Be cautious during Cyber Monday

Does Apple Still Sell Computers? (notes)

By Bahiyah Shabazz, MBA

This is such an exciting time for the economy.  As we know, when you save which is also great gesture you aren’t putting as much money back into the economy.  The businesses are drastically effected from hiring new personnel to keeping the doors open. The day after Thanksgiving marks the beginning of a shopping frenzy.  Black Friday as the phrase has been coined, represents the day when companies bottom lines are no longer in the red.

Consumers strategically plan their night by engaging in an emotional spending activity.  If you were to check with the same consumer six months into the new year, s/he would probably have no use for the discounted sale item(s).  At times, the purchase is more so a bragging right to explain to everyone how they conquered what others only dream of.

If you weren’t able to shop during Black Friday have no fear…Cyber Monday is here.

Cyber Monday is a marketing term for the Monday immediately following Black Friday, the Friday following Thanksgiving Day in the United States, created by companies to persuade people to shop online. The term made its debut on November 28, 2005 in a press release entitled “‘Cyber Monday’ Quickly Becoming One of the Biggest Online Shopping Days of the Year”.

Ideally, consumers will take advantage of the same opportunity offered during Black Friday with the convenience of shopping at any location and without gridlock traffic.

When shopping online consumers must provide a valid credit card number for purchases.  Although, we are a trusting society everyone should proceed with caution.  Identity Theft is  one of the leading crimes.  Unfortunately, once you become a victim it’s hard to prove who you are while restoring your credit. Take the steps to be careful.

Shop on familiar sites

You will be spammed with numerous sites offering the lowest prices with extreme discounts.  Although the merchandise and prices are tempting you want to make sure the site has a SSL Certificate.  You also should look for sites that have HTTPS.  Both protocols provide encrypted communication to secure identification.

Shop with a prepaid debit card

The convenience of purchasing a debit card is at your finger tips.  The  activation fee is a small price to pay when considering the possible consequence.  During the holidays more people are victimized even during familiar shopping centers and restaurants.   Storing your holiday spending on a prepaid debit card will alleviate identity theft and keep you within your budget.

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“Love yourself enough to support yourself.”

© 2011. SMG, LLC

4 thoughts on “Be cautious during Cyber Monday

  1. I’ve always been concerned about my identity when shopping online. I’m purchasing an American Express debit card today. Thanks!

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