What to Save for In May

May is an exciting month, and not just because of the warmer weather and the blooming flowers. It's the perfect time to start setting financial goals and deciding what to save for. But before you start planning your May budget, there are a few things you might want to save for now for the future.

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Not sure about you, but the month of May can be expensive, with Mother's Day, graduations, kids out of school, and memorial day.

I know we are hit with tons of birthdays as well!

Why It Is Important To Save and Plan Early

When it comes to saving for the month of May, planning for future spending earlier is crucial as it is a great way to save money and reap its benefits. And this is not just a monthly thing, but something you should always do.

You can avoid overspending and impulse buying by planning and saving for next month's purchases.

Setting aside cash for upcoming expenses helps create a budget that aligns with their earnings and priorities. 

Planning for future spending earlier allows people to compare prices, wait for upcoming sales, and avoid the rush of last-minute shopping. 

This practice also helps create a savings habit, increase feelings of financial security, and reduce debt. By focusing on future spending and avoiding instant gratification, individuals can enjoy a better quality of life with less financial stress.

This is why on this list, you will see future events you will need to save money for this month. 

Let's begin.

Save for June's Tools Sales

One thing you need to save for in May is upcoming tool sales. You see, June is the month for major savings on tools, making it the perfect time to invest in some new equipment for your home improvement or DIY projects. 

Father's Day sales in June typically offer great deals on tools and outdoor equipment, so keep an eye out for those discounts. You can save between 30 and 50 percent off the suggested retail price by timing your purchases right. 

Whether you need power tools or hand tools, now is the time to stock up and upgrade your collection. Saving for June's tools sales during May is a smart way to get the tools you need while keeping your budget in check.

Clearance Spring Clothes

May is the perfect time to update your wardrobe without breaking the bank. As stores make way for summer fashion, the clearance racks and online clearance sections will fill up with spring items. Take advantage of these clearance sales to grab some stylish and affordable clothing pieces for your spring wardrobe.

Let's be real. Clear clearance racks are lined with deeply discounted clothing everywhere you look. But why are we seeing this major clearance trend in 2023? 

Inflation is only part of the story behind lagging clothing sales. While price hikes are expected to continue into 2023, other key consumer shifts affect the retail landscape. 

Many shoppers are now value-conscious and looking for a good deal, with more shopping clearance racks, searching for gently used items, and others seeking affordable alternatives.

For this reason, you will find great deals on spring clothing, so make sure you save for this sale this month.

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Pressure Washers 

If you're looking to purchase a pressure washer, June is the perfect time to do so. Pressure washers go down in price during this month. You can save a significant amount of money if you plan accordingly and wait to make your purchase.

But don't forget that planning early is key to saving money, so we mention this now.

Retailers often offer discounts on pressure washers in June because it's the start of the summer season when people are more likely to do outdoor cleaning. As the weather warms up, more people want to spruce up their homes' patios, driveways, and exteriors. 

Retailers, such as Home Depot, have recognized this trend and bring the sale down on pressure washers so customers can get them more affordable. 

Besides, with pressure washers, people can clean their cars, bikes, grills, and other outdoor equipment, which also require some maintenance after winter. 

So, if you are in need of a pressure washer, save money in May for it and get ready to purchase it next month.

Smartwatches

June is a great month to look for sales on smartwatches, so saving for them in May is the smart financial way to do it.

With the advancements in technology and the increasing popularity of wearable devices, it's no surprise that smartwatches are becoming more affordable. 

One possible reason they go on sale is that summer has arrived, and people are likely more active and interested in tracking their activities. 

With the end of the school year, graduation season, and Father's Day, many may search for the perfect gift for their tech-savvy loved ones. Whatever the reason may be, it's clear that June is a great time to snag a smartwatch deal.

String Trimmers

Just like pressure washers, string trimmers are another items you might want to save for in May to purchase in June. As the warmer weather approaches, it's time to consider maintaining and beautifying your yard. 

String trimmers are versatile tools that help keep your lawn and landscape neat and tidy. While they can be pricey, there are ways to save on this handy equipment. 

Bathing suits

People start hitting the pool and the beach as the weather warms up, so it's time to buy new bathing suits. However, purchasing swimwear can be expensive, so saving and planning early is important.

May is a great time to start looking and saving for swimsuit deals because sales are starting to pop up. 

This year make sure you look out for deals as stated above. You might be seeing more sales of bathing suites this year than before due to inflation.

Sunscreen and Insect Repellents

As the weather starts warming up, it's important to be prepared with sunscreen and insect repellent outdoors. May and June are great months to stock up on these items, as they are often on sale. You will also start finding coupons and rebates for these items as well.

It is always a great idea to buy sunscreen and insect repellents when they go on sale. These products are essential for protecting our skin from harmful UV rays and keeping pesky bugs away when spending time outdoors.

You can save money by purchasing them at a discounted price while still getting the best protection possible. 

However, reading the label and following the instructions when using these products is always important to ensure maximum effectiveness and avoid potential health risks.

Remember, investing in sunscreen and insect repellent is investing in your health and well-being.

Get Ready for Semi-Annual Sales in June

Once you've saved on all of your must-haves in May, get ready for one of the biggest savings events of the year: the semi-annual sales in June. From Victoria's Secret to Bath & Body Works, you won't want to miss out on the chance to snag some serious deals. 

And don't forget about department stores unloading their old inventory in preparation for new arrivals, including new model TVs, digital cameras, furniture, and more.

Plan ahead and be ready to stock up on everything from summer essentials like sunscreen and insect repellent to power tools and smartwatches. 

And gardening supplies will also be plentiful for those with a green thumb during these sales. Get ready to shop and save big in May.

Gardening Supplies

If you are a gardener or starting a garden, take the time to save as much as you can for gardening supply sales.

During the month of June and throughout the summer, you will see garden sales and even clearance on plants and accessories. 

Head to the farmer's market and find deals in the afternoon or by closing on garden stuff such as plants and accessories.