What to Buy and What to Skip This August
Independence Day sales are over, and Labor Day is a month away, but you can still get great deals in August. Here’s what to buy and what to skip this month.
Buy: Outdoor toys
Outdoor toys, like sandboxes, bikes, inflatable pools, and more, typically get big discounts in August. Check out sites like Overstock and Wayfair and look for markdowns on playground sets at retailers like Lowe’s and Home Depot.
Skip: Major household appliances and mattresses
If you’re in the market for a new oven, mattress, or another major household purchase, you’re best off waiting until September. Retailers tend to slash the prices of these items by 30% or more during Labor Day weekend sale events. Plan ahead by checking out upcoming sales in the weeks leading up to Labor Day. Doing so will help you land the best prices on your purchases.
Buy: Swimwear
Stores and online retailers need to clear out their summer stock to make room for the autumn and winter line, which gives you the perfect opportunity to snag a super swimsuit deal! You can walk away with great finds at ridiculously low prices you won’t find next spring. Stash your treasures for next year’s beach season, or keep them for a winter getaway to warmer climates with sunny shorelines.
Skip: iPhones
If you want to update your iPhone, you’re best off waiting a month or two. The new iPhone is expected to be released in mid-September. Older models typically see a price cut when new models hit the market. So, whether you want to score the best price on an older phone or are willing to pay anything for the latest and greatest in iPhones, put the brakes on that purchase until September.
Buy: School supplies and kids’ clothing
With back-to-school shopping seemingly starting almost as soon as school is out for the summer, August is already late. It’s also when school supplies and kids’ clothing tend to see generous markdowns. Stock up on supplies to last all year long and get your kids outfitted for the coming season at rock-bottom prices in August.
Skip: TVs
Don’t run out and buy a new TV just yet. If you need a new flatscreen, you’ll want to wait for Black Friday to get the best deal.
Buy: Office supplies and furniture
Back-to-school sales mean you can also cash in on office supplies and furniture. If you’re one of the many Americans working from home, you may need to restock your home office with basic supplies or upgrade your office chair or desk. Why not save on these purchases by paying for them in August?
Skip: Fall clothing
Fall apparel will just be hitting the stores in August, so you likely won’t see any steep discounts on fall wear until October. It’s best to buy just a few autumn basics during the Labor Day sales and fill out the rest of your wardrobe later in the season.
Buy: Patio furniture
Those wicker table-and-umbrella sets can get pricey! Pick up a sweet deal on patio furniture by buying your sets and single pieces at the end of the season. While giving your patio a facelift, you’ll also find grills, outdoor decor, and more on sale in August.
The final dog days of summer bring a flurry of marked-down products and end-of-season sales, but some items are best purchased during another time of year. Use the tips outlined here to know what to buy and what to skip this August. Happy shopping! If you like this post, make sure to check out our MoneySmart Tips Blog.