The Best and Worst Things to Buy in August -- Savings Experiment

Summer sales are in full swing, but the key to saving money is knowing what to spend your money on. For all you savvy shoppers out there, here are the best and worst things to buy in August.

First, be on the lookout for sales on shoes. In recent years, JCPenney offered a $10-off coupon that reduced shoe prices to as low as $2. It's hard to believe, but it's true. Crocs also slashed prices on select styles, bringing them down to just $9. Meanwhile, Steve Madden had a super sale that discounted their shoes by as much as 70 percent off.

August is also a great time to stock up on summer apparel. At the end of the season, you can get up to 50 percent off on warm-weather clothes at retailers like Eddie Bauer, Nautica and Old Navy. The styles will carry over into next summer, and you can use them for any tropical vacations you may have planned for the fall or winter.

However, August isn't a great month to buy outdoor furniture or patio sets. According to Dealnews.com, Sears and Amazon posted their lowest prices on these items in October. This month is also not the best time to purchase a new bike. You're better off waiting until cooler months, like November and December, to splurge on new wheels.

So, when it comes to taking advantage of summer sales, stick to shoes and warm-weather apparel to get the best deals of the season.

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