The law of supply and demand is a powerful force in the world of economics, and vis-à-vis, your personal finances as well. Naturally, you can take advantage of this phenomena to save some money by purchasing items you need and/or want during times of decreased demand.

Below are three examples:

1.      Wedding Related Items and Services

The cost of weddings these days is truly out of control. If you watch those wedding shows like “Bridezilla” or “Whose Wedding Is It Anyway?” it is not uncommon for these couples or their families spend six figure sums on the “big day.”

We probably all know when the peak wedding season is. Brides and grooms want to get hitched right after school semester ends in the May to June time frame. This is slightly more popular than summer because let’s face it, who wants to be sweating buckets on a day when you’ll have professional photographs taken of you?

Not only will the quoted prices be lower by trying to organize your wedding away from these peak times, but vendors will also be more open to negotiating on the terms of the deal and related pricing. If you want to save even more, be sure to make your wedding related purchases with a cash back credit card, which can knock another 1-5% off the total price of the day.

2.      Cook Out and Outdoor Patio Equipment

Have you ever gone to the outdoor patio and garden supply sections of a big department store during the winter? Sometimes, it can look pretty depressing, with snow covering the ground/appliances and no flowers on display. Contrast this to the summer months when the section is much more alive!

However, we as consumers can take advantage of these seasonal patterns by purchasing discounted patio, barbecue, and other cook out equipment during the middle-of-winter months.

3.      Clothing

Clothing is another big item where cost savings can be obtained by shopping out of season.

There are several ways you can take advantage of this. First, keep an eye in the newspaper for when big department stores have their winter and summer clearance sales. While you do have to wade through some of the unwanted styles from the year gone by, you can often find deals up to 75% the original price. Second, also keep an eye on thrift stores when the season changes. When the weather changes, people will go through their wardrobe, bring the clothes for the new season to front, and often get rid of their off-season clothing that they might not wear again. This can result in some great bargain purchases for you!