Furniture, appliances, cars and more: Where to find the best deals
Welcome back this morning on today's consumer. We are focusing on those president's day sales Yeah, inflation is putting a strain on your budget It could be a great day to find a few deals But of course there are things you need to consider joining us now as CNBC is seeing your personal finance Correspondent Sharon Epperson sharing good morning to you. Good morning. All right So before we get into it you say before we get to the deals You have three questions that you want people to ask themselves very important questions to ask first of all Do you need it? Do you love it and can you pay it off immediately? And so it's not just can you afford it because you're probably gonna put it on a credit card Yeah, you don't want to carry that interest on the credit card You want to be able to pay that off immediately or that savings is really something you're gonna be paying for For months and months in interest. So can you pay it within the month before you get that bill? Exactly. All right fair enough. That's a good life lesson.
Not just for president's day Speaking of president's day talk to us about some of the deals Well, there are a lot of different deals a lot of people look at mattresses for president's day furniture, maybe electronics You may think about home appliances large ones or little gadgets for your kitchen maybe even a new car So there are a lot of different deals out there I think I seem to be getting messages all the time about this deal or that deal for president's day doesn't necessarily mean It's something that I need so I kind of delete that message. Okay So you were saying it what about like kitchen or the kitchen appliances are we talking like coffee pots or like? Refrigerators like big ticket items. There are some big ticket items too They are that you can get one of the things to keep in mind when you're talking about Appliances whether they're large or small as you're often sold a or asked to purchase a Warranty and extended warranty or sometimes a service agreement Okay, important thing to check out there is to make sure that you actually really need that because it's not gonna be lasting that long And that you could use that money perhaps to put into a savings account to buy a new one What's the replacement cost of that? Do you really need to buy the the? Extended warranty or the service agreement service. All right. Let's let's dig a little deeper here I know a family shopping around for a TV is our electronics good right now. Is it a data shop for electronics? Well, there are large like Electronics some people want TV some people want a laptop or maybe something else for their you know sound system or something like that again The important thing to think about is one not carrying that credit card that if you're gonna put it on the card But also think about how much that energy use is costing you in your home I'm thinking about everything that I have on in my house right now, and I'm not there Why do I have my TV on or my laptop energy vampires the energy vampires the energy vampires could cost up to 250 Dollars a year in your house if there's second energy you don't use it So think about that as you're thinking about what to purchase keep in mind that maybe you don't need that extra TV or if you get it Don't have it on all the time. Okay.
They're looking for a car is now the time a new car Well, there are gonna be some deals out there for new cars inventory is not tremendous So they're gonna be special deals for certain models but again the thing to think about is how are you gonna pay for this car and Shopping around to get the best loan is very important You're gonna see perhaps six percent or more for a five-year car loan on average You could go to a credit union and get far less than maybe you pay through the dealer in terms of the loan or even a bank So make sure you shop around for a car loan and look at credit unions for a good place to get that loan real quick on that before We go should you call first or just go on the website? What's the best when you're dealing with credit unions or the banks? Well, I think it's great to go on websites that kind of consolidate all of the different give you all the different options to look at And then I absolutely think it's you should be calling or contacting the financial institution directly But advice. Thank you Sharon. Yeah, happy. I guess shopping But then I was about to say I guess president's shopping, but she'll have to be smart about it Smart shop exactly for more on the holiday sales be sure to check out today.com Slash shop. Hey, thanks for watching. Don't miss the today show every weekday at 11 a.
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