Picture by KeyAnna68

Group buying is becoming a fad in today’s consumer society. It is a great way to save money for products and services you’d normally have to pay full price for anyway such as dental treatment, hair treatment or dining out. A daily deal that is sure to grab your attention is available and you’d be spoilt for choice due to a wide variety of products, services and holiday accommodation offered at irresistible prices.

Despite the huge savings offered in group buying opportunities, one must be discerning when choosing the array of products, services and travel accommodation available. Here are 8 factors that you should look out for before jumping on a deal that takes your fancy:

1.      Need Versus Want

There may be a time when you get tempted by a deal on a product or service because of its attractively low price. That sinfully delicious artisan chocolates cost just $49, a 71% discount off its retail price. Now, you could either treat yourself to the whole chocolate package or keep it for a friend’s birthday. Now, do you really need to get that chocolate? Can you do without it? Are you sure you’re going to buy it as a gift? If you weren’t planning on buying it anyway don’t buy it for the sake of buying.

2.      Be prepared to be swarmed with emails

Once you’ve signed up with a group buying site, you’d be swarmed by emails. These deals are updated daily so that means you’ll receive daily emails notifying you of new products. This product notification is a form of advertisement on the part of the group buying company, giving its clients exposure in the hope of widening the consumer base.

3.      Block out dates for holiday accommodation

If you intend to purchase a holiday accommodation offering massive discounts at a dream location, ensure that you read the fine print. Some dates or days are blocked out such as Fridays to Saturdays and public holidays as well as the peak season. Purchase only when your leave from work is flexible.

4.        Be prepared to pay for your own airfare

That tempting holiday accommodation offer does not include airfares. Do consider your budget when you include airfares and transport transfer from the airport to your intended accommodation.

5.         The urge to jump on a deal

Since the deal for a product or service is on for only a short period of time, a decision to purchase must be made quickly.  Any impulsive shopper can be lured into this consumer trap as the deals are hard to resist and is available for only a short time. Also many shoppers can be addicted to group buying when they keep on purchasing one product or service after another as the offers seem too good to be missed.

6.       Deals of products or services are not always of the best quality

The deals advertised always claim to offer the best food, product or service. However, this may not be the case as different people would have different tastes and expectations. My advice is to always perform a Google search of the businesses offering the deals and look for the retail price offered. If you are looking up a restaurant, checking out its reviews will be helpful to get an idea of the quality of food served and its services.   

7.         Be prepared for an addiction to a certain lifestyle

Group buying can be addictive as you may think that you are making huge savings each time you jump on a deal. Bear in mind that you are NOT making any savings if you don’t intend to purchase a particular product or service on offer. If you have had a good experience with a particular service on offer, you’d want to experience another similar service or try another service. For example, you may be satisfied with a hair treatment service that cost you just $69 and would love to try out a facial treatment this time since you can be treated from top to toe using group buying for a steal. You may tend to notice that you have gradually adopted a different lifestyle from before, preferring pampering service which was considered to be a luxury prior to your group buying experience. Purchasing a product or service which you don’t really need is an additional expense that can take a toll on your wallet.

8.         Be prepared to be harassed by sales representatives

Group buying benefits consumers as well as business in the sense that the former gets what appears to be a good deal while the latter hopes to get leads that may translate to loyal patronage. With this in mind, be prepared for a sales pitch after your service. I have had the experience of trying out a deal that led to the sales representative talking me into signing up for a series of sessions for a ‘good’ deal.  This isn’t considered a good deal if paying for a series of sessions have not been on the cards anyway. It just means additional expenses. Also be prepared for upselling of related products after the service. This is just part of business tactics to make some profits and to secure loyal patronage.

Group buying is indeed a way of making huge savings if you use it to your advantage. However, be mindful of the above-mentioned pitfalls of group buying. Not all that glitter is gold. Be an informed and discerning shopper and take advantage of good deals the next time you see a deal on a product or service you’ve been looking for.    

