x
Breaking News
More () »

Tips on how to protect your wallet from inflating prices if the item you want is out of stock

Inflation is eating at our wallets whether it's grocery prices, gym shoes or something special for your home.

We all feel the impact of inflation every time we go grocery shopping, but if you're buying a big-ticket item, it can really hit home.

Gary Allen found the perfect backyard cedar shed at Lowe's last spring and said he prepaid $9,400 on his credit card.

"Found it online, ordered it in March, and had a delivery date of April 23," Allen said.

But April, then July, then September came and went and no shed. 

It was on backorder. 

Allen said the store had a lot of other sheds in stock but none of them were like the farmhouse he already ordered. And he said by the time they have one for him, the price was so much higher. 

"I paid $9,400 and now it's $12,100."

Now that it would be available, Gary would have to pay almost $3,000 more than his original price due to rising lumber costs.

"They're having trouble with the price point from their vendor.  And that told me they are having to raise the price because it is unavailable."

Lowe's promised to look into Allen's case and a week later, they offered him a gift card for $750, though Allen said it still doesn't bring the shed down to what he originally paid.

It's the same inflation hitting new and used cars, appliances and other items. 

So here's how you can protect yourself if something you want is out of stock:

  • Ask if you can lock in the current price
  • Consider a different model that is currently in stock
  • Look at a smaller version               

When it comes to big-ticket items, that's where inflation really hits home. So know these tips so you don't waste your money.

KHOU 11 on social media: Facebook | Twitter | Instagram | YouTube

Before You Leave, Check This Out