By Michael Naughton
Being a college student is hard enough, but attempting to purchase gifts while on a student’s budget during the holiday season is downright stressful.
The Massachusetts Bankers Association, a representative of 225 commercial, savings and cooperative banks and savings and loan institutions in New England, released a list of 17 holiday shopping tips for the typical consumer. The list is designed to protect consumers from compulsive buying, debt and, more seriously, identity theft.
The first tip on the Holiday Shopping and Finance Management List is to create a budget. The budget should include decorations, holiday gratuity and cards. A well-thought-out budget will help avoid unnecessary buying.
Next on the list, the Massachusetts Bankers Assoc-iation offers several tips to help the consumer avoid a stolen identity.
One suggestion the list offers to prevent identity theft is for shoppers to check their wallets before leaving the house, making sure they do not have any ID cards that may contain personal information, such as a social security number.
Because identity theft has grown and become more of a problem, according to the Mass-achusetts Bankers Association, frequently using personal checks when making retail purchases can be as dangerous as losing a license or social security card. Handing over personal checks to a temporary employee working for a retail store could make a shopper more vulnerable.
Freshman communications major Laura Seminara has her own method to keeping her finances protected.
“I try not to use my checks,” said Seminara. “I mostly use my debit card instead.”
The Holiday Shopping and Finance Management list of tips also suggests to use caution before shopping over the phone or on the Internet. The holiday season is traditionally the busiest time of year for the post office and ordering gifts early, whether by phone or computer, would be a wise idea to ensure an on-time delivery.
Shopping over the Internet can make any consumer vulnerable to identity theft if the proper precautions are not taken. Some ways to prevent identity theft online, according to the list, include using a credit card, not a debit card, and never giving out passwords, social security numbers or bank account numbers.
While some students are worried about which DVD or Playstation game to get loved ones, others are exploring other more cost-efficient ways to wish family and friends a happy holidays.
“I plan on spending less money than I did last year because I am going to make more homemade gifts,” Seminara said.
After the holiday season ends, the returning begins. The list suggests that asking about refund and return policies and keeping receipts is one way to save on aggravation that could come right after the holiday season.
Some of these tips seem, to freshman English major Jessica Stein, as tips everyone should be aware of because they are “definitely common sense tips.”
The last suggestion the Massachusetts Bankers Association Holiday Shopping and Finance Management list of tips offers is to have a happy holiday, which is a good idea despite one’s financial situation.
