As the holiday season starts, so does the shopping sprees. When the seasonal decorations hit the stores and our paychecks hit our bank accounts, it’s easy to get in the shopping mood. Here’s a list of things you want to buy and not buy in October:
1. Trip Expenses: If you are planning on going out of town during the holidays, buy your plane tickets and trip expenses now. Data from Hipmunk says booking by October 30 for Thanksgiving flights can save the average traveler up to 24% off peak prices. Booking Christmas travel by the end of the month can yield 31% in savings. After Halloween, prices for flights will continue to increase.
2. Outdoor Equipment: As the temperature cools, the season for outdoor activities starts to end. This means camping gear, hiking apparel, patio furniture and other products will see a price drop. This is great if you are looking to get a good deal on stuff you can use the following season. The only caveat, outdoor winter equipment will see a price increase at this time as people prepare for ski season.
3. Cars: Traditionally October is one of the best months to purchase a new vehicle as manufacturers are starting to release next year model and dealerships start to discount the current model in preparation. Be aware of storms hitting your area, we’ll see an uptick in hail damaged cars as fall storms roll through.
4.Out of Season Apparel: Again, as temperatures get cooler, now is the time to invest in upgrading your summer wardrobe. There will be a huge price slash to summer fashions as sweaters and jackets take over the retail space. Avoid shopping for in season fashion as it will be increasing in price during this time.
5. Costumes: Many retailers will start to discount Halloween costumes with two weeks remaining until the holiday in an attempt to catch last minute buyers or people who didn’t originally plan on dressing up. Waiting a little longer to buy your perfect costume can pay off with up to 20% off. The best day to buy a Halloween costume would be November 1st, the day after Halloween when prices can easily drop 50%.
Not To Buy:
1. All Things Technology: Wait to purchase your new phone or TV until the Black Friday deals start rolling through. With the introduction of the internet, Black Friday starts earlier and becomes more competitive between retailers every year. Consumers can easily save $100s by waiting to purchase their tech gadgets until the end of November.
2. Appliances: This also should wait until the Black Friday sales kick off. November is the month for discounted home appliances as the discounts are much higher during this month than any other month out of the year.
3. Winter Clothing: Now is not the time to buy a new winter coat. In season apparel will increase in price as the temperature drops and the demand for winter clothing increases. Wait until Black Friday to go shopping for your winter wardrobe.
4. Jewelry: With all the big family holidays this time of year, December is the most popular month to get engaged. That means jewelry sellers markup their prices around this time of year. Not only for engagement rings, but jewelry is a popular gift for the holidays. The best time to purchase jewelry would be in the middle of summer when there are no major holidays. Some retailers will lower their prices by as much as 30% in July.
Enjoy the bargains by being aware of when to spend and when to delay the purchasing of certain items. By being a wise shopper, you can save $100s of dollars to direct to your saving or even better, your retirement fund.