If you're looking to save some money this month, here's a quick guide on what you should and shouldn't buy in August . . .
1. Buy back-to-school supplies. Back-to-school supplies usually hit the shelves in July, but sales will be better this month as the beginning of school approaches.
2. Skip major household items. Skip any major household purchases, since Labor Day sales are just around the corner.
3. Buy outdoor products. August is a good time to buy outdoor products like lawn mowers and patio furniture. Even if you won't get much use out of them THIS summer, you'll have them for next year.
4. Buy summer clothes. As stores try to clear out old inventory to make room for fall and winter clothes, you'll be able to save some money on summer stuff and swimsuits.
5. Skip the iPhone. Apple is likely going to announce its new iPhone 8 in September, so if you buy an iPhone NOW, it'll be out of date in a month. Plus, Apple and other retailers generally drop prices on previous iPhone models once the new phones come out, so you can score a better deal if you wait.