23 April 2020
Embrace the possibilities of online shopping and keep your money safe with these five strategies from ME.
Australians aren’t wasting a minute grabbing bargains and one-of-a-kind buys, with millions of Australians shopping online*.
Not only convenient, online shopping is generally very safe, especially if you stick to secure sites where the web address starts with ‘https’. Only two out of three of us check if a site is secure** so make this a priority.
With so much choice available, the big risk can be the temptation to overspend. This makes it worth introducing a few personal safeguards to ensure online shopping doesn’t leave you strapped for cash or weighed down by debt.
1. Try the 60-minute rule
Take a 60-minute breather before committing to a purchase. You could find that must-have buy isn’t so essential after all.
2. Read the refund policy – carefully
Always check the fine print on refunds. What timeframe are you given to claim a refund and who pays the freight on goods returned – you or the e-tailer?
3. Check out reviews
If you’re unsure about the quality of merchandise, check for product reviews by trusted authorities (like consumer group Choice). It can help you avoid a dud buy.
4. Keep temptation at bay
Creating a separate email account for online shopping avoids junk mail clogging up your regular inbox and helps you resist the urge to buy stuff you really don’t need.
5. Save smart
Although e-coupons can shave a few dollars off a purchase, don’t let coupons restrict you to a handful of online stores. Shopping around is always the key to a genuine bargain.
* Australia Post and StarTrack research, Inside Australian Online Shopping, 2017
** Veda, Hackers get serious about causing mischief as identity takeovers rise 59% in two years, 7 October 2015
This article is brought to you by ME. For more information, please visit www.mebank.com.au. Members Equity Bank Limited ABN 56 070 887 679 and Australian Credit Licence 229500.
The Trustee and ME are not agents or representatives of one another. The Trustee is not responsible for and does not accept liability for the products or services of ME. ME is an Australian credit licensee (Australian credit licence no. 229500). You should use your own judgement before taking up any product or service offered by ME. TWUSUPER invests in ME but does not receive any commissions as a result of members using ME products and services.
General advice on this website has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, consider its appropriateness. Refer to our Product Disclosure Statements (PDS). The PDS is relevant when deciding whether to acquire or hold a product.