Picture by newsusacontent

Group buying has become a revolutionary online selling strategy that offers incentives to both businesses and consumers. It’s a win-win situation because consumers can purchase meals, services or vacation packages at a fraction of the retail cost while the vendor receives a huge number of customers (through exposure on the site) who otherwise may not have known about the business. These customers may become loyal patrons based on the quality of service or products received for the first time.

Group buying websites such as Groupon, LivingSocial, Codo and Spreets work on the same principle in which a large targeted pool of consumers need to be reached in order to make the deal effective to those who have signed up for it.  

Here are some advantages of group buying:

1.      You can make huge savings

Group buying can help you save money. Products and services available on group buying sites are discounted up to as much as 70% off its retail price. That is indeed a bargain! For example, you can get a 3-month gym and fitness package for just $99 instead of the usual whooping $384.

2.      Choose from a wide variety of products and services

Group buying websites offer an array of products such as exercise equipment to skin care and services such as dining, airport parking, grooming and dental services and accommodation. You can choose a product or service based on your current needs and interest.

3.      Combine shopping with social network

Participating in group buy gives you the opportunity to extend your contact network with new friends who are keen on the same products or service and interact within the group. You get to share opinions and give recommendations on a product or service of interest on its sharing portal via Facebook.    

4.      Time saving

Use group buying comparison sites such as All the Deals to see a list of all deals of the day by various group buying sites in your country. Having a list of deals on one site saves you time in the sense that you don’t have to open one site after another to look for and compare deals. Buying in groups also saves your time as you don’t have to trawl the internet for cheaper options and good offers since group buying companies and participating merchants ensure that the best offers are made available to their consumers.

Group buying is a novel way of purchasing products and services at a steal. You can make massive savings especially for grooming and health services as well as holiday accommodation that would otherwise cost you lots of money. Before you jump on the deal, read the fine print and the expiry date of the offer to see if there is ample time for you to use the coupon.

In the next post, I will share on things to look out for before you participate in group buying and factors to consider. In the meantime, happy budgeting! 

Thinking of going away on a short break? Here’s a deal not to be missed. Spend 4 nights at a romantic 1 bedroom villa and enjoy daily breakfast, a candlelit dinner for 2, a 2-hour spa and bask in the sun at the beautiful Balinese beaches a stone’s throw away. That’s an amazing 51% savings. Honeymooners receive a complimentary cake and flowers for that added personal touch to mark your start to a romantic holiday away from the hustle and bustle of the city.

Check out this link for more information on this exciting offer at Groupon.com.au.  

This offer is for a limited period only.    

Picture courtesy of http://herebali.com/villas-in-seminyak/villa-samuan/

Picture by Sarah Graham

We are faced with a volatile economy which propels us to keep watch on every dollar we spend. This doesn’t mean that acquiring new items are at a standstill. Keep that precious cash in your wallet for basic necessities and get involved in the treasure hunt. Swapping parties and events are the in-thing these days especially so in the looming global crisis that threaten to change the way we spend.

Swap parties are novel ways to update your wardrobe without spending a dollar. Organised publically or privately, swap parties involve a group of like-minded people who come together with one common purpose – to exchange clothes, accessories, books, toys, exercise equipment…..the list goes on.  Fun and interactive, swap parties have caught on in many parts of the world.   

If you’d like to host a swap party for a change, here are some tips you should consider to make your party a success:

1. Focus on a niche area

The list of things to exchange is inexhaustible. Narrow down the items you’d like people at your party to exchange such as clothes or accessories or both. Leave kitchenware or books for another exchange session. Focusing on niche items for exchange will avoid disappointment amongst participants. For example, if every participant knows that only clothes are to be exchanged at the party, they will bring just clothes. Other participants will not feel short changed if they know what items they can expect to exchange at the party.

2. Plan your guest list

Depending on the niche items to be exchanged, you should plan your guest list based on interest. For example, it doesn’t make sense to invite your neighbour who is not at all interested in exchanging used or unworn clothes. Decide if you’d like to include the opposite gender at the party. If you’d like to include your participants’ spouses, there should be an equal number of participants from both genders to exchange clothes with. For instance, it doesn’t make sense to invite two male colleagues to your clothes party consisting of 10 females.

