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Presidents' Day sales: Things to consider

Posted by Allison Knothe  February 15, 2013 02:51 PM

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It’s the first big shopping event since the holidays, and Presidents’ Day is a great time to take advantage of all the big sales out there.

Personal finance analyst Jessica Patel, of Bankrate.com, said this is the perfect time to shop for bedding, mattresses, and linens, as well as winter apparel and even some furniture.

“The main tip I would offer is don’t overspend around Presidents’ Day just because there are sales going on,” she said. “Stick to things that are going to be on sale and known to be on sale.”

Jewelry is one thing that people will have trouble finding good deals on, Patel said. But although Valentine’s Day is over and sale signs will be posted, she explained that jewelry prices likely won’t drop drastically.

Patel said that if you are working on paying off debt from holiday purchases and don’t really need the things listed above, staying home might be the best option for you.

“Unless you desperately need new sheets or a new mattress I would shy away from going out to the stores,” she said. “There will be another sale coming up in a couple of months.”

But if you are venturing out for a certain product, remember to do some comparison shopping online before hitting the store.

The biggest downside to shopping online for linens is that you lose the chance to feel the material before buying it, she added.

And although there won’t be the mass hysteria that you see surrounding Black Friday or other big shopping days, Patel recommends doing your shopping earlier in the day to ensure the products you want will be in stock.

The last thing to remember is that if you have specific stores you plan to visit, make sure its sales are going on throughout the weekend, and not just on Monday.

What’s the number one thing on your Presidents’ Day shopping list?

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This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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ABOUT MANAGING YOUR MONEY
Local finance professionals share insights and advice on issues such as budgeting, managing debt, and retirement planning.

About the contributors

D. Abraham Ringer is a CERTIFIED FINANCIAL PLANNER practitioner and a Financial Adviser with Morgan Stanley Global Wealth Management in Boston. He is registered in MA, NH, NY and several other states to which his articles are directed. For more information please visit www.morganstanleyfa.com/ringer
Financial Planning Association™ of Massachusetts has 900 members who specialize in the financial planning process. Many of its members engage in philanthropic pro bono work in their communities, recommend legislation, elevate public awareness, promote financial literacy, and advocate for sound economic and tax policies.
Odysseas Papadimitriou is the founder of CardHub.com, a credit card and gift card marketplace, and WalletHub.com, a personal finance site. He has more than 13 years of experience in the personal finance industry, and previously served as senior director at Capital One.

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