Christmas Gifts: Worst and Best Buys

Dec. 21, 2010 -- Itching to give a big-screen TV as a Christmas gift? How about a camera, snow blower or computer? "Hold on there Santa," say the folks at Kiplinger, who are experts on personal finance. While it's true you can find holiday specials on these gifts, John Miley of Kiplinger says you can find far bigger savings at other times of year, if you know when to shop for them.

Here's Kiplinger's list of the 10 most over-priced Christmas gifts, plus our own list of a few surprising best buys.

Personal Computers: What's the best time of year to buy a laptop? Not December, says Miley. He recommends August, when retailers are dangling discounts of up to 20% to lure college students. Another good time is Black Friday—the day after Thanksgiving.

TVs: Wait until January or February to give the gift of HDTV, says Kiplinger. That's when retailers start cutting prices on last year's models to make room for new ones that start arriving in March. The savings per set can amount to hundreds of dollars.

Linens: Ever since the 19th century, retailers and catalog companies have offered January 'white sales'—discounts of up to 60% on towels, blankets, sheets and other linens.

Tools: Maybe the best gift you can give your dad is proof you're not a chump: Wait to buy tools until Father's Day in June. Prices will fall 25% from what you'd have had to pay at Christmas.

Snow Blowers: Mark Di Vincenzo, author and bargain expert, tells Kiplinger the worst time to buy a snow blower is right now. The best time? Di Vincenzo, author of "Buy Ketchup in May and Fly at Noon: A Guide to the Best Time to Buy This, Do That and Go There," says it's March, after winter's heaviest storms have passed. Prices drop 30% to 40%.

Cameras: The payoff to waiting until late February is that you'll pay 30% less. The biggest trade shows in electronics are in January and February, after which merchants begin unloading last year's models at a discount. Shop Presidents' Day sales.