Budgeting and finding deals around Memorial Day
(CBS DETROIT) - With inflation impacting the pockets of both consumers and retailers this Memorial Day, both parties are adjusting their game plans for the holiday break.
Simone Peinkofer, Michigan State University assistant professor of supply chain management, says retailers are offering discounts earlier than normal this year in hopes of shedding off seasonal inventory or other items that may become dated after the spring or summer.
When it comes to consumers, especially in the way of purchases surrounding travel such as groceries or gas, Peinkofer says having a spending plan is key.
"It's always a good habit to set a specific budget and you know if your disposable income is a little tight these days. Maybe prioritize the purchases. Look into [it]. Is this truly something we need? Just in order to be a little mindful of your spending so you know families can stay within their budget," says Peinkofer.
She adds if you aren't loyal to a specific brand, doing your research and comparing prices to find the better deal may be what it takes to keep some extra dollars in your wallet to spend elsewhere for other holiday needs.