Financial Fellow

Written by J.P. Wicklein

     This past week I learned of a new coupon site, Groupon.  Due to its unique approach Groupon offers deeper discounts than many other coupon sites. 

How Groupon works

     Each day Groupon features a single, purchasable coupon for a local restaurant, retailer, or other business.  Here are several examples of recent Groupon deals within Chicago:

·         Cubs vs. Marlins:  $84 coupon worth $165 in tickets

·         The Denim Lounge:  $50 coupon worth $125 in purchases

·         Chicago Fire Soccer Team:  $20 coupon worth $45 in tickets

·         The Lyric Opera “Faust”:  $49 coupon worth $123 in tickets

·         Swirlz Cupcakes:  $20 coupon worth $40 in cupcakes

Currently Groupon offers coupons to local business in over 35 cities. 

The twist

     Unlike other coupon sites, you aren’t guaranteed to receive the coupon you choose.  For a coupon to become valid a predetermined number of people are required to purchase the offer.  Once that threshold is breached, your credit card is charged and the coupon is deposited in your email account the following day.  If not enough people sign up for the offer you won’t be charged.

How to receive Groupon offers

     You can view daily Groupon coupons for your city simply by logging into their website.  Or, if you prefer you can sign up to have coupons emailed to you on a daily basis.