How to get a bargain in the EOFY sales

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The end of the financial year (EOFY) sales will soon be here. You may have already started seeing advertising or have your eye on something to buy as prices tumble throughout June.

The last chance for businesses to “make bank” for the year is always a fantastic opportunity for consumers to score a bargain too.

The range of discounts and deals is always attractive. In a buyer’s market, the competition between brands for your cash can often see prices continue to tumble right up until doors close on June 30th. You’ll probably be able to grab a fantastic deal in the days after the EOFY too.

While it’s tempting to head straight to the shops or car showroom and flash the cash, it pays to know how to make the most of the bargains on offer.

Here are five things to think about when looking for bargains at the EOFY sales.


1.     Plan your spending to get the best value

Not all EOFY sales discounts are equal.

Instead of thinking about the things you’ve most keenly got your eye on, think about the things you really need that could make a significant difference to your life.

For example, say you’ve been eyeing a new outfit for the last few months and thought about buying it in the EOFY sales. It’ll undoubtedly look great in your wardrobe, but it isn’t necessarily the best value thing to buy in the EOFY sales.

Why not?

Well, you must remember that things like household appliances, consumer electronics, and vehicles like cars and caravans will have discounts too. Not only will these items be subject to more considerable cash savings, but things like clothes tend to be reduced more often anyway. You’ll have plenty of opportunities to buy a new outfit at a discount, but that big-ticket purchase at a fantastic price won’t be around forever!

Plan your spending to get the best value.


2.     Do your research and hold your nerve!

Don’t just rush to the shops as soon as the EOFY sales start! Even if your email inbox and push notifications from retailer apps are all screaming about “Limited Stock,” remember that you’re the one with the power here.

Take time to shop around and find the best deals on the things you want to buy. It’s also worth checking that the price and discount you’re getting are genuine. Black Friday, for example, is notorious for retailers making discounts and deals seem more attractive than they really are, so that’s sure to be happening around EOFY sales time, too.

Once you’ve done your shopping around, hold your nerve!

Prices tend to get even more attractive as EOFY comes into sight at the end of June, especially for things like cars and caravans or big-ticket appliances for the home.


3.     Look at coupon and similar type websites

Getting a bargain doesn’t begin and end with the price on a retailer’s shelf or in a car showroom!

Check out the popular coupon websites to see if you can take advantage of more significant discounts. It is also worth looking at things like cashback deals to see if you can earn from your EOFY sales shopping!

Buy online rather than going to a bricks-and-mortar location might get you a better deal even without a discount code! Even some car manufacturers and dealers offer discounts when you order your new car online, for example. At the same time, if you’re buying appliances, you might be able to take advantage of things like free delivery to complement the saving you’ve made.


4.     Don’t be scared to try and haggle!

Granted, if you’re shopping the EOFY sales in your favourite fashion chain, the price you see on the ticket is probably the price you’re going to have to pay.

Elsewhere, you might have a chance of getting a new refrigerator or household furniture at a much lower price than what you see. And negotiating like hell at a car dealership or when looking for a new caravan should really go without saying!


5.     Consider how you’re spending and not just what you spend

Scoring a bargain in the EOFY sales is about how you pay as well as what you pay.

To help drive EOFY sales, retailers will be pushing things like “Buy Now, Pay Later” to complement their discounts. Not only do you get a great price, but you also don’t even have to pay right away! The same is true if you put all your EOFY sales spending on a credit card.

While it’s easy to see why this might seem attractive, it’s equally as easy to see how you can end up stretching your finances too far during sale season.

Whatever you’re looking to buy during this year’s EOFY sales, plan your spending so that your bargain in June doesn’t turn into stacked up interest and fees in January.

If you’re looking to spend money on home improvements or have your eye on a big-ticket purchase like a car or caravan during this year’s EOFY sales, NOW Finance might be able to help you cover the cost with a personal loan. Get started here to discover your personalised rate, and turn your EOFY sales bargain into an even better deal by spreading the cost to suit your circumstances.


Disclaimer:  This article contains general comments and recommendations only.  This article has been prepared without taking account of your objectives, financial situation or needs.  Before taking any action you should consider the appropriateness of the comments made in the article, having regard to your objectives, financial situation and needs. If this article relates to the acquisition, or possible acquisition, of a particular credit product you should obtain and consider the relevant disclosure documents before applying for the product.

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