Control your online shopping

The bad news is, online shopping makes it easy to buy things you don't need. Also sales and promotions mean it's easy to overspend. In fact, it's possible that factors such as boredom and emotional stress may fuel your online shopping addiction. As a result, you could spend money you don't have and get in debt.

Tips to help you control your online shopping﹕

1. Set a monthly budget and make a list of things you want to buy before you start online shopping. This can stop you overspending.
2. If you found something that you really want to buy. Wait a day or two before deciding. This way you can make sure that you really need it and avoid impulse purchases.
3. Don't borrow money or get into credit card debt to buy what you want. This can often mean that you have to pay interest on your purchases, which can be very high for credit cards. Instead, achieve you goal by saving. You can use our Savings Goal Calculator to make a saving plan and buy only what you need.
4. It's important to know the difference between what you want and what you need, and learn to control the urge to spend.

Though online shopping is convenient, there are risks and you should do it safely. Here are some tips:

• Set a strong password, with at least six or more letters and numbers. Change your password often and don't use it more than once.
• Visit safe websites and don't click on links in emails, searches or pop-up windows, unless you are sure it is secure.
• Use trusted computers or mobile devices.
• Protect your computer or mobile device by installing anti-virus and anti-spyware software. Update your software regularly and set up a firewall.
• Choose encrypted networks for Wi-Fi. Don't use public computers or networks to access your accounts.
• When you download and install any software or apps bear in mind data security and privacy.