I’m a Financial Planning Expert: Always Buy These 5 Things Right After New Year’s
Written by
Heather Taylor
Edited by
Ashleigh Ray
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Got a little extra room in your budget to make a post-New Year’s purchase? If you do, you’ll probably want to prioritize buying items that provide a strong return on your investment and are available at a great bargain.
GOBankingRates spoke to Andrew Latham, CFP and director of content at SuperMoney, to learn more about what you should buy after the New Year begins and why. These five items are always worth the money.
Holiday Decorations
If you still see holiday decorations, such as ornaments, festive centerpieces, candles or gift wrap, available at markdown prices, buy the essentials you’ll need for next year while you still can.
Holiday decorations, Latham said, are worth buying after the New Year because post-holiday clearance sales reduce prices significantly.
Winter Clothing
One would think winter clothing and accessories, like coats, jackets, hats and gloves, would be more expensive to buy after the New Year since January is one of the winter months.
This is a common misconception. Latham said stores are preparing to debut their spring clothing collections. Because of this, they’re offering major discounts and markdowns on winter apparel.
Workout Gear
Many Americans set exercise-themed New Year’s resolutions and will want to start seeing them through at the start of January. Latham said retailers know this and will start offering price reductions on fitness equipment, such as dumbbells, exercise balls, yoga mats and kettlebells.
Bedding and Linens
If you didn’t shop for new bedding or linens during the holidays, your best bet is to do it during a “White Sale” in January.
Latham said white sales are a long-standing tradition dating back to the 19th century where retailers offer considerable discounts on sheets, towels and other linens.
Select Electronics and Appliances
Shoppers who didn’t snag electronics or appliances during the holiday season may consider reviewing these categories to determine if they need to buy anything. Think computers, laptops and small kitchen appliances like waffle makers.
“With the Consumer Electronics Show (CES) in January introducing new models, retailers often discount older models to clear shelf space for the latest releases,” said Latham.
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