Yahoo Finance 10 Big-Ticket Purchases Frugal People Never Make During the Holidays
When it comes to the holidays, frugal people generally avoid purchasing certain big-ticket items.
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More often than not, this is because these purchases are unreasonably expensive or not practical enough to justify the cost. Some of these items are even marked up during the holidays since they’re in higher demand than usual.
If you live a frugal lifestyle or are trying to limit overspending on big-ticket purchases, here are the top items you should avoid buying during the holiday season.
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Electronics
Although certain electronics go on sale during the holidays, especially around Cyber Weekend, many are still on the expensive side. For frugal shoppers, waiting until after the holidays or even until January can result in some major savings.
“While it may be tempting to snag the latest gadgets during holiday sales, frugal individuals recognize that electronics are often priced more competitively after the holiday season,” said Chris Froome, founder of Crazy Cyclists. “Waiting until January or February allows them to take advantage of post-holiday markdowns and clearance sales, helping stretch their hard-earned dollars further.”
Rashid Khalifa, chief customer officer at Roowaad.com, agrees. He said, “High-end electronics, like the latest smartphones or gaming consoles, often see significant discounts shortly after the holiday rush, so waiting can save a considerable amount.”
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Major Home Appliances
Large home appliances, like dishwashers, refrigerators and oven ranges, also typically go on sale after the holidays are over. That’s why most frugal people avoid buying these things until then.
“Frugal individuals wisely delay their purchases, knowing that prices tend to stabilize or even decrease after the holiday rush subsides,” said Arsh Arora, founder of TV Schedule Today. “Waiting allows them to take advantage of sales, clearance events and new model releases, ensuring they get the best value for their money.”
Vehicles
Purchasing a new or used vehicle can be expensive, no matter when you buy it. But, according to Michael Guinan, founder of Subscription Stopper, it’s all too easy to overspend during the holiday season.
“The end of the year may bring enticing deals, but savvy spenders avoid this period for car shopping,” Guinan continued. “New models are introduced, making it tempting to overspend on the latest features.”
“Frugal people understand that purchasing a brand-new luxury vehicle during the holidays can lead to inflated prices,” added Froome. “The demand for these cars tends to peak around this time, giving dealerships more leverage.”
Increased demand also means busier dealerships. And busy dealerships tend to have more leverage, making it difficult for frugal shoppers to negotiate prices.
Mattresses
Having a high-quality mattress is key to ensuring you get a good night’s sleep, improving your overall mood and more. But frugal shoppers are keenly aware of the high price tag that comes around the holidays and will wait until better deals to buy.
“Mattresses are one thing that I would never buy around the holidays,” said David Kemmerer, CEO of CoinLedger. “There are simply too many other times of the year where you can get a better deal, guaranteed. Memorial Day, for example, is consistently when mattress sales are at their very best. Labor Day and President’s Day are other great weekends for mattress sales.”
Designer Clothing
Many designer clothing brands are unreasonably priced during the holiday season, which is why frugal individuals tend to avoid buying these items around this time.
Harrison Tang, CEO and co-founder at Spokeo, pointed out that although the holiday season can bring many sales, the high cost still might not align with the individual’s lifestyle preferences or needs. “I myself avoid buying branded or designer clothes, even during the holiday season,” he said.
Nikita Beriozkin, director of sales and marketing at Blue Sky Limovail, added, “By prioritizing value over current trends, frugal shoppers can build a stylish wardrobe without breaking the bank.”
Vacations
Flights, hotels and activities are often more expensive around the holidays, so most frugal people will wait to book a trip until prices go down.
“I would say one big thing I can think of that frugal people will avoid around the holidays are big, expensive trips or vacations,” said Carter Seuthe, CEO of Credit Summit Debt Consolidation. “Holiday travel is always going to be far more expensive and inconvenient than off season travel, so the frugal people I have worked with tend to prefer saving trips for times of the year when things will be more affordable and less crowded.”
Expensive Jewelry
Rings, watches, necklaces and other luxury jewelry pieces might make for great holiday gifts, but they’re also pricey — especially around this time of year.
“Holiday markups on jewelry are common,” said Guinan. “Frugal shoppers prefer waiting for off-season sales when prices are more reasonable and the selection is still plentiful.”
Even waiting for a month or two after the holidays can result in significant savings for frugal consumers.
Furniture
Furniture is another purchase frugal people tend to avoid during the holidays.
According to Christenda Costa, CEO of Gadget Review, “Big-ticket furniture items are not the best things to buy during the holidays. They may be on sale, but they are going to be far more discounted during other times of the year, like Memorial and Labor Day weekends. So, if you can wait to buy your new couch until one of these weekends rolls around, I would.”
Lavish Parties
The holidays are a prime time to host large get-togethers or parties, but these events can quickly become expensive — a frugal person’s nightmare.
“Frugal individuals may opt for simple gatherings like a potluck-style dinner with DIY decorations,” said Tang. “This enables them to keep their expenses in check while enjoying the festive season as well.”
Real Estate
For some people, the holiday season might seem like a good time to shop around for residential properties. After all, there are likely fewer buyers, which means less competition and more room to negotiate prices.
But there’s a catch.
“The real estate market tends to be less active during the holidays, and sellers may be more motivated to close deals,” said Arora. “However, frugal buyers recognize that this could also be a reflection of the limited availability of quality listings.”
While it’s definitely possible to find quality properties during the holidays, the hustle and bustle of the season might also make it better to wait. Plus, by waiting until after the holidays, prospective buyers can benefit from a broader selection of quality property listings. And as long as they put in an offer at the right time, frugal people can still negotiate for more favorable terms.
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This article originally appeared on GOBankingRates.com: 10 Big-Ticket Purchases Frugal People Never Make During the Holidays
