The start of a new month is signaled by more than simply turning a page on the calendar. In the retail world, it marks the beginning of new price cuts on a fresh set of products.

Before you hit the stores or web for some end-of-summer shopping, here's your go-to guide for what to buy (and skip) in the month of August.

Buy: Back-to-school supplies

First up on your August shopping list should be school supplies. Academic products hit store shelves in July, but sales will be better in August — particularly as the beginning of school approaches. Look to back-to-school sales at department stores and office supply chains for deals on backpacks, pens, pencils and other essentials. And as with any sale event you see in August, remember to apply relevant coupons and coupon codes.

Skip: Toys

In August, school supplies are a go, but toy purchases are generally a no. If you are in the market for a new toy, gaming system or children's electronic device, hold off for now. Wait to make these types of purchases until late fall. You will see deeper discounts during the holiday shopping season, particularly near Black Friday.

Buy: Outdoor products

With summer coming to a close, you probably aren't planning on doing much work in the backyard. But that's exactly why outdoor maintenance products will reach low price levels in August. Buy these items now so you will be prepared for next year. If you need a new lawn mower, for example, take advantage of the big deals you will find over the next few weeks.

Skip: iPhone

Pump the brakes on a new iPhone purchase for just one month longer. By all accounts, Apple appears to be gearing up to release the new iPhone 7 in September at the tech company's annual keynote address.

Buy: Summer clearance

Since the warm season is coming to a close, retailers are trying to clear out old inventory to make room for winter weather necessities. If you are going to buy any clothes this month, you will be able to save more on summer staples than winter wear. Swimsuits, for instance, will mean deep sales. As Victoria's Secret phases out its swimwear collection, prices are reaching rock bottom.

Bonus: National Garage Sale Day

Great deals this month might be closer than you think. That's because the second Saturday in August is National Garage Sale Day. This year, that's Aug. 13. Lots of bargain hunters will be looking to sell or buy during this annual end-of-summer event. Look for offerings around your neighborhood and community.

One more tip

If it isn't essential for you to make a major purchase in August, hold off until massive discount events arrive on and around Labor Day weekend. This year, the holiday falls on Sept. 5, but you can expect sales to begin a week before that. Labor Day is renowned for its mattress and appliance deals.

Last year, Best Buy took up to 30 percent off major appliances, 1800Mattress discounted nearly every mattress by up to 60 percent and furniture price cuts reached 70 percent at Overstock.

Courtney Jespersen is a staff writer at NerdWallet, a personal finance website. E-mail: courtney@nerdwallet.com.