Planning for purchases ahead of time can really pay off, especially when it comes to seasonal items. NY1's Shazia Khan filed the following "Money Matters" report.

A calendar is of course a great planning tool, a tool that could also help you save money. Thinking ahead and knowing when to buy can make all the difference on your wallet.

"If you don't have to have it at that moment just wait a matter of two months could be a savings of 90 percent, so it always pays to be patient," says Kathy Spencer, author of "How to Shop for Free".

NY1 recently caught up with Spencer at Macy's in Herald Square where she says end of month and end of season buys are a big part of her shopping calendar, starting with January.

"Everything you wanted for Christmas and didn't get is now deeply discounted," says Spencer. "So you want to plan ahead for the next season even wrapping paper you're gonna get 90 percent off."

January is also a great time to buy bedding, housewares and gym memberships which Spencer says go on sale again in the spring in anticipation of bikini season. Buying boots in February is also a step in the right direction.

Have a wedding coming up?

"All the Valentine's things will be deeply discounted the day after Valentine's Day. So if you are looking for favors for a bridal shower or picture frames that say love or hearts plan ahead for the wedding and grab them then," says Spencer. "Also, if you do outlet shopping February, March is the best time to go up to the outlets get all your designer brand names for ridiculously low savings."

Spencer says April, home to Earth Day, is a good month to save on Energy Star appliances. And it's Christmas in July when it comes to great deals on toys.

"That's when you're going to see all the amazing clearances in toys, 75 percent off. Because they want to clear their shelves of what's been sitting there for a while," explains Spencer.

Your best bet for savings on pool equipment, patio furniture, and gas grills is at end of August and September.

Rounding out the year, Spencer says Black Friday is one of the best times to buy electronics and also score some deep discounts on toys.

For more shopping tips, go online to www.howtoshopforfree.net.