If you’re one of the millions of shoppers who anxiously await Black Friday and Cyber Monday deals along with all the other shopping enticements leading up to Christmas, 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.
According to a survey conducted by the National Retail Federation, Americans plan to spend an average of $998 during the holidays in 2021. Unfortunately, the holiday season is usually where consumers seem to spend the most and get themselves deeper in debt. If all the deals and sales are making your head spin, here are a few things you might want to hold off on buying for now.
1. Cameras
Digital deals are usually the first thing people look for during the holidays, but you’re better off buying a camera in late February or early March, which falls after the Consumer Electronics Show in January. After the new models come out, the older models are offered at deep discounts.
2. Exercise equipment
‘Tis the season to make new year resolutions about health and fitness, which means that gyms will be packed come January and exercise equipment will be on many gift lists this month. If you can hold out on buying that new treadmill or stationary bike until February, you’re likely to see some fabulous deals.
3. Holiday decor
When stores are awash in the latest holiday decor trends, it’s hard to resist adding to your collection. If you can hold off until even just the day after Christmas, however, you’re likely to see 50% off or more on holiday decor.
4. Luggage
Many retailers will be having holiday deals on luggage sets, but the real deals on luggage come around at the end of summer, after the end of the summer travel season.
5. 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. The post-tax season, in mid-April, is also a good time to buy jewelry.
6. Power tools
The popular dad and grandpa gift is actually something you should wait to scoop up. In June, which is just in time for father’s day, prices of tools are more likely to drop by 25%.
7. Laptops
One computer company has already announced their laptop deals, but if you don’t need the newest model, you might to hold off buying now and instead wait for the back-to-school season in late July. This is when laptops and computers sales mean bigger savings.
If you plan to shop during the holiday season and can’t wait for the lowest prices, there are still plenty of deals to be had on all of these products. 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. If you must use a credit card for some of your holiday purchases, use one with low or no interest, and pay it off in early January before you get the bill. You should be able to enjoy the holiday season without being broke in January. Prepare, research, and don’t fall into the holiday debt trap.
