Money Rehab with Nicole Lapin - Unlocking Memorial Day Weekend's Biggest Sales

Episode Date: May 25, 2023

Nicole shares the biggest bargains to look out for this weekend, plus one cautionary tale.

Money rehabbers, you get it. When you're trying to have it all, you end up doing a lot of juggling. You have to balance your work, your friends, and everything in between. So when it comes to your finances, the last thing you need is more juggling. That's where Bank of America steps in. With Bank of America, you can manage your banking, borrowing, and even investing all in one place. Their digital tools bring everything together under one roof, giving you a clear view of your finances whenever you need it. Plus, with Bank of America's wealth of expert guidance available at any time, you can feel confident that your

money is working as hard as you do. So why overcomplicate your money? Keep it simple with Bank of America, your one-stop shop for everything you need today and the goals you're working toward tomorrow. To get started, visit bofa.com slash newprosmedia. That's b-o-f-a dot com slash n-e-w pros p-r-o-s media. bfa.com slash newprosmedia. I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. it's time for some money rehab. Well, the start of summer is technically June 21st. I'd argue it's unofficially Memorial Day weekend. Memorial Day weekend is, of course, the beginning of barbecue season, the moment the East Coast starts warming up and when I guess we can wear white until Labor Day. And you know retail in America, brands love to pepper in sales on a big three-day weekend,

and Memorial Day is no exception. We all know the major players in the holiday sales game. The biggies are Memorial Day, Black Friday, Cyber Monday, and Labor Day. But not all sales are created equal. In fact, each holiday has its own niche where you can expect to see sales on certain products and not others. I see folks run into issues where they hold off on buying something they need because they expect that around these holidays, they're going to get a big deal.

That is not necessarily the case. For example, your vacuum may have taken its last justy breath and you've been planning on finding a replacement on Labor Day, where you're sure you'll be able to pounce on a great deal. But on Labor Day weekend, you're not going to see too many deals on vacuums specifically. Those roll around on Monday, Memorial Day. So skip the guesswork. Today I'm going to be guiding you through what you can expect to actually save on this

Memorial Day. Number one, mattresses. to be guiding you through what you can expect to actually save on this memorial day number one mattresses you guys i cannot explain it but memorial day weekend is like the super bowl for mattress companies normally we see price trends around supply and demand right like you can expect to get a winter jacket for cheap during the summer because demand for those are low so i just can't explain why all the best mattress deals happen around Memorial Day weekend. It's not like there's a decreased demand for sleep in the summer or mattresses. And yet, come Memorial Day, the whole mattress community comes together and puts their stuff on sale. So if you're thinking of getting a new mattress within the next year, now is the time. You can

find some pretty sweet deals in your typical specialized bedding stores or general department stores. 2. Jumbo Appliances On Memorial Day weekend, retailers will slash prices on many home appliances like refrigerators, washing machines, dryers, dishwasher stoves, and yes, vacuum cleaners. So keep your eyes peeled for discounts, package deals, or rebates this weekend. Or if you're a renter, send this episode to your landlord if you need to drop a strong hint that your washing machine needs an upgrade. Number 3.

Travel. Yes, I saved the best for last. I'm actually surprised how few people take advantage of this. But travel agencies, travel tools like Expedia and Kayak, airlines and hotels put discounted rates and special vacation packages on sale on Memorial Day weekend. In order to take advantage of this, though, you'll have to use the strategy that Scott Keyes gave me when he came on Money Rehab. Optimize for price rather than destination. In other words, when most folks take a vacation, it's common to choose the destination first and then look at the prices.

But Scott says you'll be able to get the best deals if you search by price and then reverse engineer, keeping the destination flexible. So if you use Going, Scott's app, you can get travel alerts for cheap flights to a bunch of different dreamy destinations. And honestly, a beach is a beach is a beach. Other apps like Skyscanner and Hotwire also have features that can help you discover flights based on your price point if you're flexible on your location. So if you're looking to scratch that travel itch, shop around your favorite travel sites this weekend. And those are my top three

tips for finding deals this weekend, but I also do have a cautionary tale around what to avoid. A lot of experts will tell you that Memorial Day weekend is also the best time to buy outdoorsy things like outdoor furniture, grills, bikes, hiking gear. What I would say is this. Yes, of course, peruse the site of your favorite department store to see what deals might be out there. But historically, these types of deals are way bigger on Labor Day. And that makes sense, right? Labor Day marks the start of fall and therefore cooler temperatures in most parts of the country. So the demand for outdoor essentials will be lower in colder weather and based on what we know about supply and demand, with lower demand, prices drop.

Memorial Day weekend, on the other hand, is the kickoff to summer. Everyone wants to be spending time in the sunshine, so I'd keep your BS Raider on high alert if you see any deals for outdoor goodies. The deals might actually be there, but they're probably pretty weak, like a buy one get one free situation or a spend $500 and get $2 off offer. Something lame with an ROI that's too low to be a real perk. For today's tip, you can take straight to the bank. Many big companies like Target, Walmart, and Macy's are all trying to set themselves apart from competitors during Memorial Day weekend, so they'll entice shoppers with a loyalty discount. Do some digging online, and if you need to opt into emails in order to get 10% as a discount, just do it. You can also set up a separate email account for all of those subscriptions where you don't get bombarded

with them. You can also just unsubscribe come June 1st. Sorry, not sorry. Just make sure you're signing up for a loyalty account and not a loyalty credit card. That is a whole different can of worms, and we don't need to take advantage of those kind of deals this weekend. Money Rehab is a production of Money News Network. I'm your host, Nicole Lappin. Money Rehab's executive producer is Morgan Lavoie. Our researcher is Emily Holmes. Do you need some money rehab?

And let's be honest, we all do. So email us your money questions, moneyrehab at moneynewsnetwork.com, to potentially have your questions answered on the show or even have a one on one intervention with me. And follow us on Instagram at Money News and TikTok at Money News Network for exclusive video content. And lastly, thank you. No, seriously, thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make.