Podcasts > Money Rehab with Nicole Lapin > A Guide To the Memorial Day Sales That Are Totally Worth It— and the Ones That Aren't

A Guide To the Memorial Day Sales That Are Totally Worth It— and the Ones That Aren't

By Money News Network

In this episode of Money Rehab with Nicole Lapin, financial expert Nicole Lapin shares tips for earning extra income and finding travel discounts. She highlights the potential of renting out your home on Airbnb as an easy side hustle to monetize your existing living space. By offering this strategy, Lapin aims to help listeners reduce their travel costs while maximizing their earnings.

Lapin also provides guidance on scoring savings during Memorial Day sales. She discusses the steepest discounts available on major purchases like mattresses and home appliances, as well as promotions on outdoor gear. The episode sheds light on how to identify and seize upon travel bargains offered by airlines, hotels, and booking sites over the long holiday weekend.

A Guide To the Memorial Day Sales That Are Totally Worth It— and the Ones That Aren't

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A Guide To the Memorial Day Sales That Are Totally Worth It— and the Ones That Aren't

1-Page Summary

Airbnb Hosting as a Side Hustle

Financial expert Nicole Lapin shares insights on how Airbnb hosting allows people to monetize their existing living space as an accessible side hustle.

Low Startup Costs

According to Lapin, Airbnb hosting is an easy and profitable side gig that leverages your home, an asset many already possess. No major investments are required upfront.

Travel Cost Savings

Lapin notes that hosting on Airbnb can significantly reduce travel costs. By renting out her home while away, she can treat herself to vacations with far less financial strain.

Saving Money on Travel

Technology and timing can lead to substantial savings when booking trips.

Budget-Based Searches

Apps like Skyscanner and Hotwire allow you to search by your maximum budget, presenting flexible options that align with your financial limits, Lapin explains.

Holiday Weekend Deals

Lapin recommends taking advantage of discounts and packages offered over long holiday weekends, when travel providers incentivize bookings.

Memorial Day Weekend Sales and Deals

Major retailers prepare for Memorial Day Weekend with a slew of sales and promotions across various products.

Mattress Discounts

Lapin likens Memorial Day to the "Super Bowl" for mattress companies, with some of the year's deepest discounts on mattress purchases.

Appliance Sales

The weekend is also opportune for purchasing large home appliances, as retailers offer price cuts, package deals, and rebates.

Outdoor Gear Promotions

Due to retail struggles, Lapin notes increased sales on outdoor products like furniture, grills, and sports equipment typically reserved for Labor Day.

Travel Bargains

Airlines, hotels, and booking sites provide special rates and vacation packages over Memorial Day Weekend, making it ideal for deal-seekers to book travel, according to Lapin.

1-Page Summary

Additional Materials

Clarifications

  • Airbnb hosting involves renting out your property, or a part of it, to guests through the Airbnb platform. Hosts create listings with details about their space, pricing, availability, and house rules. Guests can then book these accommodations for short stays, providing hosts with an additional income stream. Hosts can communicate with guests, set house rules, and manage bookings through the Airbnb website or app.
  • Memorial Day Weekend sales and deals are significant because major retailers offer discounts and promotions across various products during this time. It is a popular shopping period known for deep discounts on items like mattresses, appliances, outdoor gear, and travel packages. Consumers can take advantage of special offers and sales events during this holiday weekend to save money on a wide range of purchases. Retailers often use this time to attract customers with enticing deals and incentives.
  • Memorial Day is likened to the "Super Bowl" for mattress companies because it is a major sales event for them. During this holiday weekend, mattress companies offer some of the deepest discounts and promotions of the year to attract customers. This period is known for high consumer spending, similar to the heightened attention and sales seen during the Super Bowl in the sports industry. The marketing and sales efforts around Memorial Day create a significant opportunity for mattress companies to boost their revenue and clear out inventory.
  • Retailers often offer sales on outdoor products like furniture, grills, and sports equipment over Memorial Day weekend to attract customers during the holiday shopping period. This timing aligns with the start of the summer season when many people are looking to upgrade their outdoor spaces or gear for activities. Additionally, retailers may use this holiday as an opportunity to clear out older inventory to make room for new seasonal items. The combination of increased consumer demand and strategic marketing efforts contributes to the surge in outdoor product promotions during this time.

