Shop Carefully in a Recession

If you’ve got some spare cash then you might be tempted to go shopping as recession-level prices make some goods look more attractive than usual. But if you do, be sure to follow Gerri Willis’s tips to avoid some expensive recession shopping mistakes:

• Don’t buy gift cards or vouchers from retailers that could be in trouble. If they go broke, the chances are unfortunately quite high that you will lose your money. Same goes for redeeming reward points in the form of gift coupons - use them fast or don’t use them at all. Just in case!
• Be careful if you think that bank-branded gift cards might be safer. They might be, if your name and personal details are accurately registered to the card but this is not always the case, and you could lose your money just as easily.
• Be aware of return policies and don’t get caught out. In liquidation sales, make sure you are totally satisfied with what you’re buying because the chance to change it or get a refund won’t last long. Get informed because lots of retailers are changing the time limits on refunds or exchanges - for example, Best Buy shortened theirs by a week, although others have made their exchange time longer - don’t assume that you know from last time.