Summer Sales are lots of fun, especially when you’re able to snag some real bargains. But those promos can be very enticing. You may even forget all about your budget. While you are out there bargain-hunting, be sure to keep your financial goals in mind. And remember…pay with cash, or if you charge it, be sure you can pay the balance in full when due.
Here are 6 items worth buying this summer.
- Personal Electronics. Among all the summer sales, Amazon Prime Day, the Black Friday of July is probably the most popular. But be sure to check out the competition. Best Buy, Target, and Walmart have created their own July Black Fridays. If you are in the market for electronics, including computers, laptops, and other digital devices, you’ll save money during these sales. Compare prices and research everything carefully.
- Back-to-School Supplies. The retailers start their back-to-school marketing in July but you should wait a little longer. Early August is much better. Getting a head start in August guarantees you will find everything, and you can also snag some good deals on items such as laptops, and basic supplies, such as pencils, paper, and notebooks, backpacks, etc. But remember, before you buy anything inventory the house. You can set up a treasure hunt and put the kids to work finding all the supplies from last year and before.
- Outdoor gardening equipment. Skip the July sales and wait for August. Gardening season is winding down so the prices will be much better. If you are in the market, August is a good time to purchase those large garden equipment items that you may need, such as lawn mowers, weed whackers, etc.
- Outdoor Grill. If you didn’t get one in time for your July 4th barbecue, you can find some great summer sales on barbecue grills throughout this month. With Labor Day signaling the end of summer vacation, the remaining stock tends to get marked down even more in August. If you don’t need a grill right away, it would be worth it to wait until next month. Sears, Home Depot and Lowe’s are the best places to find good deals on outdoor grills.
- Kids Clothing. It’s still pretty warm when the kids head back to school in most places. Retailers, though, are already thinking winter. You can find some great prices on summer clothing on clearance racks in your favorite stores, such as Old Navy and the Banana Republic. You’ll find markdowns as much as 50%. Shop smart, and you can outfit your kids for the first months of school on less than $100.
- Airline Tickets. July and August are peak travel season. Tickets to just about any destination are going to be at their highest. But, if you want to purchase now for travel later in the year, this month is a good time to find deals. Be sure to use travel apps and online sites, and travel on a Tuesday if you can.
Skip the Summer Sales on These Items
- New Car. If you need a good car, summer is a great time to go looking, but not the best time to make a purchase. Dealers are already moving in the 2020 models, but the discounts will be much deeper in October. By then, dealers are very anxious to move inventory off the lot. Remember to check your credit score before you begin the process of buying. You need to know your score, and you need to be sure there are no errors on your report. Also, knowing your credit score will empower you to make the best negotiations so you secure financing favorable to you.
- Outdoor Furniture. Summer definitely puts us in the mood to spend time in our garden or on the balcony. And you will see sales promos on outdoor furniture, but unless you really need it, skip over those summer sales. In the Fall, these items go on clearance and you will find the best deals then.
- Home Buying. Summer is a great time to start the process of looking for a home to buy. And this is the reason why it is one of the worse times to buy a home. Everyone is out there looking. It’s a seller’s market. You want to wait for the buyer’s market to return, during the off-season months of late Fall and Winter. Unless you need to move now, try to wait until then to make your purchase.