Money Management

Top Items You Shouldn’t Pay Retail For

With the holidays drawing near, just about everyone’s looking for a good deal. What’s strange is that, while people will camp out on Black Friday in order to save some money on a television, many of us end up overpaying for a number of items throughout the year without even realizing it. In fact, there are some items that you should almost never pay full retail price for.

A recent post by MoneyNing highlighted five items that you should avoid paying full price for. Near the top of the list is automobiles. Not only can you often negotiate with dealerships to get a lower price, extra features, or better financing, but you can also save even more money by buying a used car. Considering how much value new cars lose as soon as you drive off of the lot, savvy shoppers should search for a great deal on a used car that’s practically mint.

While the holidays are always a hard time to travel you can still find discounts on flights, hotels, and rental cars at most times during the year. In addition to sites like Expedia that offer many vacation packages, Priceline will allow you to bid on hotel rooms based on star rating and location. Similarly Hotwire will show you general information about a discounted hotel room but without the actual name of the establishment. If you’re particularly sleuthy, you can compare the room data Hotwire provides to listings on Expedia or Priceline to help figure our which hotel it is that you’re getting a deal on before you book it.

Another great way to travel for less is to utilize credit card points and airline miles. Additionally, many credit cards will offer exclusive deals that you can activate by logging into your account. For those who play their cards right (pun intended), it’s not uncommon for travelers to cover their entire trip using points they’ve accumulated from their other purchases.

This year many Americans are expected to do a lot of their shopping online. Not only is it convenient but can often be cheaper as well. In addition to searching multiple sites to find the best deals on items, you can often find coupons and promotional codes on sites like RetailMeNot. MoneyNing also recommends using sites such as Ebates or Mr. Rebates in order to take advantage of some of their cashback offers.

Although a good coat or sweater would make a great gift this time of year, you’ll save a lot of money by waiting until the weather gets warmer to purchase such items. However, that doesn’t mean that you can’t find good deals on a number of clothing items right now. With the holiday rush many retailers will offer great deals storewide. Otherwise shopping clearance racks as the seasons change is the best way to save some cash on clothes.

One last tip – when it comes to being frugal don’t forget quality should factor into your purchase decision as much as price. Best of luck with your holiday shopping and beyond.

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