Counterarguments

  • While Airbnb hosting has low startup costs, ongoing expenses and time commitments for maintenance, cleaning, and guest communication can be significant.
  • Renting out your home on Airbnb while traveling can help offset travel costs, but it also comes with risks such as property damage or theft.
  • Technology and timing might help find travel deals, but the lowest prices often come with restrictions, such as non-refundable tickets or inconvenient travel times.
  • Budget-based searches on travel apps can indeed show flexible options, but they may not always present the best value once additional fees and costs are considered.
  • Discounts and packages over holiday weekends can save money, but these deals may also coincide with peak travel times, leading to crowded destinations and potentially higher overall travel costs.
  • Memorial Day Weekend sales are popular, but consumers may be enticed to make unnecessary purchases due to the perception of getting a good deal.
  • Mattress and appliance discounts during Memorial Day may be significant, but sometimes these sales can be matched or beaten at other times of the year with careful shopping.
  • The increase in sales for outdoor products during Memorial Day might reflect a genuine discount, but it could also be a marketing strategy to clear out inventory before the introduction of new models.
  • Special rates and vacation packages over Memorial Day Weekend can be attractive, but the demand for travel during holidays can also lead to inflated prices in some cases.

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A Guide To the Memorial Day Sales That Are Totally Worth It— and the Ones That Aren't

Airbnb hosting as a side hustle

Nicole Lapin, a financial expert, shares insight on how Airbnb hosting has become an accessible and favored side hustle for those looking to monetize their living space.

Airbnb hosting allows you to monetize your existing living space

Hosting on Airbnb is an easy and profitable side hustle that utilizes the home you already own and pay for

According to Nicole, Airbnb hosting stands out as one of her top side hustle recommendations. She points out that, in contrast to other popular side gigs, Airbnb doesn’t demand large startup costs. This hustle leverages an asset many people already possess — their home. Thus, it enables homeowners to make money from a resource that's already part of their financial responsibilities.

Hosting on Airbnb can help offset the costs of travel, making it easier to treat yourself to vacations

Nicole notes the financial benefits of this side hustle are par ...

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Airbnb hosting as a side hustle

Additional Materials

Clarifications

  • The financial benefits of hosting on Airbnb include the ability to generate income by renting out your living space to guests, which can help offset mortgage or rent costs. Additionally, hosting can provide extra funds that can be used to cover travel expenses or indulge in vacations. By leveraging an existing asset like your home, you can turn it into a source of passive income, contributing to your overall financial well-being. This side hustle can be particularly advantageous for those looking to make money without significant upfront investments.
  • Hosting on Airbnb can offset travel costs by allowing hosts to earn money from renting out their space while they are away. This additional income can help cover expenses like accommodation, transportation, or activities during the trip. Essentially, the earnings from hosting guests can contribute to making travel more affordable and financially sustainable. By leveraging their property as a source of income, hosts can enjoy vacations with reduced financial burden.
  • When hosting Airbnb guests while away, hosts can manage their listings remotely using the Airbnb app or website. They can set availability dates, communicate with guests, arrange for key exchange through a lockbox or smart lock, and coordinate cleaning services between guest stays. This flexibility allows h ...

Counterarguments

  • Airbnb hosting requires time and effort for managing bookings, communicating with guests, and maintaining the property.
  • There may be legal and regulatory hurdles to consider, as some areas have restrictions or require permits for short-term rentals.
  • Hosting on Airbnb can lead to increased wear and tear on your home, potentially leading to higher maintenance costs.
  • Not all properties are suitable for Airbnb; location, size, amenities, and other factors can significantly impact profitability.
  • There are risks involved, such as property damage by guests, liability issues, or unexpected vacancies that can affect income stability.
  • Airbnb hosting can impact your home insurance premiums or may require additional insurance coverage.
  • The market for Airbnb rentals can be competitive, and success often requires marketing skills and investment in listing quality.
  • The income from Airbnb hosting can be inconsistent and seasonal, which may not be suitable for those seeking a stable side income.
  • Airbnb's service fees and taxes can reduce the profitability of hosting.
  • Hosting strangers in your home may not be comforta ...

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A Guide To the Memorial Day Sales That Are Totally Worth It— and the Ones That Aren't

Saving money on travel

Traveling can be an enriching experience, but it often comes with a hefty price tag. However, savvy travelers can save substantially by using strategic approaches to booking their trips.

Use price-based search to find the best travel deals

Leveraging technology is key when trying to travel on a budget. Apps like Skyscanner and Hotwire are incredibly resourceful because they allow you to search specifically based on your budget. These platforms often have features where you can enter your maximum expenditure for flights and hotels, and they will present you with a range of flexible options that fit within your financial limits.

Taking advantage of travel discounts and packages offered over long holiday weekends can lead to significant savings

Moreover, timing your travel can lead to more bang for your buck. Long holiday weekends are a perfect opportunity for this strategy as ...

