Presidents' Day is right around the corner and is generally a time for can’t-miss sales. As the sales approach, it’s good to know which items will be at some of their lowest prices of the year—especially those big-ticket purchases, where capitalizing on even a 10 percent discount can mean saving hundreds of dollars.
One of the top three items to purchase during this three-day holiday weekend are, you guessed it, appliances. Real Simple found that an analysis by personal finance site, WalletHub, found that the average discount on appliances during Black Friday, one of the top shopping days of the year, is 30%; the Lowe’s President’s Day sale will offer up to 35 percent off certain appliances and other major appliance retailers are likely to follow suit.
Once you’ve identified your next big appliance upgrade, be sure to consider the entire cost of your purchase. Energy.gov reminds customers that when shopping for appliances, think of two price tags. The first, is the deal you’re likely to get if you do your research and strike at the right time. The second price tag to consider is the cost of operating the appliance during its lifetime. This is the price you’ll pay every month on your utility bill for the next 10 to 20 years depending on the appliance. Refrigerators last an average of 12 years while clothes washers last about 11 years. When shopping, review energy labels and look for efficiency features to lower the lifetime operating cost of the appliance.
Energy efficient appliances are the way towards a cleaner and brighter future for everyone, and an easy way to start saving money on your electric bill. Learn more about energy labels and shopping for appliances now to plan your attack. Make the most out of those President’s Day sales by saving yourself some major money.