Photo credit: Rachael Ray Show
Aired January 20, 2016
Now that the holiday shopping season is officially over, many of us could probably use a tip or two to help us save a little money in the New Year. Founder and CEO of LearnVest.com, Alexa von Tobel, is helping you get started by revealing which products you should buy this month, and which you should hold off on until later this year.
Check out her breakdown of six must-have items, below.
No. 1: Small Appliances
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Are you itching to buy a new blender or coffee maker? Don't scratch it just yet.
"Small appliances are best [to buy] in November and December," von Tobel reveals. "That is when they go on their biggest discount -- around all the holidays, because they're gifts."
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"If you need to buy it in January, we recommend that you wait until February," von Tobel continues. "You'll see a little dip in prices in February, and then they go back up."
No. 2: Gift Cards
Gift cards are a great stocking stuffer, or a gift to give for someone who never knows what they want.
But as it turns out, they're also worth buying after the holiday season has ended.
"We all give [gift cards] away for the holidays," von Tobel says. "What we end up seeing is, in January, so many people [who don't want them] go to sites like CardPool.com and they sell them back. You can get a $100 gift card now discounted for $85. Dollar-for-dollar, [it's] a huge discount."
"Even if you need them and want to turn them in, now is the time."
No. 3: Luggage
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Now that the holiday traveling season has ended, one would think that January would be a great time to go in on a new set of luggage. Not exactly.
In fact, you're better off waiting until fall.
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"Right now, everyone is gearing up for Spring Break, cruise season and summer," von Tobel reveals. "The best time to go and buy all of your luggage is actually back-to-school [season], in September."
No. 4: Patio Furniture
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"[Companies] are rolling out, right now, all the new models for spring and ultimately summer. So, all of the new versions are coming out."
"You actually want to buy it in May, right before you go into summer."
As for grills?
"If you're going for grills, they discount them in March," von Tobel says.
No. 5: Furniture
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Von Tobel says January is actually the best time to buy new furniture.
"February and August is when new models come in," she says. "Think about it: Furniture is so big; [companies] are clearancing [sic] this stuff to get it out [of their stores]; they physically need the space."
No. 6: Work-Out Equipment
Did you put on a few pounds during the holiday season? You're in luck, because von Tobel says now is a great time to invest in some new work-out equipment.
"Everyone wants to buy it, but they discount it because they move so much volume; it's the whole 'New Year, New You' [vibe]. So, you'll actually see discounts between 30 and 70 percent."
To get more financial tips for 2015, visit LearnVest.com.