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Saving money on travel

Additional Materials

Clarifications

  • Leveraging technology for budget travel involves using online tools and apps like Skyscanner and Hotwire to search for the best travel deals based on your budget. These platforms allow users to set their maximum expenditure for flights and hotels, presenting flexible options that fit within their financial limits. By utilizing these tools, travelers can find discounted rates, special packages, and exclusive deals that help them save money on their trips. This approach is especially beneficial for those looking to optimize their travel budget and get the most value out of their travel expenses.
  • Price-based search tools like Skyscanner and Hotwire are online platforms that help users find the best travel deals by allowing them to search for flights and hotels based on their budget. These tools enable travelers to set a maximum expenditure for their trip, and then present them with various options that fit within their financial limits. By using these tools, travelers can compare prices, explore different dates and destinations, and ultimately save money on their travel expenses.
  • Setting a maximum expenditure for flights and hotels means specifying the highest amount of money you are willing to spend on these travel components. This helps you narrow down your options to those that fit within your budget, making it easier to find affordable choices. By inputting this limit into travel search platforms like Skyscanner and Hotwire, you can filter out options that exceed your financial constraints, saving you time and helping you make cost-effective decisions. This feature allows travelers to focus on choices that are within their budget range, ensuring they can find suitable and affordable travel options.
  • During long holiday weekends, travel providers often offer bundled deals that combine multiple travel components, such as flights and hotel stays, at a discounted price. These packages are designed to attract more bookings during peak travel periods and can provide significant cost savings compared to booking each com ...

Counterarguments

  • While price-based search tools can be helpful, they may not always show the full range of options, as some airlines and hotels do not list their inventory on third-party sites.
  • Apps like Skyscanner and Hotwire might not always offer the best deals, as direct bookings with airlines or hotels can sometimes provide better rates or additional perks.
  • Relying solely on technology might cause travelers to miss out on deals that are only available through traditional travel agents or by booking directly.
  • Travel discounts and packages over long holiday weekends can indeed lead to savings, but these periods also often coincide with peak travel times, which can mean more crowds and less availability.
  • Timing travel during long holiday weekends might not always result in more value for money due to increased demand, which can drive up prices for flights, accommodations, and activities.
  • Travel providers may offer discounts during long holiday weekends, but these are sometimes offset by higher prices due to the increased demand.
  • Bundled deals can be cost-effective, but they may also include components that the traveler does not need or want, potentially making them less flexible and more expensive than purchas ...

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A Guide To the Memorial Day Sales That Are Totally Worth It— and the Ones That Aren't

Memorial Day weekend sales and deals

Retailers nationwide gear up for Memorial Day weekend by offering a bonanza of sales and deals across a spectrum of products, particularly mattresses, large appliances, outdoor gear, and travel packages.

Mattresses see the biggest discounts over Memorial Day weekend

Memorial Day Weekend is likened to the Super Bowl for mattress companies as they roll out some of the deepest sales and promotions of the year. Shoppers are encouraged to seize the opportunity to purchase a new mattress during this time, as significant deals abound despite consistent summertime demand.

Large appliances also go on sale for Memorial Day

The weekend is also an opportune time for consumers to invest in new home appliances. Retailers are prepared to entice buyers with price cuts, package deals, and rebates on a wide array of major appliances, including refrigerators, washers, dryers, dishwashers, stoves, and even vacuum cleaners.

Outdoor gear and furniture sales are stronger this year due to retail struggles

As retail faces challenges, there's been an uptick in sales of outdoor products historically reserved for Labor Day. This year, stores are presenting considerable discounts for Memorial Day to draw in customers. For instance, Target is offering 50% off on patio and garden items, and outdoor games are reduced by 40%. Outdoor gear such as furniture, grills, bikes, and hiking equipment are prominently featured in this year's sales. ...

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Memorial Day weekend sales and deals

Additional Materials

Clarifications

  • The comparison of Memorial Day Weekend to the Super Bowl for mattress companies highlights the significance of this holiday for the mattress industry. Just like the Super Bowl is a major event in sports, Memorial Day Weekend is a crucial period for mattress companies due to the high sales and promotions they offer. This comparison emphasizes the competitive nature and heightened consumer interest surrounding mattress sales during this time. It underscores the strategic importance for mattress companies to capitalize on the increased consumer demand and attention during Memorial Day Weekend.
  • The mention of retail struggles in the context of Memorial Day sales alludes to the challenges faced by traditional brick-and-mortar stores due to increased competition from online retailers and changing consumer shopping habits. This has led to a shift in sales strategies, with retailers offering more significant discounts and promotions to attract customers during key shopping periods like Memorial Day weekend. The reference to retail struggles highlights the industry's ongoing efforts to adapt to evolving market dynamics an ...

Counterarguments

  • While retailers offer sales, the quality and value of discounted items can sometimes be lower than non-sale items.
  • Significant discounts on mattresses may not always represent the best value if the original prices are inflated.
  • The availability of rebates and package deals on large appliances may require additional purchases or come with conditions that could reduce the actual savings.
  • Stronger sales on outdoor gear and furniture could indicate overstock or lower-quality items rather than a genuine discount.
  • The increase in sales for outdoor products may not necessarily reflect retail struggles but could be a strategic move to capture more market share during a competitive sales period.
  • Travel deals advertised for Memorial Da ...

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