| | | | | Hello there!
Today is Amazon Prime Day—the unofficial kickoff to the holiday shopping season, in which the world's biggest online retailer bombards you with discounts on electronics, home goods, and more.
We all love a good discount. But you don't have to jump on any sales today if you're not ready.
Today's deals are essentially a marketing moment for Amazon to push its Prime memberships (yearly cost: $119, which you can cut in half but we'll get to that later). Note that Amazon's own products—like the Dot, Echo, and Ring—usually get the steepest price cuts. However, other stores will be offering their own sales to compete with the online giant over the coming months, so there will be no shortage of opportunities to save in the future.
Of course, there are still great deals to be had. And if you're smart, you can save money above and beyond the advertised discounts. Here's how. | | | |
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| | | THE GUIDE | How to Save Money on
Amazon Prime Day | Our advice? Start with a budget, set alerts—and take advantage of promotions and perks.
As Samantha Rosen writes, "a budget will encourage you to stick to your financial goals" and will help you from getting sidetracked by shiny objects.
Since many products sell out almost immediately, it's wise to set up notifications for the ones you really want. Add them to your "Watched and Wishlist" sections, then sign up for notifications by opening the Amazon app, tapping the icon with three stacked lines, and clicking "Settings" to "Notifications." You can enable notifications for "Your Watched and Wishlist Deals."
Credit card companies are offering cash-back deals on certain Amazon purchases, so check with your issuer for any targeted offers. Samantha also flags some other little tricks, like a gift card hack that will save you an easy $10.
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| | | THE STRATEGY | Why You Don't Have to Splurge
on Amazon Prime Day | 2020 has been a year like no other, so it stands to reason that this year's shopping season will be different, too.
For one thing, it's getting started earlier, so you can pace yourself. "Retailers expect consumers will spread out their holiday shopping across several months this year, according to data from the National Retail Federation (NRF), and they're planning sales calendars accordingly," writes NextAdvisor's Kendall Little.
Another wrinkle this year is shipping delays, which have the potential to be worse than in previous years. "I would strongly suggest consumers get their shopping done early," says Trae Bodge,a smart shopping expert who tracks monthly deals and offers retail tips on her blog TrueTrae.com. You don't want to find the perfect gift, only to have its delivery delayed until January.
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| | | THE STEAL | This Hack Will Save You
$60 off Amazon Prime | Did you know you can split the cost of a Prime membership with a friend or family member? Membership is $119 per year (or $12.99 per month), but signing up for Amazon Household will cut that cost in half.
Two people who have separate Amazon accounts can share their Prime benefits with one another, at no additional cost. Amazon Household lets you add two adults and up to four teens and four children. (Important: Anyone who shares the account won't be able to see your searches or order history, but they will see your payment methods.)
To sign up, go to the Amazon Household page,add the people you'd like to share your account with, and invites will be sent to them. Once it's set up, they will be able to share benefits like Free Prime Delivery, access to Prime Video, and more.
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| | | THE BOTTOM LINE | Like everything else, shopping looks different this year, but you can take advantage of the longer shopping season by planning ahead, making a budget, and doubling down on coupons and deals.
| More soon,
The NextAdvisor Team | | | |
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