Black Friday and Cyber Monday Safety Tips
Keeping you—and your wallet—out of harm’s way this holiday season.
The holiday season is fast approaching, and with it comes the highly anticipated shopping events of Black Friday and Cyber Monday. Regardless of whether you’re shopping in-person, online, or both, being prepared is key in snagging deals, staying safe, and making smart financial decisions.
This blog will walk through safety tips to consider before you shop, while shopping online and in-person, and after your check-out is complete. This keeps you, your family, and your finances in good shape.
At Encompass Credit Union, we’re committed to being your trusted financial partner. With decades of serving members in Tipton, Kokomo, and Frankfort, we want to help you shop smart, save money, and steer clear of scams this holiday season.
Before You Shop
Set a budget: Decide how much you’re able to spend overall, who you plan to buy gifts for, and how much you want to spend on each gift. Going into shops with a personalized budget can help avoid post-holiday financial stress.
Create a list: Jot down any specific items you want the most or gifts you need to buy to help keep your shopping focused.
Research deals: Use trusted websites and store apps to compare prices of items before you buy. Also, keep in mind that not all “sales” are genuine—knowing the actual price of your gift beforehand will give you the upper hand.
Check store hours: If you have your eyes on a door-buster deal or a limited-time promotion, check the hours of the store or the sale to ensure you’re planning accordingly. Some stores have sales the entire week leading up to Black Friday and Cyber Monday. Check to see if your bargain items go on sale prior to the weekend or if they’re only at a reduced price for a specific time frame.
Track spending: Set up alerts on your credit card or banking apps to track spending and notice irregular transactions quickly.
Cyber Monday Shopping Tips
Be cautious with Buy Now, Pay Later (BNPL) services: BNPL options have surged with the likes of Klarna, Affirm, and Afterpay. Consumers are projected to spend over $1 billion on Cyber Monday this year using BNPL options. While these services can be helpful for budget flexibility, it’s important to understand their terms and conditions to avoid overspending or falling behind on payments.
Use secure sites only: Look for URLs that start with https:// and/or have a lock icon. These indicate encrypted websites with safer connections.
Don’t use public Wi-Fi networks: Public Wi-Fi networks can be hotspots for hackers. If you're shopping on the go, use your phone’s mobile data or a secure VPN connection to protect your personal and payment information.
Don’t click on suspicious links: Never click links or provide information in unsolicited messages. Instead, verify offers directly on retailer websites or call customer service through official phone numbers.
Use strong, unique passwords: Create complex passwords for all shopping sites and avoid reusing passwords. Password managers and security software can help simplify this task.
Check return policies: Some retailers may have different return policies during the holiday season or if a product was purchased on Cyber Monday. Review them before checking out to avoid any surprises later.
Schedule deliveries: If you’re traveling this holiday season, schedule your package deliveries for when you're home or arrange for in-store pickup. This helps prevent theft and ensures you receive your items safely.
Black Friday Tips
According to CapitalOne Shopping Research, consumers in Indiana are 13.8% less likely to shop online than to shop in-store.
Shop off-peak hours: Unless there’s a doorbuster deal you’re trying to secure, most stores have deals going on all day (or all week). Avoiding peak-hour crowds, as best you can, helps you to prevent slips, trips, and falls, as well as avoid any stampedes.
Go with family or friends: Going shopping with someone else can help alleviate some of the stress of navigating busy stores. Crowded environments can be overwhelming and potentially dangerous for kids. If possible, consider leaving the little ones at home. But no matter who you go with, it’s always good to have a designated meeting spot in case of separation.
Use credit cards or a digital wallet instead of cash: Credit cards offer better fraud protection than debit cards or cash, both of which can pose higher risks. Digital wallets (like Apple Pay or Google Pay) provide an additional layer of security by masking your card details, protecting your cards from being skimmed.
Protect your personal belongings: Keep bags zipped and close, avoid leaving valuables in carts, and don’t store your phone in your back pocket. Crowded stores make it easier for pickpockets.
Be careful in parking lots: No one wants to lug around a bunch of shopping bags as they're trying to browse. Hide valuables and newly purchased items in the trunk of your car or place them out of sight. Park in well-lit areas, and remember to lock your vehicle doors when leaving and entering. Between busier parking lots and winter weather conditions, staying alert––whether you're a pedestrian or behind the wheel–– can help you stay safe.
After Shopping
Watch your finances: Monitor your bank and credit card statements for unexpected charges. The earlier you spot suspicious activity, the faster it can be addressed.
Report fraud right away: If you see suspicious transactions, report them to your bank or credit card company immediately. Most institutions have 24/7 fraud hotlines or mobile app reporting tools.
Track your packages: Use tracking numbers and sign up for text or email delivery notifications. Porch piracy increases during the holidays, with nearly 40% of Americans having had packages stolen from them.
Return items in a timely manner: Retailers often have shorter return windows for holiday purchases or items marked "final sale." Return gifts or unwanted items as soon as possible to avoid missing the deadline, being stuck with merchandise, and missing out on a refund.
Encompass’s Commitment to Our Community
Since 1953, Encompass Credit Union has proudly served Tipton, Kokomo, and Frankfort with a strong focus on community. Our deep involvement means we understand your needs and challenges, particularly around important financial moments like the holiday shopping season.
Conclusion
Black Friday and Cyber Monday can be great opportunities to save, but only when you shop smart and stay safe. Set a budget, research deals, use secure payment methods, and keep an eye out for scams. Encompass Credit Union is here to help you every step of the way, from protecting your money to empowering your financial future. Contact us to learn more about our services.