What is a "good deal"?

I was just telling my husband all the great deals I found for our San Francisco trip, such as a 4-star hotel over the weekend for $200 night.  I got this deal through priceline's "name your price" option, and I have been consistently checking prices since I booked to confirm that, yes, it is/was a good deal. 

However, when my husband actually heard the price (and calculated the total cost for the length of our stay plus taxes), he was not that enthusiastic.  I do realize that we are not talking pennies here; but, given the cost of the city and the other options this was a good deal.

So what constitutes a good deal?

First, it should be a price that you can afford.  No matter how good a deal it is (e.g., 70% off), if it is hurting your wallet or causing financial troubles, it is not worth it!!  Think of it this way, if you need to pay many months of credit card interest for the "good deal", you are better off saving your money till you can afford it later on (and it might even be on sale later too!)

Second, you should want it.  Sometimes we think we want something because it's such a good deal.  For example, I have fallen victim to buying a shirt at a department store that was either too small (hoping I'd one day fit into it) or too out-of-style, because the price tag "could not be beat."  And, while the first rule applied and it was easily affordable, the second rule did not.  Did I even want this? Would I even use it? Or will it sit in my closet for a year until I decide to donate it to the salvation army?  Well, the same rule applies for travel.  If you don't really care about going somewhere, even though the price may start get your brain thinking you want to go, take a minute and think it through.

Other factors to consider: do you have time off that you can go? What would be the total price of the trip (transportation, lodging, excursions, etc.)  I once saw a fantastic deal for a cruise around Alaska.  It was too good to be true! But once I factored in airfare, taxes, and excursions, it soon lost its appeal.

What are other ways you define a "good deal"?

-JP