News

Actions

What to buy now, what to wait on till January

Don't Waste Your Money
WCPO-Default-Image_1280x720.png
Posted at 12:27 PM, Dec 19, 2016
and last updated 2016-12-28 11:48:27-05

We are now in the final days of 2016. Many of us tried to find the lowest price on a gift for someone special, or even for ourselves, at pre-holiday clearance sales, but great deals are still waiting to be had.

Kiplinger's Personal Finance says if it's not a gift, and you can wait, you may get a much better price on a number of items right after Christmas or in mid-January.

When to Buy

Cars: The best deals are the year-end sales between Christmas and New Year's, though some of the earlier December "events" are very competitive. Kiplinger's says the final week of 2016 will bring you the biggest markdowns, especially as dealerships try to clear out lots and meet sales goals for the year.

Name brand 4KTVs: This is a case where you may want to wait. The best sales are in the two weeks before the Super Bowl (Feb. 5) if you missed the Black Friday sales.

Electronics: If you missed Cyber Monday, you will still find some decent sales right now, such as Amazon Kindles and Echoes at Amazon.com's Last Minute Deals.

Coffee Makers, Crock Pots: Department stores like Macy's and Kohl's ran some great pre-Christmas sales on small kitchen electrics, so they may be gone if you didn't buy them on Black Friday, but it doesn't hurt to check (for yourself or someone else).

Furniture and Bedding: January has some of the biggest furniture sales of the year, especially during January White Sales (right after New Year's Day) and over MLK weekend.

Jewelry: Prices are lowest after Valentine's Day in late February. However, you could have found a lot of great jewelry clearance in the final days before Christmas.

Luggage: The biggest sales are in March, but check after-Christmas sales for some surprises.

Some pre-Christmas sales are nothing special

But some pre-Christmas sales come with a little secret: The discounts are really not that great, according to The Wall Street Journal, especially on Amazon this time of year.

The Journal says despite the hype, retailers make higher profit margins this time of year than in the spring and summer, which may leave you saying "doesn't that stink."

The Journal also says many of the biggest holiday season markdowns are on items that were never sold at their full price to begin with.

You may remember a recent lawsuit filed by the city of Los Angeles against four of the nation's largest department stores, accusing them of phony discounts.

Of course, If you need it before New Year's Day, you need it.

But otherwise, waiting a week (until after New Year's) could reap huge benefits, so you don't waste your money.
____________________________

“Don't Waste Your Money” is a registered trademark of Scripps Media, Inc. (“Scripps”). The information included in this article was obtained independently by Scripps reporters. While purchases from links inserted in this article may result in a commission for Scripps, no Scripps reporter benefited from that commission.

"Like" John Matarese on Facebook

Follow John on Twitter (@JohnMatarese)

Sign up for John's free Newsletter by clicking here

Click here for more DWYM reports and to contact John

_____________________________

You can save on local dining, tickets and attractions with WCPO Insider. Get access to a Digital Premium Subscription of the Washington Post and original storytelling by our award-winning journalists.