How to Shop Going Out of Business Sales
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How to Shop Going Out of Business Sales

Posted on Wednesday, August 19th, 2020 at 7:00 am
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The COVID-19 pandemic has caused many stores to go out of business. Some of them are well-known brands that have been around a very long time. There is opportunity for smart shoppers to get the best deals from going out of business sales.

It may be tempting to buy things that you don’t actually need. Before making a purchase, take a minute to think about whether or not you actually have a use for the item. For example, replacing your old coffee maker with a new one – at a discount price – is a good idea. Buying clothing you won’t wear is a waste of money.

Do you have gift cards for the store that is closing? Now is the time to use them up! Before you visit the store in-person, check the store’s website to see if it is still accepting gift cards. Do you have coupons? The store may or may not take them, so keep that in mind as you shop.

The best deals aren’t likely to happen immediately. Going out of business sales are similar to clearance sales. The products included in the sale start of at a discount. As time goes by, the discounts increase. The longer you are able to wait, the better a deal you will get. However, there is a chance that the item you want will sell out if you wait too long.

Are you planning on buying an appliance from a going out of business sale? Doing so can be a bit of a gamble. Before you make the purchase, find out if the warranty is with the store that is going out of business, or if it is with the manufacture of the appliance.

The manufacturer of the appliance will likely continue to be in business after the store you bought it from closes. That kind of warranty is less risky than one from the store that won’t exist much longer.

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Good Tip: Saving money is important – especially if you have a lot of expenses like bills to pay, loans to pay off, and all the other things that drain your bank account. Figuring out a way to save money can feel tedious to some, and like a punishment to others. U.S. News suggests that you try one of these money saving challenges. The “No Eating Out for a Month” Challenge This one is self-explanatory. The goal is to avoid eating out for an entire month. This might be super easy for people who enjoy making meals at home. People who really enjoy dining out, or ordering food to be sent to their home, may struggle with this one. It’s worth a try because spending money on take-out is more expensive than buying groceries. The Pantry Challenge This one is a variation of the “No Eating Out for a Month” challenge. The goal is to use up all of your groceries before you buy more. It forces you to try and remember why you bought a food or beverage that you don’t know what to do with, and gives you the opportunity to find a way to use it. The one exemption to this challenge is the foods that have expired. Don’t eat them! Throw them in the trash. The “No Spend” Challenge Make a goal to avoid spending money during an entire weekend. The only exemption in this challenge is that you are allowed to pay bills. This challenge is interesting because it requires creativity. You must be creative and find workarounds for problems that you would typically solve by spending money. You may have a different outlook on spending after finishing this challenge.