By Consolidated Credit Counseling Services of Canada

holiday shopping christmas ornament
Photo by freestocks.org via Unsplash

Do:

Always use a credit card to purchase items while holiday shopping. If you are scammed, you typically owe $50 or less for the loss instead of the whole amount. If you are new to shopping online, stick with companies you have heard of. When you enter the shopping cart or the e-commerce area of a site, check the beginning of the web site’s address, or URL secure servers show “https” instead of “http”.

If you participate in an online auction, check the references of the seller. They are usually on the auction website. Factor shipping costs into your purchase price while shopping. It is often quite expensive to ship from the US to Canada if you are shopping on a US company’s site.

Don’t:

Never put credit card information or personal information like social insurance numbers in an e-mail. Legitimate shopping websites use special forms. Never respond to offers that come in unsolicited e-mails — these are often scams.

General Money Management Tips for Holiday Shopping

  • Pay yourself first. Set up a separate savings account once you get paid and immediately transfer a portion (start with 5% of your regular deposit amount) to the savings account. Attempt to forget about the account in order to prevent unnecessary withdrawals.
  • Only access the funds upon emergency.
  • Collect and write notes on your cash purchase receipts. This will help you track spending and raise awareness of your spending habits.
  • Sell items that are losing value.
  • Review all insurance coverage for duplication, raised deductibles, etc.
  • Take advantage of consignment shops, rebuilt, and used items.
  • Start doing things yourself and do not pay someone else.
  • Begin saving one dollar-a-day and all pocket change, every day.
  • Wait for sales.
  • Comparison-shopping sometimes can save you more than 50 percent.
  • Make two shopping trips:
     1. On the first trip compare prices and value. Avoid carrying credit cards, too much cash or a checkbook on these shopping trips.
     2. The second trip is when you actually make the purchase after having determined the best value.
  • Use coupons wherever possible and send in for rebates.

Happy shopping!