Smart shopping
Tips on how to save money while surviving seasonal rushes and scams
Thursday, November 29th, 2007
Have you ever almost gone broke during the holidays? It’s hard to resist the holiday shopping season, especially if you have something you desperately want to buy. It’s a natural tendency to spend more money than usual while holiday shopping because there are so many of sales and items to choose from. Shopping can be fun, but often times it can drain your bank account if you aren’t a smart shopper. These little tips should help you become a much smarter shopper for the upcoming holiday season.
Photo by Catherine Coquillette
1. Research and plan ahead
Research is vital for optimal shopping success, says Linsey Shupe, who worked as a professional shopper and gift-buyer. Take advantage of advertisements that you might normally ignore. Also, compare prices of your favorite items on the Web to be sure you get the best deal.
It is wise to make a list of must-haves, Shupe says. Balance your budget after making this list, then if you have a little extra money you can spend, make a “might-have” list of items you would like to have, but do not need.
Researching is important because you will be able to get the best out of what you want, even if it takes some time. Kevin Perkins, Dallas senior, spent two hours on the internet last November to find the most reasonably priced digital camera. He says he was happy with his decision because he knew he made the right one, especially after putting his energy into researching.
“Retailers will mix regular-priced items, or even over-priced items among the bargains. Shoppers tend to be riding high on the adrenaline of a good buy and can fall victim to an unwise purchase,” Shupe says.
2. Take advantage of online shopping
Since Sam Warwick, Lawrence sophomore, learned about online shopping when he was a senior in high school, he’s done more shopping online than offline. He says driving 30 minutes to a crowded mall isn’t really time-efficient. Warwick points out that online shopping is quicker, cheaper and easier. For example, he bought a new DVD player for 50 dollars cheaper than if he had bought the same DVD player at a store.
There are many ways to get good deals online. Web sites such as www.couponshare.com provide many coupon codes that can save some money, says Annette Yedidiah, author of Best of the Web: A No-Fluff Guide. Online shopping malls usually provide many benefits if you join their mailing list or newsletter. Also, online coupon codes can save incredible amounts of money, Yedidiah says.
“A click of the mouse is easier than running. And more times than not they have the size and color of whatever I am looking for,” Yedidiah says.
Online shopping tips
1. Check out the seller.
If you’re thinking about shopping on a Web site that you’re not familiar with, call the seller’s phone number or type the site’s name into a search engine and look for reviews. Also, read the site’s privacy policy to vlearn how it uses and shares your personal information.
2. Know what you’re getting.
Read the seller’s product description closely. Name-brand items at greatly reduced prices could be counterfeit.
3. Keep a paper trail.
Print and save records of your online transactions, including the product description and price, the online receipt, and copies of any e-mails you exchange with the seller.
4. Know the full price and check out incentives.
If you’re looking for the best deal, compare total costs, including shipping and handling. The holiday season is a prime time for online retailers, and many are offering incentives like free shipping.
Source: Federal Trade Commission www.ftc.gov
3. Beware of credit card fraud
Holidays are a prime time for thieves to get in on a piece of the action. Credit card fraud usually increases this time of the year, says Emmet Smith, who owns an online shopping mall, www.ewebproducts.com, and is also a member of the American Marketing Association. Smith provides consumers with a detailed explanation of how to avoid even the most cunning fraud.
The typical scam works like this: The person calling says, “This is John Doe, and I’m calling from the Security and Fraud Department at VISA. My badge number is 12460. Your card has been flagged for an unusual purchase pattern, and I’m calling to verify. This would be on your VISA card which was issued by (name of bank). Did you purchase an Anti-Telemarketing Device for $497.99 from a Marketing company based in Arizona?” When you say “no.” The caller continues with, “Then we will be issuing a credit to your account. This is a company we have been watching and the charges range from $297 to $497, just under the $500 purchase pattern that flags most cards. Before your next statement, the credit will be sent to (gives you your address), is that correct?”
When you say “yes,” they will continue to act like employees from the card company and eventually will ask you to give them their ultimate goal: security numbers, which are the last three numbers on the back of your card. People easily fall into this trap because they provide all of your personal information except what they want the most from you, Smith says.
“Never give anyone who calls you your credit card security number. Instead, inform the caller that you will be calling the credit card company directly to verify the credit card activity or better yet, realize you are talking to a criminal and just hang up. Then call the credit card company,” Smith says.
So, make sure to hold your wallet or purse tightly and don’t ever give others your personal information, especially during the holiday season.
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