New year, new deals. When January arrives, frugal people know that means major savings in a variety of categories.
If you’re like many people, you might be trying to keep your wallet on lockdown after the holidays. However, if you can swing it, there’s a lot of savings to be had on items — and services — big and small.
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Want to find out what frugal people are buying in January? Here’s a list of eight things these penny-pinching people know they can save big on this month.
Televisions
If you didn’t take advantage of TV and sound bar deals on Black Friday, Melissa Cid, consumer savings expert for MySavings.com, said the impending Super Bowl will likely offer a second chance.
“The weeks before the big game brings TV deals at warehouse clubs, Best Buy, Walmart and Target,” she said.
Fitness Memberships and Exercise Equipment
If you’ve been thinking about shopping for exercise equipment, Cid said January is a great time to do so.
“Getting healthy and back in shape is on many people’s minds at the start of the new year,” she said. “You can often find some great deals on everything for your home gym like dumbbells, weights, treadmills and even bathroom scales.”
Of course, you don’t have to be focused on home workouts to save on fitness this month.
“With health and fitness being a popular New Year’s resolution, local gyms often hold sales on annual membership during January,” said Samantha Landau, consumer expert at TopCashback.
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Tax Software
You can’t avoid doing your taxes, but you might be able to save money by getting an early start.
“With January marking the beginning of tax season, frugal shoppers may look to take advantage of early-bird discounts for tax preparation software to save money on filing their taxes,” Landau said. “For example, TurboTax is currently offering 10% off its services.”
Winter Clothing and Accessories
“While it may still look like winter outside, it’s not winter anymore for businesses,” said Scott Lieberman, founder of TouchdownMoney. “They’re gearing up for spring and summer, and they want to ditch the winter gear.”
Therefore, he said frugal people know January is the time to save big on items like coats, boots and gloves. Even if you don’t currently need these items, buying ahead in anticipation for next year can allow you to enjoy deep discounts.
Linens and Bedding
If you need new bedding, now might be the time to start shopping.
“January is traditionally known for its ‘white sales,’ where retailers offer discounts on linen and bedding,” Lieberman said. “Frugal people take advantage of these sales to purchase higher quality bedding at a lower cost.”
Christmas Items
Now that Christmas is over, buying holiday décor and items often given as gifts might seem like a strange move, but frugal people know this practice can offer big savings.
Peter Hoglund, AIF, CFP, senior vice president, financial advisor at Wealth Enhancement Group, said excess supply is always marked down shortly after the holidays end, so businesses can use the space for the next season.
“Don’t expect these same deals online with no storage issues,” he said. “You must enter larger retail stores in early January to find those deals.”
He said it’s also best to go into stores with an open mind, as stores will likely have a limited selection.
“This may also be true of the ‘hot item’ from the season,” he said. “Retailers make projections about what customers will want in the winter much earlier in the year, and if they’re wrong, you may be able to look at cut-rate deals on air fryers or blenders.”
Homes
If you’re planning to buy a home this year, frugal buyers know doing so in the winter can be a best-kept secret.
“Winter is usually an unpleasant time to purchase or sell a home,” Hoglund said. “It’s not a great time to move school-age children, few people are willing to go into homes and generally, home sales wait until spring showings for summer close.”
While some sellers might time their winter home sale in advance, he said this can be a good opportunity to score a discount on unplanned sales.
“Unexpected layoffs may force sales at unfortunate times and may also create buying opportunities for intelligent, flexible buyers,” he said. “If you are looking for a home, always be ready, especially with preapprovals and cash down payments.”
Annual Subscriptions
“Deals for newspapers, streaming services and recurring services often offer annual payment savings rather than monthly,” Hoglund said. “If it’s a service you know you’ll love and value, shell out the upfront cash and save yourself 5-10% over the year.”
Paying upfront for the entire year might seem like a hefty cost, but frugal people know it’s worth taking advantage of the savings.
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This article originally appeared on GOBankingRates.com: 8 Things Frugal People Always Buy in January
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