Financial Fitness with Alan Akina - Saving in Moderation

19 Oct 2011 · 1 min

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1:22

In this short Financial Fitness segment, Alan Akina warns viewers about the emerging problem of "daily deal addiction" driven by the ease and excitement of sites like Groupon and LivingSocial. He explains that while these platforms can offer substantial savings, they also risk overspending if not managed carefully. Akina offers four practical tips to stay financially fit: (1) cut down on deal subscriptions to limit exposure; (2) split deals with friends to share costs and benefits; (3) set a specific budget for daily deals and adhere to it; and (4) focus on purchasing only what is needed, avoiding impulse wants. The segment emphasizes moderation, disciplined budgeting, and mindful consumption to ensure that savings truly translate into financial health.

Well, saving is a good thing in moderation.
Yeah, Alan Akina explains more in this morning's Financial Fitness.
Good morning, gang. The recent popularity of websites like Groupon or LivingSocial have been a smash hit. We've benefited from massive savings on everything from dining out to teeth whitening. Yet with the positive comes the negative. Because of how easy the deals are to purchase and the excitement of double-digit savings, They can create a troubling trend that we call the daily deal addiction. So if you're spending more on your deals than on your mortgage, here are a few tips to get yourself financially fit. Number 1, cut down on subscriptions. There's so many daily deal sites out there, your email box is probably flooded with offers and temptations. Choose your favorite and pass on the rest. Number 2, split the deal with a friend. There are lots of deals that feature 2-for-1 opportunities. Number 3, set your budget for daily deals and stick to it. Remember, you save no money if you don't use the coupon. And finally, number 4, be smart. I know a good deal is hard to pass up on, so I suggest that you stick to just what you need and avoid the wants. Each deal will cost you money. For Wake Up Today, I'm Alan Akina. See you on Thursday.
Thank you, Alan.