Good timing could save you a great deal of money. That’s where our Best Things to Buy This Month series comes in handy. Consider our shopping list before making yours.
What if you could save $200 on a top-of-the-line vacuum cleaner to replace your old one? Or pay half the sticker price for a new mattress that’s actually comfortable?
Then you might want to consider buying both items in May.
This spring, as you clear out your closet or home of old items to make way for new ones, consider these opportunities for seasonal savings.
5 best items to buy in May
Here are five items you should purchase in May thanks to seasonal discounts and manufacturing timelines.
If your refrigerator is on the fritz, May is a great time to upgrade.
“New models of fridges generally come out in the summer months, so many retailers are clearing out previous inventory to make room for the new,” said Ally Compeau, a consumer expert who has worked in sales.
Compare prices online and call local appliance stores to confirm that May is the last — and therefore best — opportunity to receive discounts on last year’s models.
Like car dealerships, furniture stores often advertise discounts on three-day weekends. That’s why buying a mattress before or during Memorial Day weekend (May 26-28) could be wise.
Mattress discounts also can start in late April. JCPenney and Sears both were selling mattresses for 60% off or more.
Even when the price is right, you might be confused about which mattress to buy. Check out this Consumer Reports guide so you can find the right mattress for you.
May is a good time to buy a vacuum because brands often release new models in June.
For example, shopping expert Trae Bodge said she noticed the expensive Dyson Small Ball upright vacuum was $200 off at Target in late April.
Shop around at a variety of stores to find the lowest price. And try to take advantage of price-matching guarantees to boost your savings.
4. Secondhand stuff
Because many people do their spring-cleaning in May, it’s also the month when many people sell items they no longer want.
Check local thrift stores and websites such as Craigslist and eBay for items on your shopping list you can buy secondhand. Someone else’s trash could become your treasure — and at a much lower price.
You also could declutter your own home by selling unwanted stuff online.
5. Spring and winter clothing
You might be tempted to buy a new swimsuit because summer is around the corner, but May actually is a better time to buy spring apparel, according to Bodge. It’s been online and on racks since March and will have to go to make room for warmer-weather clothing.
May also is a good time to buy winter clothing — whatever’s left of it — because stores are making room for swimsuits and other beachwear.
Shop wisely, no matter the month
Although May might be a good time to buy certain big-ticket items, treat it like any other month. Use coupons, price-tracking tools, and product reviews on websites such as Wirecutter to make sure you’re getting the biggest bang for your buck.
Whether you’re searching for sales on Amazon or at brick-and-mortar stores, don’t buy something you don’t need just because May is a good time to buy it. And if you’re considering purchasing a big-ticket item such as a vacuum, mattress, or fridge, put it through a purchasing stress test first.
“When retailers advertise items for sale, they are often deeply discounted and sometimes close to their cost,” said marketing expert Andy Curry. “The idea is to lure customers in with great deals in hopes they will buy other things.”
And don’t borrow money to make an unnecessary purchase, even if you’re using a credit card.
In other words, shop with a list — and stick to it.
Interested in a personal loan?Here are the top personal loan lenders of 2018!
|Lender||APR Range||Loan Amount|
|1 Includes AutoPay discount. Important Disclosures for SoFi.
2 Includes AutoPay discount. Important Disclosures for Payoff.
3 Important Disclosures for FreedomPlus.
4 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
5 Important Disclosures for LendingPoint.
6 Important Disclosures for LendingClub.
All loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage & history. The APR ranges from 6.16% to 35.89%. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The total amount repayable will be $6,767.64. Your APR will be determined based on your credit at time of application. The origination fee ranges from 1% to 6% and the average origination fee is 5.49% as of Q1 2017. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via LendingClub have a minimum repayment term of 36 months or longer.
7 Important Disclosures for Earnest.
8 Important Disclosures for Avant.
* The actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. Funds are generally deposited via ACH for delivery next business day if approved by 4:30pm CT Monday-Friday. Avant branded credit products are issued by WebBank, member FDIC.
** Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33
* Important Disclosures for Upgrade Bank.
Upgrade Bank Disclosures
** Accept your loan offer and your funds will be sent to your bank via ACH within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes this transaction. From the time of approval, funds should be available within four (4) business days.
|7.73% – 29.99%||$1,000 - $50,000||Visit Upstart|
|6.26% – 14.87%1||$5,000 - $100,000||Visit SoFi|
|6.99% – 35.97%*||$1,000 - $50,000||Visit Upgrade|
|8.00% – 25.00%2||$5,000 - $35,000||Visit Payoff|
|4.99% – 29.99%3||$10,000 - $35,000||Visit FreedomPlus|
|5.99% – 18.99%4||$5,000 - $50,000||Visit Citizens|
|15.49% – 34.49%5||$2,000 - $25,000||Visit LendingPoint|
|6.16% – 35.89%6||$1,000 - $40,000||Visit LendingClub|
|6.99% – 18.24%7||$5,000 - $75,000||Visit Earnest|
|9.95% – 35.99%8||$2,000 - $35,000||Visit Avant|