Yahoo Finance 8 Things You Shouldn’t Buy at Target While on a Retirement Budget
Target’s “Expect More. Pay Less” brand promise is just part of what makes it such an attractive place to shop. But the store also has a decent selection of quality items ranging from household appliances to apparel to food.
The problem is that not everything at Target is worth the purchase, especially if you’re living on a fixed retirement income. Some things aren’t quite as affordable as they initially seem, while others simply aren’t necessary.
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If you’re a Target shopper, here are some things you shouldn’t buy while on a retirement budget.
Samsung 75-inch Outdoor QLED 4K UHD Smart TV
Price: $6,499.99
The Samsung 75-inch “The Terrace” Outdoor QLED 4K UHD Smart TV is a beautiful outdoor television. It’s also highly rated.
The issue isn’t the quality of the television, but rather the need for it. It’s one thing if you have a few thousand dollars lying around and need to replace what you’ve already got. It’s another if you’re adding this to your shopping cart as an impulse purchase.
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DeWalt 20V MAX 4 Power Tool Combo Kit
Price: $479
Having reliable tools for home repairs is important, but there’s a good chance you already have a collection in your garage somewhere.
Instead of spending nearly $500 for a complete set like the DeWalt 20V MAX 4 Power Tool Combo Kit — which could very well have tools you don’t even need — get your tools separately. That way, you’ll end up with exactly what you need for your next project.
Alternatively, you might be able to save money by borrowing tools from someone you know or by purchasing them used from a thrift shop.
Josephine Mid-Century Modern Petite Sofa
Price: $579.99
Target has a decent selection of furniture, including the Josephine Mid-Century Modern Petite Sofa. But you might be able to save money by purchasing similar items at discount stores like Big Lots.
Consider your budget, the item’s aesthetic, and the quality of any Target furniture you’re thinking about buying. If it’s not something you absolutely need, or if your current setup works just as well, skip it.
Echelon GT Connect Exercise Bike
Price: $599.99
It’s important to keep active during retirement, but that doesn’t mean you should go out and buy exercise equipment. Target’s Echelon GT Connect Exercise Bike is pricey and, depending on your lifestyle, you might not end up using it as often as you think.
Instead of spending your money on expensive exercise equipment, look into cheaper options. This could be something simple like getting a gently used bicycle from a garage sale or reputable shop. Or it could mean getting an affordable monthly gym membership — one that likely includes exercise bikes like the one from Target.
10.9-inch Apple iPad
Price: $599.99
Technology is great and all, but it’s also expensive. And while this 10th generation Apple iPad might seem reasonably priced, you’ll want to ask yourself whether it’s something you’ll actually use.
Keep in mind that new models hit the market every few months or years. If you’ve already got an iPad and need a replacement, that’s one thing. But if you’re trying to keep up with the latest gadgets, you’re likely just spending cash you could have used for something else.
Gift Cards
Price: $10 to $500+
Gift cards have their place, but be careful about the ones you get — and where you get them from.
Target gift cards can only be used at Target stores or at Target.com. You can’t use them to buy other gift cards or prepaid cards. Target also has other gift cards, including those to specific retailers, restaurants and more. However, you may be able to save money on these by shopping at Costco or other stores.
Black+Decker Front Load Washing Machine
Price: $899.99
The Black+Decker Front Load Washing Machine is a well-known brand, but it might not be worth the cost.
If you just need a simple machine that’ll wash your clothes, look beyond Target to places like Home Depot, Lowe’s or even Best Buy. These stores specialize more in these types of purchases and may offer higher quality machines.
Plus, this particular washing machine is on the pricier side — especially if you’re on a strict retirement budget. According to HomeAdvisor, a simple washing machine starts at about $445. That leaves room for some significant savings potential.
Miyabi Kaizen Steak Knife Set
Price: $710
Is it time to replace that old set of cutlery? Instead of getting an expensive set from Target, see if there are any other stores nearby that specialize in kitchenware and accessories. You might find a much better deal.
For example, Crate & Barrel sells this Wüsthof ® Gourmet In-Drawer Steak Knife Set for $220. This is less than a third of the price. Plus, it comes with eight knives instead of four and is highly reviewed.
Bonuses: Clothing and Food
Even the highest quality clothing needs to be replaced every once in a while. Target does have some affordable options, but you could save even more money — or find something of better quality — by shopping at thrift stores instead.
As for groceries, Target has a decent selection, but not everything is priced low. If you’re trying to keep to a retirement budget, consider shopping at places like Aldi or Lidl instead.
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