Most people love saving money! The bigger the price tag, the better the savings potential (and satisfaction when you find a great deal). Most people also think there are certain windows where deals can be found, but is that really true? US News and World Report weighs in with a new helpful guide to the best times to make big purchases.
Here are Five Fast Facts on when to buy pricey stuff:
- 🛋️ Have A Seat - Whether it’s filling out a whole new house or just replacing that nasty old recliner, furniture usually burns a deep hole in your pocket. The best time to buy? February or August, because that’s when the seasons switch between hot and cold, and retailers want to clear out the old stuff for the new season. You might find great deals on holidays like Memorial Day or Independence Day, but not always.
- 🚙 Vroom Vroom! If you need a new set of wheels, hit the lots either in May or between October and December. The auto show season has wrapped up in May so dealers are trying to get rid of the old stuff, and Memorial Day is usually a great incentive to bring summer crowds. New vehicle year models start arriving in October. So dealers want to clear their lots of the old year models to showcase the new ones coming in. The longer you wait, you might score bigger since dealers are also trying to hit quarterly and annual goals. Balance that against less inventory, though, and you might wait yourself out of good options!
- 🍽️ Doing The Hard Unsexy Work, Every Day - Need a new fridge or dishwasher? New appliance models come out in November, so you’ll typically see the best sales at the very end of the year, or in early January, especially from the big box retailers with excess inventory of the old stuff. You might also be able to find good deals on major holidays.
- 💍 All That Sparkles - Fancy getting that special someone something very special (and sparkly)? Hit the shops a few weeks after the major holidays because jewelers are trying to get right of their old inventory, as well as discounting returns from previous purchasers. For the crown jewel (see what we did there?) of an engagement ring, focus on August because retailers want to get things moving after the summer slowdown.
- 📺 Gizmos And Gadgets - For the best deals on electronics, November through January is your time, as Black Friday sales actually do give some of the best prices all year. Thanks solely to Amazon’s Prime Day, July through August is your second best option. For computers or laptops, check in August for back-to-school specials.
🔥Bottom line: Some people really love the thrill of victory in finding a great deal, and some just want to pay less for the stuff they buy because life is expensive enough. Whichever camp you fall in, this guide helps you save money on some of the biggest purchases you’ll likely have.
What’s your best tip for saving money on big purchases?
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