Peta Muller reported this story 9 November 2009.
Online shoppers are going ballistic in the lead-up to Christmas with US retail giant 1saleaday opening its doors for business in Australia.
Tens of thousands of Australian shoppers have already snapped up bargains within only weeks of 1saleaday launching with prices averaging to 90% below retail.
23 year old Melbourne entrepreneurs Simon Mochkin and Eli Feiglin brought the retail giant to Australia under a partnership deal.
“1saleaday is a massive business in the US, and now all Australians can leverage our huge buying power to access unbelievable deals on a daily basis," said Mr Mochkin.
"We're not only giving the best prices to the Americans but now Australians can access them as well," he said.
With the leadup to Christmas, bargain hunters are jumping at the chance to take advantage of the website’s one product a day deal, advertised every 24 hours.
"We're getting tens of thousands of unique visitors a day after just a short time and selling thousands of products daily,” said Mr Mochkin.
1saleaday not only provides a variety of products at heavily discounted prices, but also thrives on product giveaways.
“We're committed to giving out free products, because rather than spending money on marketing we want to give the savings back to our customers,” Mr Mochkin said.
Mr Mochkin believes giving away products provides customers with confidence in the deals and offers advertised on the site, with customers only paying postage and handling costs.
"1saleaday is already becoming a daily shopping experience for thousands of Australians, it becomes so addictive and the bargains are so good that you just want to look at it every day,” he said.
“We're off to a flying start, and the timing could not be better as the high Australian dollar makes our buying power even stronger," he said.
Peta Muller reported this story 25 October 2009.
Young adults are finding themselves in financial strife with the endless pitfalls of credit schemes warns premier budgeting company MyBudget.
MyBudget assists clients by managing their finances, advising clients how to break bad financial habits, achieve their financial goals, reduce debt and save money.
MyBudget Director Tammy May revealed that she and her staff regularly encounter young adults already experiencing financial difficulties from poor choices.
"The buy-now-pay-later deals can be a great way to get some needed furniture or appliances but many people in this age bracket get caught out with huge interest rates and repayments they may not be able to afford," Ms May said.
Ms May advocates spending only what you earn is an extremely important lesson to learn.
"I have personally seen many young clients who have found themselves in hot water over enormous mobile phone bills," she said.
"All of a sudden they receive a large bill they can't afford to pay by the due date and their phone is disconnected, yet if they are on a contract they are liable to pay it out in addition to their bill,” she said.
Keeping within the budget is most important, so shopping around before making significant purchases or financial commitments is imperative according to MyBudget consultants.
One of the first steps people should take when they begin to take on more financial responsibility is to track their spending and draw up a budget," Ms May said.
Websites such as www.canstar.com.au offer comparisons on interest rates, credit cards, bank accounts and insurance.
Ms May suggests that young adults should begin preparing for a new stage in life by discussing budgeting and finances with their parents or guardians and gain an deeper understanding about needs versus wants.
"It is so important for people at this age to realise spending habits are just as important as saving habits," she said.
