With the popularity of "deal-finding" on a meteoric rise, I wanted to reach out to a close friend to hopefully share some insight with you. Nicknamed "The Frugal Lawyer," he constantly scours the internet for great bargains on just about everything. When I need to make a major (or minor) purchase, I usually consult with him first.
The Frugal Lawyer Himself |
How and/or why did you get into deal-finding? What's special about your methodology?
When I feel like I get ripped-off,
it really bothers me. I can't really explain it, but it
gives me a knot in my stomach. So, I just try not to rush into any
decision and just do as much research as possible. For major purchases, I
just take my time and get a sense for that good prices are. Then, when a
great deal comes along, I feel comfortable to grab it quickly.
What websites do you use to find your deals and how often do you check them?
What websites do you use to find your deals and how often do you check them?
I use a couple of different sites,
namely DealNews and SlickDeals. I found dealnews first, and check it periodically
throughout the day. What really impressed me was that it doesn't just
list a sale. It tells you if it's the lowest price, by how much, and
compares it to times the item previously went on sale. Moreover, it has
an "Editor's Choice" section for the truly crazy deals. If
you don't want to check the website throughout the day, you can sign up for the
dealnews newsletter where they simply email you the Editor's Choice deals for
that day. It's a great snapshot for bargains over the last 24 hours.
ALSO, I rely on Amazon for a
majority of my purchases. If you don't have time to wait for a deal,
their prices are often the best. Though, there are ways to double-check
with Amazon as well. Did you know that prices for Amazon products can
shift daily? I often consult the ridiculously-named site: camelcamelcamel.com.
This website tracks prices for every product sold on Amazon and can give
you a line graph for recent price fluctuations. So, let's say you are
interested in a particular toaster. You plug the Amazon product link into
this website, and you see that it was $10 less last month. If you are not
in a rush, you can set an email alert where they will notify you when the price
drops again. It's awesome.
What's the one thing my readers can do to save money that they don't do already?
What's the one thing my readers can do to save money that they don't do already?
There
are tons of way to save money every single day. The biggest
thing is to avoid monthly fees whenever possible. People are also ripped
off every day by cable companies, cell phone carriers, and drug stores.
There are really interesting (and totally viable) ways to cut down on
those monthly costs, and I'd love to elaborate on them another time!
What's the single most successful deal you've ever encountered and why?
A couple of incredible deals come to
mind, and with them came some valuable lessons. My first crazy deal
involves Joseph A Bank, the notoriously deal-happy mens clothing store.
They advertise deals CONSTANTLY, and it's easy to lump them all together.
The trick is not to get suckered in, and wait for the "big one"
- when their clearance merchandise is marked off an additional 50%
off. These deals come around a couple of times a year, and you have to
watch for them closely. One day a couple of years ago I literally
stumbled into the deal when I was walking past one of their stores. When
I did some poking around, I saw a $1000 suit marked down to $200.
To this day, it's my favorite suit. And I still watch carefully for
that sale - it's also a great way to get $100 dress shirts for $20 (they make
great gifts for family - and people think you spent way more than you did).
How does your spouse feel about your
deal-finding. Does she support it?
Plenty of Deals to be Had at Jos. A. Bank |
I am exceedingly fortunate in this regard. My wife and I are both incredibly frugal, so we are 100% on the same page about the importance of savings. I am clearly more obsessive about it, but I am slowly converting her to the dark side of deal finding.
What is your "most memorable" deal?
My most memorable deal is also my
most shameful, but I honestly love the story. One day I was looking for
a new sportcoat on ebay. I found a really nice one in my size, and on a
hunch I clicked to view the other offering by this seller. Lo and behold, an
entire wardrobe was on sale! With no minimum bids! After an evening
of bidding against one or two pesky people, I walked away with two suits, a
sportcoat, three sweaters, and eight pair of fancy wool
slacks. I paid shockingly little money - I think I won one of the suits
for like $30.
After the bidding process, I
contacted the seller about consolidating shipping costs. She was happy to
oblige and was very polite. Unfortunately, she elaborated a bit about the
ownership of these garments, and it quickly became clear that this was an
estate sale (i.e. the previous owner had passed away). Some people
find this story to be very troubling, but I proudly wear these garments as a
badge of honor for the best best deal I have ever encountered.
Any other parting suggestions/advice for my readers?
Any other parting suggestions/advice for my readers?
Do your research in
advance and be ready to pounce when you find that deal. I really enjoy
helping people find deals, but many people are so hesitant to pull the trigger
and miss out on the great ones. It can be frustrating to point people towards
one deal after another, only to watch each deal sell out before that person
summons the courage to make the purchase. Figure out the specs you need,
decide if refurbs are OK with you (hint: they should be), and grab that deal
before it goes away!
----------------------------------------
We look forward to having the Frugal Lawyer's contributions on this site. If you want to give him any suggestions on future posts, don't hesitate to email me.
Until tomorrow, everyone!
-Charm City Traveler
----------------------------------------
We look forward to having the Frugal Lawyer's contributions on this site. If you want to give him any suggestions on future posts, don't hesitate to email me.
Until tomorrow, everyone!
-Charm City Traveler
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