If I were not trying to be frugal, I might go to a big box store to buy a new laptop. But I am tightening my belt, so I'll go online to a site with live online auctions. An interactive auction will save me money on my new laptop in two ways. First of all, the computer will be much less expensive. And second, I won't have the cost of driving 60 miles roundtrip to go to the mall.

And besides, a live auction is much more fun than the mall!

I thought there was only one site with live online auctions (it starts with E), but it turns out there are quite a few. And they don't just sell computers. One site I looked at advertised digital cameras, Garmin GPS, and PSP. I had to look up PSP. In case you don't know, it stands for PlayStation Portable, which of course is a handheld game console made by Sony. They sell other games, too, like Nintendo and Wii. I must admit I'm a huge Wii fan.

That's not all they sell. Many sell flat screen TVs, iPods, and items that have nothing to do with electronics, like family vacations packages, clothing, jewelry, and vehicles. If you check back every few days, which I'm sure you will once you get started, you'll see new products all the time.

Every interactive auction works a little differently, but this is how a typical live auction site might operate. Once you register and become a member (for free), you buy bids in advance. Then you can browse through the live auctions and place bids on products you would like to buy. Each time a bid is placed on an item, the auction time gets extended. Each auction ends when the bidding ends. The last bidder wins.

In case you have to leave your computer before the bidding is over on your product, you can use an automatic bidding system to place bids for you. Don't worry - automatic bidders are trained to be thrifty.

A number of sites hold charity auctions in which the site donates the final sales price to a registered charity. Sometimes the site picks the charity; sometimes the winner does. Again, every site is a little different.

You might wonder how live online auctions can sell products for 80-90% off retail. For one, they buy in bulk at a discounted rate so they can pass the savings on to their customers. And sometimes manufacturers or distributors donate items to sites in exchange for free advertising.

Live interactive auctions combine the thrill of an auction with the ease of the Internet. They are perfect for bargain hunters and people who like it when charities benefit from their purchases. You will be able to afford products you thought were way out of your range. Your friends and relatives will wonder how you struck it rich when you give them quality gifts that you won at online auctions.