When your appliances break down, it can strain your budget.
But there are ways to save money and stretch your budget further.
One easy tip is to purchase appliance bundles, which often cost less than individual items.
Another is using energy-efficient appliances that will save you money on operating costs.
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Shop Around
Many retailers offer price-matching policies that match a competitors prices.
This is a great way to get the exact appliance you want without spending more than you should.
This also allows you to avoid getting talked intoupgrades or features you dont need.
Another way to save when shopping for appliances is to buy them as a package.
For example, you might often save on a stove and refrigerator by buying them together.
Buying new appliances can be tempting, especially when the old ones break down.
However, taking a step back and analyzing the situation is important.
Planning and using the tips above can save money and avoid debt.
Plus, youll have more cash for other household expenses or even a vacation.
The extra cash will also help you establish a savings account.
This will give you peace of mind and help you recover financially.
To save money, look for appliances with a high-efficiency rating.
To determine how efficient a product is, look for itsCEE or ENERGY STAR label.
Also, avoid purchasing appliances with bells and whistles.
These extra features might seem cool, but they can increase yourelectricity billsignificantly.
Instead, opt for a simple model with the necessary functions to reduce electricity consumption.
Buying your appliances on sale is also important to save as much as possible.
Retailers often offer seasonal sales, such as Black Friday and Christmas.
For example, national retailers often offer price-match guarantees.
They can even extend this to in-store appliances, albeit with some fine print and exclusions.
Other retailers offerrebates on appliancesbundled together in the same transaction.
They may offer 5% or 10% savings when you purchase four appliances from one brand.
Some stores also offer rent-to-own programs, where you lease an appliance instead of buying it upfront.
A polite but firm counteroffer is often worth5% to 10%off the sticker price.
And dont forget that shopping online using multiple browsers can effectively compare prices and find the best deal.
Of course, sometimes unexpected expenses can wrench your finances no matter how well you budget or plan.
However, its important to understand the interest rates and fees when choosing an appliance financing option.
Personal loans typically have lower interest rates than credit cards, saving you money in the long run.
Another common financing method for appliances is the rent-to-own option.
This lets you lease the appliance and make weekly, bi-weekly, or monthly payments.
After a set amount of time, you will own the appliance outright.
This usually requires a minimum credit score of 580 or more, but requirements vary by store.
In-house appliance financing can also be more affordable than renting to own through a third party.
Its always a good idea to shop around to find the best options.