3. Invitation

Inform your guests about the swap party by explaining how it works and state clearly what your guests are expected to bring. Give them time to gather items they’d like to get rid of. Three to four weeks is an ideal time for them to look through their wardrobe and the entire house for specific items they’d like to exchange. Remind your guests to bring clothes hangers to display clothes they’d like to swap and warn them not to be late for the exchange to take place. Also make clear to guests that items to be exchanged must be in good condition in the sense that they can’t be stained, torn, frayed at the edges or faded. It is only fair for guests to bring used items in good condition to be exchanged with another in the same state. 

 4. Presentation

Create space for your niche item presentation for example, the living room or study room. Collect clothes and hangers and other accessories brought by your guests and hang them in conspicuous places for display. Check each item for any flaws such as stains, tear or over-wear.

Wait till the last guests have arrived before inviting everyone to the display area. It is only fair that all guests view the display area and pick what they fancy at the same time. It is best to display items in categories. For instance, clothes can be displayed according to size in one area of the room and bags in another. Fold sweaters and scarves neatly and place them on a table for viewing.

5. Create a store-like atmosphere

Make a long-mirror and changing corners available. If no screens are available, ensure that a bedroom or two are left unoccupied for guests to try out the clothing. Remove any clutter in the room and create as much space as possible.

6. Food and music

You can either have a pot-luck swap exchange party by getting each guest to bring their own food as well as items for exchange or alternatively, prepare easy meals on your own for the event.

Some ideas for easy-to-prepare meals are:

·            Frozen finger food that can be heated up within minutes

·            Salad

·            Bread rolls with butter and jam

·            Sandwiches

·            Swiss rolls

·            Cheese and biscuits

Prepare food that is non-messy and easy to nibble.

Guests can sit down, eat and mingle while you set up your display room.

7.  Rules and Tokens

Print out swap rules for each guest and provide each one with swap tokens based on the number of items he or she has brought. If two people want the same item, use this suggestion to be fair and to avoid any squabbles. Place one each of your guest’s swap token in a hat, and draw the lucky swapper. 

8. Bags

Remind each guest to bring his or her own bag. It is indeed stressful for the host to look into everything including nitty-gritty details like supplying guests with bags. By having each guest bring their own recyclable bags will also minimise waste.

9. Take turns to host

Make this swap event a regular one such as once in four months. It is fair to take turns to play host and have fun planning and preparing for the next interactive event.

10. Recycle

Donate left over items to charity such as St Vincent De Paul of Red Cross or any other charitable organisation you know. You can be assured of the thought that someone else will find the items useful.

If you’re interested in public swapping events, check out the list I’ve gathered below:

Australia, NSW

Swap Party at Taylor Square

Australia, Melbourne

National Swap Day  

USA

Swap events

Clothes Swap Meet Up

London

Swapaholics Meet Up

Swapping parties have become popular as people become more conscious of their budget. It is indeed a fun contemporary way of acquiring chic and brand name clothes without spending a cent. Swap with a good intent by reducing waste and cutting down the amount of garbage at landfills.

If you have been to a swap party, we’d like to hear your story.    

Courtesy of filmofilia.com

The movie, ‘The Joneses’ is not your ordinary family movie. In fact, it has satirical undertones that left me thinking way after watching it. The movie uses the idiom “keeping up with the Joneses’ to drive home a fundamental message on the effects of consumer culture and how comparing yourself with others is tantamount to mental torture and physical ruin.

In this film, the Joneses belong to a family cell placed in a neighborhood by their corporate employers to sell a lifestyle. Their instructions are to flaunt these items publicly to create envy amongst their neighbours. They are provided with all the latest clothes, electronics, culinary delights, beauty products and athletic gadgets. Kate Jones proudly announces to her neighbours at a party that the beautiful ear rings she is wearing have been given to her by her husband Steve, ”just for being Tuesday.” Their end goal is to entice their neighbours to buying the items they publically advertise.

