It’s that time of year again. The end of financial year sales are upon us and everybody is itching to throw down some cash. But before you give away your pretty pennies, read our top tips on how to make the most of this year’s end of financial year sales.
By Michelle Balogh, Money Maven
Fashion
When it comes to big discounts on fashion, the obvious place to start is at the big department stores. That said, there’s no point rushing into the city and flying blind. First of all, make a budget, before all the flashy discount signs have you drawing your wallet to quickly.
We also recommend doing some research before you take on the EOFYS madness – search your favourite brands online and find out which stores are offering discounts on your favourite looks. This year, David Jones is offering 40% off womenswear from Maurie&Eve, Collette by Collette Dinnigan and Shona Joy. If you’re shopping for your man you’ll also want to hit DJ’s for 70% of all menswear from Ksubi.
At Myer, you’ll find a different set of brands on sale and a different set of discounts. With 30-50% off Aurelio Costarella, Fleur Wood, Kate Sylvester, Manning Cartell and Maticevski, they’re offering plenty of enticement to face the crows.
But the discounts don’t stop in the stores. Remember that all your favourite online retailers will be slashing prices too. Market HQ are offering up to 75% off their fabulous fashions and everybody’s favourite online destination, ASOS, have free shipping for the EOFYS season.
Electronics
These days our smartphones, laptops, tablets and iPods make up a huge portion of our annual expenditure. With that in mind, get ready for the next year’s technological needs by buying up whilst prices are at their lowest.
When it comes to electronics, it pays to do some serious research, paticularly when it comes to reading consumer reviews. Ratings and reviews online will reveal the secret surprises (short battery life, flimsy casing, unreliability) that hid behind the sleek branding of your most desired electronics.
Once you know what you want, it’s time to hit the shops. If you’re after the most popular items (particularly anything with a lower case ‘i’ at the start of its name) we recommend getting in as soon as possible. However, if it’s a more unknown laptop or camera that you’re after, the longer in June you leave it, the better the bargain you’ll score. If you miss the boat, it can also be useful to check out the prices on July 1st. Whilst pickings are slim and you probably won’t find your dream item, the mania will have died down, the shops will be empty and there will be a few stray (but substantial) bargains left.
eBay are offering up to 40% off their office section for EOFYS, and have a vast range of computers, tablets and accessories. If you’re a PC fan, Dick Smith are offering 20% off all Acer laptops.
Cars
The end of the financial year is the best time to buy cars as prices plummet. If you’re wondering whether or not to hold off until the end of June to make a purchase, remember, patience is a virtue. Salespeople who are anxious to achieve a monthly quota will work harder to secure deals at the end of any month, and particularly at the end of the financial year. As the last week rolls in, the pressure increases, so seize the opportunity and be bold in negotiating the best price for you.
Do your research and don’t let the frenzied excitement of EOFYS cause you to impulse buy. Be skeptical in your choices and don’t be afraid to ask your salesperson any questions that come to mind. Ask yourself questions too. Do you really need bucket seats or a sunroof? Is there really enough space in the boot for your summer holidays? All of these requirements will come back to bite you if you purchase too hastily.
