price NOT to get a similar product of shoddy quality at the best price.

Feel free to suggest sites that you use! I love to be an informed shopper :D

Get to know the author!

MLR is passionate about saving for his future while maintaining a high quality of life. He currently resides in the North East, has a wonderful girlfriend, adopted the cutest puppy ever, and works for a Fortune 500 company in the Supply Chain department. If you would like to converse with MLR, you can find him on Twitter at @MyLifeROI.


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4 Comments For This Post

  1. Roger Says:

    I’ve heard of several of these sites. I’ve only ever used Amazon, but that was a pretty good experience.

    [Reply]

3 Trackbacks For This Post

  1. Money Hacks Carnival #60: The File Your Tax Return Edition Says:

    [...] Life ROI presents Good Shopping Habits Make Cents posted at My Life ROI, Getting the Best Return On Life, saying, “I use a lot of different [...]

  2. 107 Things That Make Good Financial Cents | Good Financial Cents -Jeff Rose Certified Financial Planner and Investment Advisor, Carbondale, Illinois Says:

    [...] Good Shopping Habits Make Cents. Researching your purchases could wind up saving you a small fortune in either purchase price or repair savings. Through the combination of deal finding sites, company research tools, and product review sites, you can narrow down your intended purchase to the product that makes the most sense. [...]

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    [...] Penance: Two Hail Marys and this article from MyLifeROI on smart shopping habits. [...]

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I'm MLR. After graduating from college debt free, I decided to write a blog encouraging people to adapt responsible and sensible personal finance rules.


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