After Bankruptcy: Smarter Spending Tips to Save More MoneyAfter filing bankruptcy, there’s no denying that you’ll need to learn new financial habits, such as smarter saving and spending techniques.  You also know that buying much-needed products during a sale will inevitability help to plug up wasteful spending and help you put more money towards your savings.

But sales often occur at random times, and usually arrive without much fanfare.  Add to the fact that many sales often run out of popular items in the first couple of days (after all, how many times have you tried to buy a needed sale item for your car or home, only to discover that it’s been sold out?), and it may seem as though getting full-priced items for much less is a combination of timing, chance and pure dumb luck.

Or is it?

Sales aren’t randomly occurring events; in fact, research has shown that price reductions often follow a very real and measurable calendar.  And if you want to make the most of your clean new financial slate after declaring bankruptcy, it’s time to learn the best times to buy what you need:

  • Buying Clothing and Electronics. Did you know that clothing stores follow a regimented sales schedule?

That’s right – and the best times to buy clothing and other goods are not when you think.  Christmas and back-to-school sales have nothing on these goldmine months for retail shopping: January and July.  In these two months, stores are desperate to get rid of seasonal items in order to stock up for the new season.  So do all of your clothing shopping during these crucial sales months, as you’ll save a significant amount of income on reduced-price clothing and electronics.

  • Purchasing a Car. After bankruptcy, you may think that buying a big ticket purchase item such as a car will be out of your spending range.  However, this isn’t necessarily the case – if you time your buy right, you could get a car for just pennies on the dollar (talk about bankruptcy friendly!)

You might think that you have the scoop on when to buy a new car: at the end of the month.  While this is an invaluable tip for getting great auto deals (after all, car sellers are desperate to meet their monthly quota), there’s an even better time to purchase a new or used car: the end of the fiscal year.  Combine this knowledge with your previous end-of-the-month tip, and June 30th will quickly become your new favorite time of the year!

With all this extra money you’ve saved, you can start building up your savings account – and ensuring that you’ll never travel down the bankruptcy road ever again!