This Week In Your Wallet: Giving Tuesday & 35 Days Of Holiday Savings
How are those pointer fingers and thumbs feeling post Thanksgiving weekend? I ask, because the preliminary results are in and it looks like more of you chose clicks over bricks this year, opting to shop from the comfort of your couch. Over 103 million people shopped online last weekend, while nearly 102 million went on foot, according to the National Retail Federation. The survey also found that more people shopped than originally anticipated: Earlier in November, 136 million said they had planned to shop, and over 151 million did.
It was a pregame for Cyber Monday, when consumers spent just shy of $3 billion, according to digital firm Adobe. As you continue to tackle your list, look to TODAY.com for my Advent Calendar of Savings! Everyday – for a total of 35 days – I’ll post savings tips to help your wallet get through the holiday season.
We’ve already punched out eight days (which you can catch up on here), and today we’re focusing on Giving Tuesday and charitable giving tips. For example, do you know if the following statement is true or false: If you make a donation to a charity, you automatically get a tax deduction. Find out the answer and quiz yourself here.
More On #GivingTuesday
In the midst of all of the spending (and saving, I hope), today’s a good reminder to funnel some of that good fortune to those who could really use it. Today – the Tuesday after Cyber Monday – has officially become known as Giving Tuesday, or rather #GivingTuesday. (The 92nd Street Y and U.N. Foundation founded it back in 2012.) With social media, and specifically the hashtag on its side (as Reuters reports), last year people donated $45.68 million on the day, according to GivingTuesday.org.
If you’re feeling like you’d like to give back — and you’d like to donate today —GivingTuesday.org offers a list of participating organizations. Also know that giving back doesn’t just benefit the recipients, but the givers, as well. Research says giving back makes us happier, healthier and less stressed. You might get some tax breaks and it can even benefit you at work. Oh, and research has also shown that channeling gratitude can help curb the urge to impulse buy.
Winter-Proof Your Wallet
The temperatures are dropping, which means it’s time to winter-proof your home so that your wallet doesn’t feel the chill. The good news is that heating costs are expected to be lower this year. The United States Energy Information Administration predicts the average household’s spending on natural gas will be 13% lower, while spending on heating oil will be 27% lower. Favorable predications aside, now’s the time for a few protective measures, like a heating system tune-up.
As The New York Times reports, the average heating system tune-up (which generally covers your pilot light, ignition system, electrical connections, blower motor and thermostat) will run you anywhere from $50-$100. However, the alternative — paying for an emergency replacement or repair – will cost you much more. Another thing to consider is the age of your heating system. Models installed before 1975 are usually 60% efficient, whereas newer models are 85-95% efficient. Efficiency ratings have to do with how much energy goes into actually producing heat. So, for example, if your system is 85% efficient, then that means 85% of its energy creates heat and 15% is lost. And depending on where you live, you could save over $115 on your annual bill by switching to a high-efficiency system, according to the Environmental Protection Agency’s Energy Star program. The Energy Department offers a chart to help you estimate your potential savings here.
Score Safe Deals Online
Cyber Monday has come and gone, but consumers will continue to shop online all month long, which is why USA TODAY put together a list of smart shopping tips to help you score safe deals. For starters, make sure your computer has its latest security software and that it’s updated with a new password. And when you’re shopping online, make sure the site (or page) you’re about to checkout from begins with “https.” The “s” is crucial here.
Shoppers should also be wary of fake pop-ups and texts from well-known retailers and banks. Fake pop-ups could be a sign that your computer is infected. Force quit them, shut down your computer and run a security scan. And finally, fraudsters are now texting people posing as their banks, saying that their cards have been frozen, and in order to reactivate them, they need to input their account information immediately. Don’t. Instead, contact your bank directly to see if it actually came from them.
Have a great week,
Jean
