How Kentuckians can stay safe while shopping during the holidays
LEXINGTON, Ky. ( FOX 56 ) — The biggest day of online shopping is coming to an end, but Cyber Monday is a good time for reminders about the money mistakes that are easy to make during the holiday season.
Holiday shopping can be an anxious time for consumers. NerdWallet is just one tool that helps consumers make smart choices.
NerdWallet personal finance expert Kimberly Palmer said, “We are all about helping people decide what’s a good price, helping them track the prices of different products, and to know when to buy because for a lot of items, they are seeing their lowest prices of the year this week.”
Experts say holiday shoppers are seeing greater discounts this year, but part of that reason is because of the higher pricing.
“Because the prices are higher, the discounts when you get 10% off, you’re saving more money. But you’re starting at such a higher point that overall consumers are still spending more,” Palmer said.
Palmer said you should make your shopping list early to find the right prices for those major gifts but also be careful not to get carried away.
“The biggest thing to do this season, especially, is to make your shopping list as soon as possible and then to track the prices of the big-ticket items, and that’s because this year, prices are up across the board, but they’re also fluctuating a lot. So, there’s not one day alone that’s best to buy almost everything,” said Palmer. “The biggest risk for shoppers is getting really swept up in the moment and the enthusiasm of the moment and to overspend and so you really want to set your overall budget from the beginning and then stick with it. Because there are so many sales, it can feel like you’re saving money when you’re spending more, but it can actually just end up meaning that you’re overspending, and then you end up potentially going into debt.”
The Better Business Bureau recommends protecting your personal information and understanding how it will be used. It also says that if you’re shopping on your phone, you should be sure you are using the latest version of the app or operating system. Additionally, avoid using public Wi-Fi. Your information is at risk of theft and fraud on public Wi-Fi.
