Best Bargains of 2011

Escape to an Outlet Mall. Some luxury and designer items, such as Coach bags, and high-end kitchen goods, such as Le Creuset, are great deals at factory stores.

On the other hand, lower-quality outlet-only merchandise, such as Brooks Brothers’ 346 line or Gap factory-outlet clothes may not be worth it.

Rebates from Plastic. Get something back from your credit card. Bank of America’s no-fee Accelerated Rewards American Express card lets you redeem points for cash, travel or merchandise. You earn 1.25 points for every dollar you spend and receive a $50 credit after your first purchase.

Fun Fact: Did you know that credit card users earn more than $11 billion in rewards each year?

Benefit from AARP. For people age 50 and older, join AARP ($16 a year), and get up to 30% off hotel stays, car rentals and prescription drugs.

Ask for a Discount. A store just might take less for an item it wants to unload — say, an already-marked-down sale item — or give you a break if you offer to pay cash.

Be Willing to Walk Away. If you don’t get the price you want, head for the door. Chances are you’ll get a better offer before you hit the sidewalk.

Send in Your Rebate. Only 47% of respondents in a recent poll say they send in rebates always or often.

Make a Tech-Deal. One in seven buyers of major electronic items haggle on price, and half of them win a discount.

Think Outside the Brand-New Box. For affordable electronics, you can find refurbished gadgets for 10% to 75% off, depending on the item. Enter “Special Deals” into the search bar on Apple’s website to find iPods, iPads and computers. Recently, a used MacBook Pro cost $899 — about 25% off the original price — and included a one-year limited warranty. Amazon also sells used tech items.

Fund a 529 College-Savings Plan. With these state-sponsored accounts, your earnings grow tax-free and escape taxes altogether if you use the withdrawals for qualified educational expenses. If you live in a state that offers a tax benefit for contributions (as do 34 states and the District of Columbia), go with that plan. If not, we like the index-fund portfolios in the direct-sold version of the Illinois Bright Start College Savings Program. For more advice, we picked our favorite 529 plans, state-by-state.

Do the Math on Textbooks for Your Kids. A textbook that costs $100 new will likely cost $75 used, $50 or $60 as an e-book and $40 to $50 as a rental, says Rich Hersh­man, of the National Association of College Stores. You could resell a new book for about half the price you paid — as long as it hasn’t been replaced by a new edition.

Trim Green Fees. When the recession hit a few years ago, playing a round of golf became a luxury for many. To lure players back, courses offered greens-fee coupons — printed in local newspapers and offered in coupon books or even online (search for a course name plus “discounts”). Now golfers have grown used to the savings, and courses in many areas are stuck in a price war. You’ll typically save $10 to $30 a round.

Best Time to Buy Airfare. Fly on Wednesday and you’ll get the best price, according to FareCompare.com. Traveling over the holidays? You may save if you fly on the holiday itself.

Best Time to Buy Cars. For the best combination of discounted price and good selection on a new car, shop in September, as dealers clear the lots for the newest models. For used cars, you’ll find the best selection and best chance to negotiate in April.

Best Time to Buy Clothing. If new togs haven’t sold in about six weeks, stores start lowering prices. Weekend sales usually start on Thursday, and that’s when the selection is best.

Best Time to Buy Computers. December is a good time of the year to buy a computer; deals range from 15% to 50% off.

Copyright 2011 The Kiplinger Washington Editors

You may also like: 99 Great Ways to Save. >>