This movie unmistakably shows the power of advertisement and how it can influence others into succumbing to it even at the expense of jeopardising a relationship and running a life. 

Let’s look at the consequences of keeping up with the Joneses:

1. Lack of Joy and Contentment

Undeniably, a new gadget, vehicle or house provides instant gratification and a certain level of happiness. However, such thrills wear off. Gadgets and vehicles become obsolete as new and supposedly better models are introduced into the market. We usually desire to live in a bigger house, one in which we cannot afford to pay.  Comparing ourselves to the Joneses often leads to a lack of joy and discontentment with what we have. There will always be someone we know owning better gadgets, vehicles and bigger homes than us.  Instead of comparing ourselves with the Joneses, we should show gratitude to the things we already have. That way, we will be more content with our lives and value the people who mean a lot more to us than our consumer goods.

2. Running into debt

The obvious conclusion to a life lived in keeping up with the Joneses is escalating debt and mounting worry. Maxing out your credit card, missing your credit card or mortgage payment and puting off your auto loan as a result of spending more than your monthly income and buying things you can’t afford to pay in the loan run lead to devastating consequences. 

The result is anxiety and frustration in living a life of deceit. The deceit lies in the portrayal of the image of prosperity or that of an upper middle class happy family and the reality is one that is being taunted by the consequences of extravagant spending.    

3. Deterioration of family relationships

Your money worry can lead to destruction of your relationship with your loved ones.  Sinking in an abyss of debt can cause more pressure and hence frequent and heated arguments. This will affect stability of the family as the structure is weakened by pressure and anxiety which can be devastating.

So what are the money lessons that can be learnt from the movie “The Joneses”? 

Lesson #1

Advertising has become so sophisticated and powerful in creating our desire for products. Don’t fall into the consumerism trap! Every product advertised is not going to change your life! Learn to switch yourself off from advertisements by switching channels during programme intervals and reflecting on the intent of advertisements you come across in your daily life.

Lesson #2

Is it a need or a want? Do you need the latest mobile phone model? Do you really need that ipad? Weigh out your needs and wants and learn to be content with what you have. If your television or laptop works, why would you need a new one?

Lesson #3

Don’t feel compelled to buy something just to keep up with or to impress your friends and neighbours! Build up your nest egg and emergency funds instead of accumulating debts. You will be happier debt free rather than spending beyond your means to show-off and create a false image to others. Don’t deceive yourself. Go with like-minded friends who encourage you to save and live a life of contentment and gratification. Always show gratitude for what you have and refrain from envy. Stay away from neighours or friends who live to flaunt their possessions.

Lesson #4

Avoid the electronic department of stores so as not to get enticed by the goods. There are always new models of gadgets on display, screaming out for your attention. If you tend to be an impulsive shopper, stay away from department stores or the malls.

Lesson #5

Reflect on this paradox. The more you have, the more dissatisfied you’ll be. Hence, the more things you want to possess. Indulge in non-shopping activities such as nature walks, reading, sport and other creative activities that are fulfilling such as jewellery or soap making, painting or playing an instrument. 

Lesson #6

Relationships lose their value when lavish gifts are used to rekindle them. This is seen in Larry’s marriage that has languished in celibate monotony for years and his attempts to enliven his relationship with his wife, Summer, by giving her lavish gifts for no reason.  He buys himself a red Audi convertible, new clothes and sunglasses to give himself a new look which matches his new lease on love. Sadly, however, the game the Joneses play takes a toll on Larry’s wallet and eventually his life. The Joneses who are representative of advertisements (in this case, walking advertisements) are out there to entice you to spend, spend and spend and to leave you wanting more, to awaken new flames of desire as soon as the last go off.

‘The Joneses‘ is well worth watching simply because it bears an overpowering message of the unhealthy and devastating effects of consumerism. With regard to advertising, there are indeed concepts pertaining to perception versus reality and wants versus needs. The idea of the dysfunctional family is also prominently portrayed in the movie. This brings back to the point of deteriorating relationships and the weakening of family structure due to an obsession with extravagance. What are your thoughts on the movie?