It’s that time of year again, and we’re here to help you get more bang for your buck at the end of financial year sales.
Aussies are notorious bargain hunters.
In fact, research by finder.com.au found that almost one in four of people only ever buy clothing if it is on sale.
That’s a great deal of people ready and waiting for discounted prices before they splurge.
And splurge they do! With an estimated $8 billion spent on retail this month alone.
This is the time of year when retailers have their last opportunity to meet their yearly financial goals and turn over old stock, and what better way to entice people to buy than to hold a sale.
But just because there’s a sale, doesn’t mean you should spend willy-nilly.
Keep these tips in mind to make sure you get the best bang for your buck at the end of this financial year.
The end of the financial year (EOFY) is great for scoring some mega discounts because retailers need to clear out current stock and make room for new products.
With fierce competition in the retail market, they want your business even more, so try your luck and ask for a further discount.
Even if they don’t drop the price, they might include a few bonus items.
Buy the big and maybe boring stuff
This is the time of year to buy the big stuff.
The necessity purchases that you often put off buying until absolutely unavoidable.
Things like mattresses, fridges and even TVs are where you’ll make the most savings.
Of course purchasing a few new items of clothing during an EOFY sale might seem appealing, but stores discount clothes more often so focus on the big stuff.
Make a list and check it twice
Avoid impulse purchases by creating a list.
Since nearly everything is on sale, it can be hard to stay focused and only buy things you need rather than want.
Always do your research and really consider whether the product is worth your hard-earned cash.
A great way to save money in the future and really capitalise off of these EOFY sales is by thinking ahead to future events.
Whether it’s Christmas or birthdays, by pre-purchasing gifts during sale periods, you’ll save a lot later on.
You do need to be careful with purchasing presents so far in advance though.
Try to go for items that won’t go out of fashion or toys that are always on your kid’s wish list, like Lego.