Memorial Day is a time to remember and honor those who have served in the United States Armed Forces. It's also a time when retailers will bombard you with sales events. If you are serious about getting on track with financial wellness, it may be best to stick your head in the sand when it comes to advertisements this May. However, sometimes if you really need something, Memorial Day sales may be just the thing to get a great deal. Being cautious about what to buy can be the difference between saving money and wasting it.
It's a good rule of thumb that if you can't buy it with cash, you don't really need it. Watch out for predatory credit deals going around on Memorial Day weekend. If you truly need something like replacing an appliance that recently broke, and you simply cannot wait, then make sure to shop around and get the best deal. Don't just go for the first sale you find!
Be sure to read the fine print! Some deals aren't what they seem, and and mail-in rebates could be a lot more trouble than they're worth. Not to mention that sometimes they have strict requirements that you might not realize you don't even meet until it's too late and you've already spent the money. Also, watch out on items that cannot be returned.
The best time to buy a car is usually between July and October because dealerships are trying to make room for the newer models that are heading into the showroom at the end of the year. Better savings can be found during Independence Day and Labor Day sales.
Older and slower electronics are usually unloaded around Memorial Day. While you may be getting the item for cheap, it may not be the best model. In the case of a new laptop or a television, back-to-school sales and Black Friday may offer better deals.
Clothing and swimwear are almost always on sale, so gimmicks like 20% or even 30% off aren't always your best bet. These same sales will happen all year round, so don't go and spend your entire savings on new clothes if you don't need to.
Jewelry is a luxury that is best purchased right after Valentine's Day when retailers are looking to get rid of anything they didn't sell. It's much like buying candy the day after Halloween or Easter. Treat jewelry no differently, and you will score some discounted pieces.