5 Items to Splurge On in January

January is often a good time of the year to get your personal finances in order. The post-holiday shopping period comes at the same time many people are resetting financial goals and planning for the year ahead.

But if your finances are already well in order and you're on the hunt for some good deals, these five items are usually on sale in January and might be worth splurging on.

1. TVs

It's no secret that many televisions go on sale in January as retailers discount TVs ahead of February's big game.

Many retailers use this period to sell last year's model at a lower price, giving you the chance for big savings. Improved manufacturing processes and increased competition have driven TV prices down even when inflation was rising, making it potentially easier than ever to find a good deal.

Some 55-inch TVs can be yours for less than $250. If you racked up cash back rewards during your holiday shopping, you could use them to bring that price down even further.

2. Linens

Bedding, towels, and blankets often go on sale in January, and you can often score significant discounts. Department stores and online retailers typically discount linens and other similar items between 40% and 70%, giving you the perfect opportunity to grab an extra set of flannel sheets to ride out the rest of winter.

3. Fitness equipment

You know this one had to be on the list! Many Americans commit to fitness goals for the new year, and retailers look to tap into that demand by discounting workout equipment and clothes. You may be able to find deals for up to 60% off in January.

And even if you don't have specific workout equipment needs, you might benefit from the more general wellness deals that some companies offer. I did a quick search and found fitness trackers, vitamins, blenders, and other related items on sale.

4. Leftover holiday items

I was in a store just a few days before Christmas, and even then, all the decorations looked pretty well picked over. But January can still be a great time to find holiday items you weren't ready to add to the credit card last month.

I found everything from Christmas candles to red and green storage bins to turkey roasting pans with a quick search on Target's website. Take a tip from me and look for the best deals online instead of hunting through the bare shelves.

5. Winter clothes

If you didn't get the sweater or jacket you wanted for Christmas, don't fret. There are lots of winter clothes deals beginning in January as retailers look to move cold-weather clothes off the shelves.

Even though winter has just begun, retailers always look ahead to the next shopping season. Some companies start putting out spring clothes as early as February, which means you can find big discounts of up to 75% off some winter clothes this month.

Budget for your winter shopping

While it can be tempting to whip out your store card and start buying up every deal, it's best to do winter shopping on a budget. There are plenty of easy-to-use budgeting apps that will help you track your spending and keep you on track for your 2024 financial goals.

It's also a good idea to download a few price comparison apps. You'll be able to find the best deals faster than browsing sites on your own, and can even set up price drop alerts.