Four questions before you buy a Groupon

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Groupon's success--like that of so many notable companies--came from delivering the right idea at the right time. Launched at the beginning of a recession, when restaurant-goers and massage-receivers everywhere were tightening their belts, Groupon gave them just what they wanted: a cheaper way to enjoy all of their favorite things.

In Groupon's wake, countless companies adopted a similar model: discounted deals for local and national goods and services, usually offered once a day. These days, it's fairly common to find your Inbox peppered with these offers, and you may also receive them on Facebook from excited friends and family who are eager to earn the referral bonuses.

These deals can be hard to resist, but your savings account will thank you if you answer a few questions before you buy.

1. Would you buy it without the deal?

It's important to be coupon savvy, whether it's a 75-cents-off "bargain" on Progresso bread crumbs or a $25 mani-pedi offer. Before you click the button, stop and ask yourself: Is this a product or service I would buy anyway?

Daily-deal sites can spur us to impulse buys, so it's critical to consider whether you really need the deal. If you're between hairdressers and your split ends are spoiling your polished appearance at job interviews, a good deal on a haircut may make sense. On the other hand, other deals are bound to seem more optional. After all, just how "detailed" does your car need to be for most occasions?

It may help to keep a list of services you need and wait for a deal to pop up that appears on that list. When a deal arrives that's not on the list and you're tempted to buy it, remind yourself that you can't save on something you weren't going to buy in the first place.

2. Will the fine print spoil the bargain?

That big "Buy Now" button is the largest thing on the page, and, when you're ready to drop the hammer on a mani-pedi deal, it may seem the most important.

However, each business that offers a Groupon can add its own restrictions. A restaurant famous for pancakes, for example, may limit its deal to lunch or dinner hours, or an online offer may be available to new customers only.

It's annoying to learn after a purchase that you can't use the deal the way you wanted to. Best to read the fine print up front to make sure you know what you're getting.

3. Will you remember to use it?

Believe it or not, remembering to use a deal coupon can be a challenge for some.

If you're the sort of person who has every friend's birthday noted in your iPhone calendar, you may not need to be concerned. If, however, you've found a Best Buy gift card in a drawer a year after your aunt gave it to you as a birthday gift, this concern may be worth noting.

Lots of customers buy deals with the intention of using them "sometime." Then six months go by and the deal expires. Don't let that happen to you.

Still, all may not be lost if you forget to use a deal. Consumer laws have caused Groupon, LivingSocial and other players to adjust their terms for expiring deals. Groupon's terms now state that you are still entitled to the face value of the deal even after the expiration date. For example, if you pay $10 for a bakery's deal that would get you $20 of cupcakes, your coupon will still be worth the original $10 you spent.

Still, it's not really a deal unless you use it the right way.

4. Can you afford it?

It's the most important question: Can you really afford that "deal?"

Buying decisions are often both financial and emotional. An amazing deal at a restaurant or salon can be doubly seductive when you're feeling low. It's easy to tell yourself that you "deserve" a treat when you're worried about something else in your life.

But if you're struggling to cover bils, that $25 mani-pedi is not a deal you should consider. If you don't have a fully-funded emergency fund, preferably held in savings accounts with high interest rates, you probably don't need to worry about the frivolous things just yet. Instead of spending money on daily deals, consider other ways to save money online.

Groupon and similar sites feature lots of enticing offers, but only you can determine what's a good deal for you. Thoughtful use of Groupon and other sites can make these offers a sensible part of your saving and spending plan.

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