Key Items You’ll Save on in January

by Jessica Sommerfield · 0 comments

Post-holiday recovery usually requires tightening up the belt for a while — cutting out extra spending such as shopping, eating out, and entertainment. It’s a time to reevaluate your finances and make any necessary changes to get back on track with your financial goals.  The holidays may have done a number on your bank account, credit card or (gasp) savings account, and now you have to pick up the pieces.  But, as long as the condition of your finances doesn’t require a completely spending freeze, there are some items you’ll find available for deep discounts in January that, if you can afford to buy now,  will save you money the rest of the year.

Fitness Equipment
This category shouldn’t really be a surprise.  Deciding to lose weight and live a healthier lifestyle has been a cliche New Year’s Resolution for as far back as anyone can remember. While demand for fitness equipment is higher than usual because of health resolutions, competition is equally as high, driving prices down anywhere from 30-50%.  The only concern with buying pricey exercise equipment, even at a discount, is whether it will actually be a good investment for you. Buying a cheap treadmill and then letting it collect dust and take up space is just another waste of money. Put some thought into the equipment you buy — talk to other people who have used the equipment and ask them about their results, likes and dislikes. If you don’t have the cash (please don’t go into debt) or space for large equipment, consider purchasing smaller accessories along with fitness DVDs.

(Some) electronics and appliances
New electronics and new  models of old electronics are typically introduced to the market the first few months of the year. This doesn’t apply to all electronics, of course.  While this year’s Xbox One and PlayStation 4 won’t be decreasing in price anytime soon,  other items such as some laptops and televisions will be dropping in price. Home appliances will experience the same “new model” phenomenon, as well as the efforts of retailers to purge excess inventory left over from the holidays.  As with any electronic device, check out Consumer Reports and other reviews before you purchase, and make sure you pay for the extended warranty if it’s only a few dollars. Be wary of prices that are too low — this could be a sign the item is unwanted, and for good reason.

Trending with electronics, new furniture lines are introduced the first few months of the year, enabling deep discounts on past years’ lines. Most major furniture stores will feature huge sales in January and February, also counting on big purchases from early tax return filers.  So if you need a new couch, dining set, or bedroom set, now’s the time to get it. Many furniture retailers also offer no payments and O% financing for up to 12 months, an opportunity to set aside the full amount a little at a time. It’s not wise to go into debt for new furniture, but if you treat store financing plans like layaway, you’ll be able to save the full purchase price in increments while avoiding any financing fees. Beware if you don’t pay in full before the 12-month deadline; the interest rate will probably be very high.

Admission to National Parks
This might seem out of line with the rest of the categories, but there’s a link.  On January 20th, Martin Luther King Jr. Day, all national parks will feature free admission. Some national parks are free all year round, but on this day, even major parks such as Yosemite and Grand Canyon will be open for free. If you need a mini-vacation this winter for your family, consider visiting a beautiful national landmark you haven’t seen yet. At $12-$25 per person, this is a huge savings if you bring the whole family.

January is a month to tighten the belt on spending and get your budget back on track. While you’re planning what to spend your money on this month, consider some of these purchases you might already be planning to make, and get in on the savings.

Bonus Tip:

Another way to save on your monthly Internet and TV costs is to find a current ATT U-Verse coupon code or at least a promotion to knock down your home service bill.

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