Best and Worst Buys of July 2014

Fourth of July sales offer a rare opportunity to get discounts on seasonal items while they're actually in season. So you'll see markdowns on summer apparel, grills and patio furniture this month -- as well as deals on a variety of other goods. Here's what you can expect to find on sale in July, and what you should wait a little longer to buy.

What's on sale now ...

Appliances. Look for sales on major appliances over the long Fourth of July weekend. Offers.com CEO Howard Schaffer says he's already seeing discounts of 40% on major brands.

Furniture. Furniture stores have clearance sales in July (and January) to clear out inventory before new styles are released. As a result, furniture prices will reach some of their lowest levels of the year, Schaffer says. Some stores also are offering financing for up to five years interest free. However, if given the choice, consumers will be better off taking an additional discount rather than a financing option, Schaffer says.

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Laptops. Back-to-school sales are a good time to find deals on computers. The best savings this year will be on touchscreen systems and 15-inch laptops. According to dealnews.com, prices might dip as low as $199 on touchscreens, and laptop deals will range from $300 to $330.

Outdoor items. You'll see markdowns of up to 65% on patio furniture, Schaffer says. And look for retailers to lower prices on grills by $30 to $100, according to dealnews.com. However, you'll find even better deals on these outdoor items August through September, Schaffer says.

Summer clothing. You'll see plenty of sales on swimwear and summer apparel clothing over the long holiday weekend. Expect discounts of 40% to 70%, according to CreditDonkey.com.

Tools. Some retailers had sales on tools around Father's Day. The deals get even better, though, in July as retailers further discount tools that didn't sell the previous month. Wait for November, though, for the best prices on pricey power tools.

Wait a little longer to buy ...

School supplies. Although retailers kick off back-to-school sales in July, a study by money-saving Web site NerdWallet found that 90% of back-to-school items for sale in July sold for the same or lower price in August. Plus, if you live in one of the 16 states with sales-tax holidays in August, you’ll save even more on pens, pencils, markers, binders, paper and backpacks.

Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.

Cameron Huddleston wrote the daily "Kip Tips" column for Kiplinger.com. She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.