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What You Should Buy in July: a Shopper’s Guide

By U.S. News & World Report

If there were a modern-day bloodsport, summer shopping could be it.

Last year, Americans spent $83 billion on purchases and travel during the summer months, according to the National Retail Federation. That’s up from $78 billion in the previous year. Lower gas prices and higher consumer sentiment has fueled the spend fest, but there is something more: the so-called “reputation economy.”

“Ninety-two percent of consumers look at review and ratings online before making a purchase decision,” says Naveen Gupta, CEO of BirdEye, a reputation-management and customer-experience company. “Retailers realize how fierce the competition is to acquire customers. One way to make them stick and gain customer love is by having competitive prices. The idea is simple: If retailers want to win, they must have [the] best prices, customer experience and reputation.”

[See: 10 Oddly Practical Things You Can Rent.]

With so many retailers vying for those customer dollars, it’s hard to figure out what you should buy now versus later in the summer. Here’s a breakdown of five things you should leap on and wait for.

Buy Now: School Supplies

Research from RetailMeNot.com finds that over 65 percent of parents will be looking for deals when back-to-school shopping this year. While it might seem counterintuitive to purchase school supplies right after your children left school, stores like Wal-Mart and Amazon are willing to bet you’ll interrupt your summer fun to score great deals on basic supplies.

Amazon launched Prime Day July 12 th with discounts of up to 70 percent off on merchandise, including supplies like Elmer’s Glue.

Wal-Mart is also trying to ramp up efforts to score customers by launching its own free, 30-day trial of its unlimited two-day ShippingPass ($49 annually) along with price cuts on thousands of products including back-to-school items. For example, 24 count Crayola crayons are being sold for 50 cents and a 1-inch durable view binder runs $1.92. Need an abundance of glue sticks? Wal-Mart has your back: You can get Cra-Z-art two-pack glue sticks for 10 cents.

[See: Your Month-to-Month Guide to Savings.]

Buy Later: Electronics and Computers

Skip this category when shopping for back-to-school supplies in July. Why? Stores like Best Buy, Staples and Office Depot have massive promotions during August in order to get people in the door. Discounts can be between 20 to 30 percent off for smartphones. In some cases merchandise like tablets and laptops will be marked down anywhere from $100 to $400.

Buy Later: Luggage

Summer is peak travel season. The luggage industry knows it and marks up luggage for last-minute travelers by as much as 30 percent! If you can, deal with your old bags until March. If you’re desperate, try purchasing older luggage models that will be discounted at stores like JCPenney, which has luggage sets for between 40 to 50 percent off.

Buy Now: Exercise Equipment

Summer months, specifically July, are when fitness retailers try to clear inventory. With warm temperatures comes a general shift to outdoor exercising, sending sales of indoor exercise equipment down, leading to deeper discounts of up to 30 percent off.

Buy Later: Garden Tools

Would it surprise you that Father’s Day is the perfect time to purchase tools for the garden? Stores like Home Depot and Lowe’s put merchandise on massive discount so they can get the Father’s Day spend. But if you weren’t able to get in on these sales, you should wait until Labor Day, when you can take advantage of discounts on rakes, shovels and gloves of up to 30 percent off at Home Depot and Lowe’s.

[See: 10 Ways to Save While Gardening.]

Temperatures are sizzling across the country, but if spending another day baking at the pool seems repetitive, boring and hot, now may be the time to stock up on those basic school supplies and exercise equipment. AC (either at the mall or from the comfort of your own home) and incredible discounts will be the reset you need embrace the last remaining month of summer. What’s more, you’ll have a head start on crucial fall and winter shopping!

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What You Should Buy in July: a Shopper’s Guide originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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