How to Save Money on Appliances

Home appliances are part of every home. They help us with household chores, like laundry or dish washing. But home appliances can also use a lot of electricity (especially older ones) and eventually need to be replaced. So today we look at some ways to save money on common household appliances.

1. Emergency Appliance Fund

It can be very expensive to replace some of your appliances and if you are as most people you probably didn’t save money up-front to replace these broken appliances.

It’s a good thing to start saving up-front for appliance repair or replacement. Open a savings account (note that you receive high interest) and start saving $25 or $50 a month. This savings account will be your appliance emergency fund. Make sure that you only use the money on the savings account for appliance repairs or appliance replacement.

2. Appliance Budget

But as with everything in live, all things come to an end, an appliance need to be replaced. So before you go out and buy a new one, it is better that you determine what you want or need. For instance: what features the appliance needs to have or does it need to have an energy savings hallmark.

After you determined what you need or want you should determine how much you want to spend. In other words determine an appliance replacement budget.

You need to have this budget in your head before you go shopping. This way you don’t spend more than you want. (Don’t give in to shop assistants that want you to buy a different appliance (usually more expensive) than your budget allows, you need or you want to buy.)

3. Sales

Besides an appliance budget, you should also watch for sales before you go shopping. Pick a brand you want, then call at least three stores that sells the brand (research Internet for prices and which stores have which brand) and ask the store the following questions:

  • What is the lowest price for model xy?
  • Is there a sale in the near future for model xy?
  • Is delivery included?
  • If yes, how much does delivery cost or if you pick up the appliance yourself, how much will you save on delivery costs?
  • Are there installment fees?
  • Will there be additional repair fees that are not included in the warranty?

Note: It is always possible to negotiate about a price, but you need to go to the store. Haggling over the phone doesn’t work. If they don’t want to reduce the price then ask for free delivery, free/reduced installment fees, extended free guarantee or xy additional feature for free.)

4. Energy Efficient Model

Saving energy will save you money, so try to buy the most energy efficient model that comes close to your feature wish list or the brand you want. You can check recent issues of “Consumer Report” magazine for brand comparisons. (Check the appliances for the energy saving label before you buy it.) Energy efficient models will save you money in energy costs over the lifetime of the appliance.

5. Older Models

Some stores have “no frills” models or have a special area in the store with last year’s models. Consider buying such model, because they will cost less than most of the recent versions of an appliance.

Note: you should ask if the guarantee is still valid on these older models!

We hope you’ve learned something and that you save money on the next appliance that you buy!

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