Farnoosh Torabi Talks Pros and Cons of Groupon, LivingSocial Deals

Posted on May 16, 2011

Psych Yourself Rich by Farnoosh Torabi

Farnoosh Torabi, author of Psych Yourself Rich, talked to Chris Wragge on the CBS Early Show about the deals available at sites like Groupon and LivingSocial. Farnoosh says one big problems with these sites is that people purchase the coupons and then fail to use them, so they end up wasting money. This leads to an obvious shopping tip - make sure the the coupon is one you are certain you are going to use before purchasing it.

Farnoosh says one in five buyers waste the voucher. She says the sites and their ticking clocks are very good at getting people to impulsively buy the coupons. Take a look:

Photo: FT Press

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