Ten Purchases to Avoid During the Holidays

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The holidays are around the corner, and stores across the country are gearing up for a busy month. The festive mood gets everyone in the spirit of giving and, consequently, spending. This is great news for businesses especially since most people do not mind spending a few extra bucks on certain products. However, for a smart shopper, the holidays are a cautious time. If it is not absolutely necessary, then there are some purchases that you should put off until the end of the holidays for your financial wellbeing. Here is a list of purchases to avoid during the holidays.

Jewelry

Every woman wants to shine during the holidays, and most men cannot seem to think of a better gift than jewelry. Good jewelry is always expensive, but prices surge dramatically during the holidays. In fact, prices can hike but as much as 25% in many stores, especially in exclusive jewelry stores. What’s more, you do not have many choices to choose from thanks to the high demand. If you have to get yourself or your sweetheart a piece of jewelry for the holidays, then it is best to get it several weeks beforehand before the market gets in a frenzy.

Car

There are few better ways to close the year in style than with a new car. And, fortunately, the holidays are an excellent time to buy one. However, timing is very important as prices fluctuate quickly. Car dealerships tend to hike prices just before the holidays kick off, and, considering the average cost of a car, the hike can translate to over $1000. What’s more, car dealerships tend to stock on expensive flashy cars during the holiday thanks to people’s willingness to overspend. Fortunately, however, car prices tend to drop significantly when the holidays are coming to an end as most car dealerships prefer to clear their inventories before the beginning of the next year.

Holiday cruises

Cruising sounds like an exciting way to spend the holidays, but it is a bad idea in two aspects. To start with, cruises are usually overcrowded during the holidays thanks to the free time and the festivity mood. Second, the high demand for cruises during the holidays leads to a hike in the cruise prices. Consequently, you end up paying more than you should, but still you do not get the chance to make the most out of it thanks to the crowds. A cruise is enjoyable during any time of the year, and you will find great deals during the beginning of the year when demand is low.

Furniture

What better time to spruce up the house than during the holidays, right? Well, it is only appropriate since you will likely be receiving guests. However, it will cost you a lot of money. This is because furniture stores are usually busy during the holidays, and this is when they bring out the best of their inventory. This, coupled with the demand and festivity, pushes the prices much higher than during the rest of the year. It is best to wait until after the holidays as most furniture stores offer huge discounts as they try to clear their inventory.

Gift cards

A gift card seems the best gift to get friends and loved ones when you cannot think of a specific gift. And, unlike other items on the list, gift cards are affordable. However, most are usually a big waste of money. This is because most people are usually so occupied that they do not make use of their gift cards during the holidays. Others find it better to sell the gift cards on sites such as eBay for a fraction of the price.

Winter sports gear

It may be difficult to resist the urge to go play out in the snow during the holidays, but the high prices of winter sports prove to be a sufficient deterrent. Sports gear such as ski shoes and snowboards tend to hike during the holidays thanks to the high demand. To be on the safe side, consider buying your winter sports gear during spring or summer as prices can be lower by up to 25%, according to analysts.

Perfume

It is ridiculous to think of a holiday (or any other time, for that matter) without a nice fragrant scent. Besides, how much would perfume cost even during the holidays, right? It is true that nothing should get in the way between you and your perfume, but it is advisable to buy it before or after the holidays to save some money. Perfume stores hike prices during Valentine’s Day and December holidays by even more than half the original price. What’s more, the high demand means that all the popular brands go first, so you may have few options to choose from.

Holiday decorations

The holidays would be incomplete without holiday decorations. Unfortunately, holiday decorations are seasonal products whose prices fluctuate with time. During Christmas, decorations can cost even twice as much as they should. To this end, it is always advisable to buy decorations some time before the holidays and keep them properly stored for the next year’s use. It is unavoidable to buy a few decorations during the holidays. However, major décor should be durable to make it viable for use all year round. That way, you can save some money and spend only on small decorations.

Handy tools

Handy tools can come in handy during the holidays thanks to the extra free time. And, unlike most other purchases on the list, their prices do not fluctuate by much. However, there are two things you should consider before buying the tools. First, handy tools will keep you occupied and rob you of your quality time with friends and family members. What’s more, you can save a lot of money by buying handy tools on special occasions such as Black Friday and Fathers’ Day.

Gadgets

Electronic gadgets such as TVs, phones, and computers rank among the most popular purchases during the holidays. The holidays are a good time as any other to purchase electronic gadgets, but it depends on where you shop. This is because although some stores offer discounted prices on most gadgets, others hike the price in anticipation of the high demand. Besides, gadgets get in the way of socializing, and the holidays are all about coming together and socializing.

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