Know When to Make Big Purchases and Save a Ton of Money

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Welcome to 2017. We've got almost the full calendar year ahead of us, which means that it's a great time to plan out your major purchases for the year. There are a couple reasons that this can bolster your financial security: 1. Planning at the top of the year will help you to budget, so you don't end up running a balance on your credit card. 2. For the big purchases in your life, there is almost certainly a best time to buy.

We've run through the most common big ticket items to hammer out the best time to buy— from furniture, to TVs, and cars— so that you can plan for maximum savings in 2017.

Mattress - U.S. holidays

Nothing will make you feel more patriotic than a good night's sleep, except for a stellar deal on a mattress. Traditional mattress retailers have insanely high markups on their products. The best time to save is during any of the major U.S. Holiday sales — Presidents Day, Memorial Day, the 4th of July.

The good news is that this gives buyers flexibility to plan their mattress purchases. If you have a lot of big ticket items to buy in the first half of the year, then plan for a fall mattress purchase. If you have a lot of spending planned for third quarter, then take advantage of a Memorial Day sale in the spring.

Furniture - February

New furniture styles debut in the spring, which means that the hottest deals happen at the end of winter, specifically February. That's when you'll see the biggest sales. For the best deals, you'll want to ditch online shopping in favor of walking the showrooms to snag "as is" floor samples.

TV - January or November

TVs are pretty much the mascot for big sale days. We all get riled up over the idea of a new TV at a rocking discount. The two biggest sales for TVs are leading up to the Super Bowl and Black Friday, so which one is better? The answer is: it depends what you're looking to buy.

According to Consumer Reports, for most people, the best time to buy is Black Friday. That's when you get the biggest discounts on the whole. For people who are looking for higher end TVs with special features, the best time to buy is January, as we fan out pre-Super Bowl.

Homes - November and December

According to Realtor.com, 50% of home sales happen in the warmer months. It's definitely appealing to shop for a new abode when spring is in the air, and curb appeal is at its peak.

However, if you wait a couple of months, you're more likely to score a deal. Homeowners that close in January tend to score the biggest savings, which means that if you want to get the biggest bang for your buck, the best time to put in an offer is November and December.

Car- End of the month, end of the year, holiday weekends

Okay, based on commercials, it feels like the right time to buy is all the time. Doesn't it feel like they're having a different sale every day? Not to mention every time you walk into a dealership, the salesman will tell you that you picked the right day. It's important to keep yourself informed because purchasing a car at the right time can save you thousands of dollars.

According to Autotrader.com, the best time to buy is at the end of the [blank]. The common advice is buying at the end of the month because the dealers are trying to hit their quotas, so they are more likely to cut you a deal. This logic also applies to showing up at the end of the day or the end of the week— at the end of any of these periods, the dealer is more likely to cut you a deal.

Another piece of advice is to buy an "old"model. Towards the end of this year, dealers will be trying to get rid of 2017 models before the 2018 models arrive. Their motivation to sell can become an asset for you with steep discounts.

If you're planning to buy too much at the end of the year (house anyone?), holiday weekends are another optimum time to buy.