WASHINGTON — Save some money this summer by getting the most bang for your buck with July purchases.
There are many item consumers should and should not buy in the month of July, says TheStreet’s Personal Finance Editor Ross Kenneth Urken.
Here are some of his suggestions for July purchases.
Summer items
- Buy summer clothing. A lot of stores want to display their fall merchandise, which requires them to get rid of the summer clothes.
Many retailers mark down their summer clothes 30 percent to 40 percent in July.
- Don’t buy sunglasses. They are full price now. Wait until September or October to buy them and you can get as much as 40 percent off.
- Don’t buy beach or pool gear. Skip swimsuits, beach towels and beach chairs in July. People are still going on beach vacations and the items are still in demand, so prices are highest.
Electronics
- Buy back-to-school items. Many school-related electronics are on sale in July.
“Even though the kids are thinking the school year is far away, parents are starting to think about getting prepared,” Urken says.
- Buy laptops. Sales are starting for laptop computers and they can be purchased for $70 to $100 less during July.
- Don’t buy TVs. Wait until Black Friday and cyber Monday deals.
For the home
- Buy furniture New furniture models come out in August and stores want to move out the old merchandise in July.
“If you’ve been thinking about getting a new leather couch, you’re going to find about 30 percent off,” Urken says.
- Buy tools. Tools and other home improvement items are on sale now that Father’s Day has come and gone.
- Don’t buy air conditioners. With July’s heat, comes higher demand for air conditioners.
“You don’t want to kill yourself sweating it out in the heat, but if you want to be a smarter consumer and you’re thinking your air conditioner is on its last leg, wait until the end of August or really after Labor Day for a cheaper air conditioner,” Urken suggests.
- Don’t buy grills. While there may be some deals on grills, you can find them much cheaper if you wait until after Labor Day.
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