By Carol A. Kando-Pineda, guest blogger
Still finishing up your holiday shopping? The Federal Trade Commission (FTC), the nation’s consumer protection agency, has these tips to help you wrap up your plans without getting scrooged.
Make a list and set a budget.
Who do you plan to buy gifts for and how much do you plan to spend? Don’t forget “hidden” costs like cash gifts, holiday travel, extra food, wrappings, decorations, greeting cards, and postage.
Shop around.
A “sale” price isn’t always the “best” price – and if you don’t want or need an item, “Buy One, Get One Free” is not really a deal. Some merchants may offer a sale price on the item you want for a limited time; others may offer discounts everyday. A retailer might match, or even beat, a competitor’s prices. Check out websites that compare prices. But if you buy online, factor in shipping costs and delivery time. Ask about refund and return policies.
Clearance merchandise may be on final sale, meaning no refunds or exchanges. What if you buy an item at regular price and it goes on sale the next week? Ask if you can get a credit or refund for the discounted amount.
Clip coupons.
They can save you money on what you’re already planning to buy, but check for restrictions. Don’t flash cash. Keep an eye on your wallet and on your credit or debit card during transactions. Get your cards back as quickly as possible. Report lost or stolen cards to the card issuers immediately. Keep detailed records about the transaction and save your receipts. You might need them for returns and exchanges. Check receipts against your monthly bills and statements, and report any problems to the credit card issuer promptly.
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