December Deals and Duds

The following YouTube video is from Money Talks News.

December is a month when Americans generally do the majority of their discretionary spending. It’s a month filled with holiday cheer and spectacular deals. But did you know that while some items bring with them fantastic bargains this time of year, others are best purchased after the holidays?

December Deals

  • Toys – Retailers fight for market share more than ever during the holidays, so December (and the end of November) is the best time to search for the perfect deal when shopping for toys for your little ones. But don’t wait too long — the closer you get to the holidays, prices tend to rise as retailers anticipate last-minute consumer desperation.
  • Gift Cards – Buying gift cards for either yourself or your loved ones is a no-brainer this time of year. Retailers typically attach some sort of special or bonus to gift card purchases during the holidays, essentially putting free money in your pocket.
  • Tools – On average you will find about 30% more sales on tools this month than at any other time of the year.

December Duds

  • Jewelry – While jewelry makes the perfect gift this season, it’s far from the best deal during the holidays. Wait for any month other than December, the priciest month of the year for this category.
  • Holiday Decorations – The best time to purchase holiday decorations is when you don’t need them — right after the holidays. Retailers need to get rid of their leftover inventory as soon as possible, so purchase next years decorations as soon as the holidays end.
  • Consumer Electronics – Black Friday and Cyber Monday are typically associated with deep discounts on items such as TVs and laptops. But these deals tend to fizzle out once the calendar rolls into December. If you missed these end-of-November deals, wait until after the Consumer Electronics Show in January when you can purchase 2016 models at a steal.

Every month has its deals and duds, and December is no exception. So be prepared and finish out the holiday shopping season armed with this valuable information. This may be a season of giving, but it doesn’t have to break the bank!

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About cozbycpa

Heather L. Cozby is a CPA on the South Shore and Cape Cod. The managing partner of Cozby & Company, LLC, Heather has the resources and experience necessary to provide quality professional services on a timely basis and at a reasonable cost. She specializes in tax planning & preparation; audit, review & compilation services; management advisory services; bookkeeping; and accounting. Her unique niche is in working with homeowners’ associations and condominium trusts, advising with rental real estate, and providing outsourced financial consulting for mid-sized companies. She is more entrepreneurial than most accountants, and offers the best of both worlds - providing the services of a larger firm while retaining the ability to connect with her clients on a personal level.
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