What’s the Biggest January Bargain? Hint: You Can Sit On it!

Although your wallet may be burning from holiday giving, or your heart is overflowing with resolutions to get your financial house in order in 2016, January may be the month to get parts of your actual house in order as well.

“January is typically a good month to buy furniture for a few reasons–one of the most important being that manufacturers and retailers are getting new lines in February and in the Spring, so they’re clearing out inventory,” says Marty Gross, founder of Furniche.com.

“In addition, tax season is very important to the furniture industry, as many people use their tax refunds to buy it. People are starting to get their W-2 forms and think ahead, so you see a lot of long-term finance promotions in January,” Gross says.

Analysts say that July is also a good month to buy furniture, because August is another popular month for new releases in the industry and old inventory is cleared out. Gross says November is the worst month to buy furniture, as retailers and manufacturers try to make sales in what is typically the strongest time of year for the industry.

No matter what time of year, if you choose to make some changes to your living space, keep in mind the following:

Don’t Bust Your Budget: You want furniture to be a source of comfort, not a source of stress. Most financial planners say that all of your housing-related costs: mortgage, rent, maintenance, etc., should only total about 30% of your after-tax income.

Find Deals Online: You can find great deals on sites like overstock.com and amazon.com. Also, don’t forget to check out auction sites like ebay and Craigslist.

Buy Used Furniture: You can find beautiful pieces at estate sales, consignment shops, and flea markets that a little refurbishing can turn into a beautiful item that can last a lifetime.

Most important, if you are among the millions of Americans who made resolutions to improve your finances in 2016, don’t feel pressured to buy furniture just because of January discounts and bargains. A coat of paint on something old may better serve your long-term goals.