Money-Saving (and Security!) Tips for Holiday Shopping in 2020

Money-Saving and Security Tips for Holiday Shopping

Retailers have perfected the art of getting you to spend more during the holiday season through glitzy advertising and enticing offers. Huge events such as Black Friday, Cyber Monday, and Small Business Saturday are also effective at triggering impulse purchases. In 2020, the ongoing COVID-19 pandemic has resulted in massive changes to consumer habits. How do you ensure your shopping doesn’t break the bank while maintaining top-notch security?

Holiday Budgeting Tips

It’s advisable to set a holiday shopping budget, start saving early, and stick to it no matter how tempting the offers sound. Credible budgeting tips include:

1. Create A Shopping List

This method is the best way to curb impulse buying. A useful shopping list contains items that you need and won’t regret buying. You should also limit your gift list to avoid overspending. Buy gifts for a select group of people, such as close relatives and friends. Ensure the cost is within your holiday budget.

2. Compare Prices

There are various offers and sales during the holiday season. Chances are you can get lower prices for the same quality if you conduct price comparisons. It’s easier and faster to do so online. Some established retailers even offer to match the lowest price you can get from their competitors.

3. Keep the Receipts

Be keen on the seller’s return policy. You might discover some items that don’t fit or experience buyer’s remorse once the holiday hype dies down. Receipts make it easier to receive refunds. Most sellers offer emailed versions for added convenience.

4. Take Advantage of Various Discounts

Some websites provide coupons on the most popular items in both online and physical stores. Make a habit of looking for them before checking out. Some savvy shoppers earn discounts by either delaying or abandoning the checkout process. This action prompts the seller to offer a lower price as a way of urging them to complete the purchase.

Tips for Shopping Safely During Holiday

The ongoing pandemic has prompted an enormous shift towards online shopping. Although it’s convenient, it also creates cybersecurity nightmares for both buyers and sellers. The following tips will help you shop securely:

1. Transact On Trusted Platforms

Other than convenience and competitive pricing, platforms such as Amazon have high-grade security features that prevent fraud and spam. They also offer fast and reliable shipping. To avoid front porch package theft, you can opt to receive your items at your place of work.

2. Use Secure Payment Methods

If you’re worried about identity and credit card theft, use a third-party payment system, such as PayPal and other secure payment platforms. Apart from keeping your details private, they allow you to open disputes if the delivered item doesn’t correspond to what the seller advertised. These systems usually also provide security layers that individual retailers wouldn’t match.

3. Beware of Deals That Are Too Good to Be True

Although the holiday season comes with several juicy deals, scammers are also busy trying to steal your hard-earned money. If the price of an item reduces by an abnormal percentage, seek more details before making the purchase. Look for online reviews and customer feedback about the seller. Other factors to consider include; how long the seller has been active, their contact information, and whether they’re a registered company.

4. Keep Track of Your Purchases and Bank Balance

Scammers take advantage of the busy holiday shopping season to increase credit card fraud attempts. If you don’t keep track of your purchases, you could be overcharged, pay for non-existent items, or lose your money altogether. If you notice suspicious transactions in your bank statement, contact them immediately to investigate the source.

These tips are guaranteed to provide an enjoyable holiday shopping experience. Other than keeping you safe from fraudsters, they’ll help you manage your finances better. You’ll also handle the ongoing pandemic well because you’ll only make the most valuable purchases. Please read other posts on this blog for more useful financial tips.