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Summer’s End: Maximizing Your Savings During the Final Days of Summer Sales

While many Americans are off on summer vacations, retailers often hatch up plans to purge inventory and increase revenue.

A retail store’s way to increase profits can be your way to increase savings. You just have to do a little homework and planning.

In this article, you’ll learn how to maximize your savings around summer sales. Here are the main topics we’ll cover:

  • Strategies to take advantage of end-of-summer sales.
  • Best practices for purchasing seasonal items that can be used next year.
  • How to avoid impulse buying while still getting good deals.

End-of-summer sales strategies

Most big-name retailers run sales at the end of all seasons. The end of summer is a good time for retailers to keep customers engaged while clearing room for the next season’s inventory. Plus, back-to-school is right around the corner.

It’s also a time of year when college students head back to universities. In addition to clothing sales, you’ll see everything from laptops to furniture go on sale this time of year.

So, how do you take advantage? Start with an online search. Most brick-and-mortar retailers post deals on their websites. It helps to get a look at what you’re buying before heading out to the store. Keep an eye out and compare sales from competitors. One may have a lower price than the other.

You set your budget and stick to it. Don’t let the retailers make you break from your savings plan.

Best practices for repeat items

The Fourth of July happens every year. All those American flag serving dishes, bathing suits, and lawn ornaments go on sale July 5. Your kids and guests won’t think any differently about eating with discounted red, white, and blue plastic plates and utensils next year.

In fact, anything from the summer season will go on sale to make room for fall items. If you’re eyeing up something summer-related, plan to buy it now. That way you don’t pay full price next year. Just make sure it’s something you really want or need.

You wouldn’t want to let an impulse purchase be the reason for next season’s credit card bill.

Avoid impulse shopping

You don’t want to spend money just to spend money. Previous studies from CNBC Select show one-third of Americans admit “the majority of their shopping is impulse purchases.”

That’s why it’s important to go into your summer deal shopping with a plan. Research what you want to buy. Put it in writing: make a list, a budget for how much you’re willing to spend, then look out for additional coupons and deals.

If you find yourself eyeing up a new propane grill that’s not on your list, take note and walk away. That’s next summer’s dream to plan for. You’ll likely see one on sale next year – and you’ll have 12 months to plan your purchase.