A person watching their new television.

Save Money On A New TV

Looking for a new television? Be careful, because things can get out of hand real quick and you can end up spending more money than you intended. Before you go shopping, let’s take a look at a few easy ways to save some money on your purchase.

Television prices can vary quite a bit, depending on what exactly you are looking for. There are all kinds of televisions out there, from small generics to huge premium brands. What they all have in common though is that you can save a lot of money on them if you do your due diligence. Take the time to find the best deal and get rewarded with some substantial savings. Here are 5 easy ways for you to save money on your next television purchase.

1. Shop Special Events

Stores love to take advantage of holidays and special events to bring the customers in. Often times, they drastically discount hot items like televisions in order to get customers in to buy even more expensive items. They might, for example, slash the price on a 40 inch television in order to get you in and convince you to by a much larger screen.

If you are disciplined, you can take advantage of these sales. Just don’t let them switch you. Shop the ads and shop early to avoid the risk of them running out of the television that you want. Some great holidays to shop include Presidents Day, Memorial Day and of course, Black Friday.

2. Buy Interest Fee

Financing, especially with a store card, can be a risky matter. If you know to be cautious though, you can take advantage of some great financing deals.

The advantage of buying interest fee, even if you have the money to buy outright, is that you take advantage of inflation. Buy a television now with 900 dollars cash and that is what it costs you, 900 dollars. Spread the payments out over 3 years and the money you pay later is worth less. 900 dollars in 3 years would be worth closer to 800 dollars in today’s money, when you factor in inflation.

There are risks involved in financing your purchase however.

The primary risk is not paying your purchase off in time. If you do not completely pay it off before the plan expires, you will be charged the interest that has been accruing. Avoid this risk by setting up automatic installment payments for the correct amount. Aim to get your purchase paid off a month early to avoid errors.

Another risk is that financing can make you buy more than you need. If you do not have to part with your hard earned cash, you might buy a more expensive television. Stick to the plan and get the set you originally planned on.

3. Price Shop Your TV’s

Most of us have favorite retailers and just assume that they are getting the best deal. This is not always the case though.

It pays to price shop for a major purchase like a television because, depending on the TV, the difference could be hundreds of dollars. Be sure to check both local stores and online retailers.When shopping online, look for promo codes that could save you money on your purchase or even give you free shipping.

A good way to find these promo coded, with almost no effort, is to download a browser extension like honey. The Honey browser extension automatically applies coupon codes and even looks around for better prices. When shopping at places like Amazon, it will even show you a price history so that you know if prices have been cheaper.

4. Buy Pre Loved

If you do not need to have the latest and greatest, you can save a fortune buying your televisions used.

Those people who do have the technology bug are always upgrading. This means that there are a lot of one or two year old televisions on the market available for a fraction of the cost that they were new.

When you buy used, you can save 50 to 70 percent or more off the price of a TV. That set that sold for 1500 dollars a few years ago might be just 500 dollars right now.

5. Buy Less Television

If you need to buy new, think long and hard about what features that you really need.

If you already have a smart device, for example, do you need to get a smart TV. Smart TV’s can be hundreds more and they could be a costly choice if you need to upgrade the smart device in the future. A newer Roku, for example, might be just around the corner. If you get one integrated with your television, you are stuck with it.

Also, consider what size and definition that you really need. Is getting a TV that is 5 inches bigger really worth paying double? Also, do you need to have the best high definition TV when most current programming probably doesn’t support it?

Wrapping Up

Getting a new piece of electronics can be a very exciting thing. That being said, all of those shiny things can cost a pretty penny and wreck a budget.

Take the time to do your research and plan your purchase to avoid paying more than you intended to or can afford. Shop with restraint and, in the end, you will be a happier and wealthier person.

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James Car is a finance, loan and budget expert based in the United States. After attending Brookhaven college, he went on to become a successful entrepreneur. He now enjoys writing articles that help people save and make the most of their money.