ARLINGTON, Va. — In addition to leaving cookies out for Santa, shoppers should prepare for the season before overexerting their holiday cheer or getting robbed blind by cyber thieves.
Establish a budget, NAFCU recommended, before doing any actual purchasing. Set a limit among your family and friends or start a gift exchange tradition. And do not forget to include gift-wrapping, cards and shipping costs in the budget. Plan ahead for what you might want to buy someone so you can comparison shop and keep an eye out for coupons and quantity discounts.
Consumers should study their payment options while holiday shopping and be careful not to be lured into "enticing payment offers." NAFCU also noted that credit unions are still hosting some free financial literacy classes and counseling sessions to help with the holiday season. Christmas club or other higher yielding savings accounts are available through credit unions.
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Practical and personal gifts can be the best, according to NAFCU. A gift card to a movie theater could be perfect for a movie buff or an evening of babysitting for parents is a welcome winner.
However, while shopping, consumers must keep their guard up to keep the holiday season from turning disastrous financially. "If you plan to shop online," NAFCU advised, "make sure that the sites where you are shopping are secured by the padlock symbol or "https" in the address line. Also, do not respond to unsolicited email offers. This is high season for phishing attacks. Criminals may send you an email directing you to a phony site or posing as a financial institution where they solicit your personal information. Remember to update anti-virus programs to ensure your computer is protected with the latest software."
Finally, keep the peace by keeping the spirit of the season foremost in mind and remember that enjoying the holidays with family and friends is "priceless."
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