If you’re one of the millions of shoppers who are anxiously awaiting Black Friday deals then you have probably already made a list and checked it twice. You might even be shopping for yourself just as much as you’re shopping for others. With the excitement in the air it’s easy to overspend and scoop up as many deals as you can!
Unfortunately, the holiday season is usually where consumers seem to spend the most and get themselves deeper in debt. There are always so many deals it’ll make your head spin, this time when you’re out holiday shopping here are a few to skip and why.
- Cameras. Digital deals are usually the first thing people look for, but you’re better off buying a camera in late February after new models come out and older models go on sale.
- Bicycles. As fun as it is to give your child their first bike, these are more likely to receive higher discounts after the holidays.
- Luggage. Many retailers will be having deals on luggage sets, but the real deals won’t come around until March.
- Jewelry. There are a few deals you might find, but you’re more likely to find better savings during July and August when there are fewer holidays that call for gifts. Post tax season is also a good time to buy jewelry.
- Linens. First off, why are you giving someone linens during the holidays? Secondly, you’re more likely to find deals on sheets, towels, and blankets in January.
- Power tools. The popular dad and grandpa gift is actually something you should wait to scoop up. In June prices of tools are more likely to drop by 25%.
- Laptops. One computer company has already announced their laptop deals, but if you don’t need the newest model you might to hold for back-to-school season when laptops and computers sales mean bigger savings.
If you plan to shop during the holiday season make sure you know how to save as much as you can. Research sales, compare prices in-store and online, look for coupons, and find out if what you’re vying for is something you should wait for. You should be able to enjoy the holiday season without needing a debt consolidation loan in January. Prepare, research, and don’t fall into the holiday debt trap.