Who said that this fashionista doesn’t know how to be fiscally fit!  As comes with the journey of entrepreneurship you have moments of feast and moments of famine.

Right now I am having a bit of a famine.  Being broke (or what I like to call Temporarily Cash Flow Restricted) sucks big time.  HOWEVER, the one thing that has saved me during this time of fiscal prudence are gift cards, Groupons and Living Social Coupons.

Let me explain.  When times were feast-ful, I loved taking advantage of all of the social coupons.  They are truly great deals for the consumer (but not so much for the businesses unless they know how to leverage it as I explain in this post).  I didn’t go hog wild, but I definitely got deals that spoke to me and my interest.  Let’s run down the list:

Living Social

• The Sarge Bootcamp Program- 1 month of bootcamp (I purchased 2): $25 each: 81% savings ($130 each)
• BCOR Bootcamp- 1 month (I purchased 2): $20 each: 86% Savings ($140 each)
• Jordin’s Dance Paradise- 3 dance classes per voucher (I bought 2): $32 each: 73% Savings  ($120 for three classes so $260 total)
• SpaWorld- 1 day pass access to all facilities (bought 1): $19.00 50% savings ($38)
• SKIN Cosmetic Dermatology: Complete Facial(bought 1) : $40 60% savings ($100)
• SweetGreen- $40 worth of food (I bought 1): $20- 50% savings ($40)

Groupon

• LiveMocha French Class: $10(50% savings)  ($20)
• Nordstrom Rack Creadit: $25 (50% savings) ($50)

Total Spent: $288

Regular price: By my rough calculation, the total of all of these services would be about $958

Total Savings: $670

Yahhhhs honey. That is my type of party.

As a result of these deals plus a few visa debit cards that I received over the holidays, I was able to purchase groceries, have a few nice lunches out and maintain an active fun and fitness schedule.  These types of things provide balance to my life and as an entrepreneur (as well as a fearless adjunct business professor), balance and recreation are needed for fun and stress reduction.  Having these non-cash  treats at my disposal has also helped me to not feel completely down and out with my current tight-wad ways.  Money is energy in motion and when you don’t have it, you are impacted by it (or the lack of it I should say).

Now there are some who will say “well you should have saved that money in the first place”. To this I say:  Its better that I saved money buying things that I ALREADY use”.  It’s a coupon and that is #fiscallyfit.

See, that’s the key. Its only savings, if you already use the deal items on a periodic and/or regular basis. Other than that, you are just spending extra money.  The ability to experience LIFE does amazing things for one’s psyche, especially when things are on the tight side.  Using these deals now have allowed me to save the cash that I do have and NOT FEEL DEPRIVED, which is very important for my Money Personality. Now, as I work and wait for the next round of checks to roll in next month, I will enjoy my bootcamps, dance classes, healthful salads and fro-yo and get a facial in time for the summer.

Here are some tips to help you bargain shop using these “social coupons” in a fiscally fit way:

• Purchase deals for what you already use: if you eat out and your favorite restaurant comes on the list, buy a deal if you have the extra cash to do so.  If the restaurant that you have been dying to try comes up as a deal, get it.

• When the deal ends and the vouchers are made available: If it’s something like a gift card or store credit, make sure to use it by the expiration date.  If it’s a service, make sure you read the fine print.  If you want to use it right away, make sure you call to schedule an appointment as soon as that voucher drops. Otherwise, save it for a rainy day. Just make sure that you call and schedule the use at least 1 month before the coupon is to expire. Deals for spas, bootcamps and the like tend to get booked up quickly and peter out as it gets closer to the expiration date.  For one deal that I purchased, I am not able to get in until May 2011, but that’s fine by me.

• Make sure you read the fine print before your buy: Reading is fundamental. A deal may be perfect, but then you see that you can only use it one special day or that you have to call and make a reservation or something like that. Make sure you understand the terms and conditions BEFORE you click the “Buy It Now” button.

• Good Service: before you buy, make sure that the company had and established reputation for good service PRIOR to the release of the deal.  These social deals tend to inundate and overwhelm the businesses, so you want to be sure that they can handle your patronage.  If they are already shaky on customer service or delivering what’s promised, move on to the next deal.

• Recognition: When you use your deal and receive good service, write a positive review. These are important for businesses!

• Oh this is not a social coupon tip but a general one: As an entrepreneur, visa/amex/mastercard gift cards are great lifesavers. If people are purchasing you gifts and ask what you would like, opt to receive these instead. Trust me.

I’m salty that I missed out on the $10 for $20 Amazon Groupon deal. As we speak, there is a delicious laser hair removal Groupon at SKIN in Georgetown that I am salivating over, but alas, can’t muscle up the change to get one.  Next time, Girl Next time.

What’s the best Groupon or Living Social that you have taken advantage of so far? Please share!

This entry was posted on Saturday, January 22nd, 2011 at 4:55 pm and is filed under Fashionista Files, Fiscally Fit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.