It’s A Mixed Bag
Cil Burke BSN
School will be starting back soon, if it hasn’t already. Kids out grow their clothes as fast as a speeding bullet, and besides, last year’s clothes can be so…last year. The back to school shopping season is in full swing to meet the needs of parents and their little shopping prodigies.
The talk at work has centered on this topic, as it does every back to school season.
- Where to shop for the best deals?
- What’re the latest styles?
- How much to spend?
- How ridiculous the new styles are!
The conversations are always the same-year in and year out. Empty nest does have its advantages….
A popular destination shopping spree here, from our rural area, is an outlet mall in a coastal community several hours away. It’s a common occurrence for groups of parents and children to make the trip into a weekend getaway.
Shop ’til you drop during the day, hit the beach in the late afternoon and then eat at a favorite night spot/restaurant. The crew arrives home Sunday afternoon with the car trunk full of shopping bags and stories of the best deals, the crowds and time to start that diet.
In a WSJ video, with a buyer beware sub title about outlet mall shopping, gave some timely advice for those who plan on this sort of excursion.
Shopping at the Outlets
Know this about outlet malls:
- They are typically 40-60 miles outside metropolitan areas where over-head is cheaper.
- Buyers often spend more (rather than less) because they made the special trip.
- Name brand shops (such as J Crew or Gap) may be selling lesser quality merchandise than found in their non-outlet stores.
- According to a large retail chain buyer, only 10-15% of merchandise found at Outlets was ever intended for the ‘real show.’
- Fake price tags are a standard scam to pull the unwitting consumer down a fools path thinking you got a great buy: this designer purse was marked down an amazing 70%!… Not!
You can certainly snag a deal at knock off malls, but like most personal finance, you’ve got to pay attention and have a plan.
Here are some tips:
- Watch it! Don’t spend more just to rationalize the money you sunk into the trip.
- Remember to add the cost of your trip to your shopping budget. If you spend 800 bucks on room, gas, and food and save 100 bucks on your clothes….I’m just sayin…
- Forget the mark downs on the price tag since they’re probably fake anyway. If you think the merchandise is worth the price, go for it.
- Become an expert on the quality of your favored designer’s merchandise.
- Consumer Reports went to the source-shoppers-to get the scoop. Check it out.
Short circuit buyer’s remorse by simply being a savvy shopper. Know what you want and what the best price should be. When you ‘re being towed around by finicky teen age shoppers, the difficulty scale just shot up.
How to go shopping with a hormone raging teen with an attitude even when he/she is hangin’ with their buds is fodder for a whoooole ‘nother post.
Reader Questions:
How ’bout you?
Do you shop at outlet malls for back to school? What’s your secret to not blowing the budget with barely or should I say rarely bottom-dollar buys?
Don’t forget to check out the latest Two Guys and Your Money Podcast. Dean had audio problems (did you know microphones can just plain die?) right at taping time that kept the panel from getting his erudite opinions, but I’m sure it was good anyway. Our friend Barbara Friedberg was a guest on the panel.
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Yakezie Carnival at The College Investor
The Carnival of Retirement at Young Family Finance
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Photo Credit: Jason Paris
Tags: back to school outlet mall shopping, how to get the best deals at outlet malls, outlet mall shopping
My mom used to make the trip to the outlet mall once a year like it was Mecca. She’d buy tons of stuff, and I remember my dad’s comment, “All the money she saved she spent on a hotel, meals out, and the gas to get there.” And that was 100 years ago, when gas was cheap!
100 years ago, where does that put me AJ? !20???
I like most outlet malls. Whether it’s outlet malls, thrift stores or wholesale stores, I make sure to stick to my budget. I agree on how much is reasonable to spend and don’t go over. This makes it fun because it’s almost a game to see how far my money can last. Nice to meet your blog Dr. Dean.
Good of you to drop by and comment!
Making personal finance a game and a personal challenge is cool. You tend to stay with things you think are fun, so might as well make a game of it!
[...] I know what the point isn’t, and that’s Outlet Malls. Cil at the Millionaire Nurse asks To Outlet Mall or Not To Outlet Mall and comes up with some good points for and against. For the record, I’m against, but if you’re [...]
Just to be clear: In order to get 40 – 60 miles outside of the Greater Los Angeles metropolitan area, the average Angeleno has to drive about 739 miles.
And that’s why I don’t shop at outlet stores.
Len
Hmmm, maybe that’s why I don’t live in LA…
[...] Nurse Blog- To Outlet Mall or Not to Outlet Mall? Guest poster Cil notes that most outlet malls are roughly 40 to 60 miles outside of most big [...]