Quiz | September 2009
How Savvy a Holiday Shopper are You?
iStockphoto
Make your list and check it twice. Then before you hit the mall or the Web, find out how savvy you are when it comes to holiday shopping. You just might learn some things that'll save you money.
Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 1 of 10
Gift cards backed by Discover, MasterCard and Visa:
A. Never expire.
B. May not expire depending on what state you live in.
C. Will expire no matter where you live.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 1 of 10
Gift cards backed by Discover, MasterCard and Visa:
You're right! C. Will expire no matter where you live. is correct.
Sorry, wrong!
is incorrect.
The right answer is C. Will expire no matter where you live..
They expire no matter where you live. Thirteen states prohibit retailers from imposing expiration dates on gift-cards. But pre-paid cards backed by the national credit-card issuers don't count. You'll have to use them or lose them, typically within two to three years. American Express doesn't impose an expiration date. But watch out for fees on gift cards from all four issuers.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 2 of 10
If you buy something and decide you don't want it, the store must give you your money back.
A. True
B. False
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 2 of 10
If you buy something and decide you don't want it, the store must give you your money back.
You're right! B. False is correct.
Sorry, wrong!
is incorrect.
The right answer is B. False.
Return policies can vary dramatically. If you have your receipt, some stores will give you your money back, but often that's only if you return the item within a certain period of time. (And some may charge a re-stocking fee.) Other stores may only give store credit. And some shops consider all sales final. Without a receipt, you'll probably get store credit or your return may be refused altogether. Not sure about the store's return policy? Ask.
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Quiz
How Savvy a Holiday Shopper are You?
Getty Images
Question 3 of 10
What are "shopping bots?"
A. Web sites for comparison shopping
B. In-store price scanners for customers
C. Small computers mounted on shopping carts
D. Coupon e-mail services
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Quiz
How Savvy a Holiday Shopper are You?
Getty Images
Question 3 of 10
What are "shopping bots?"
You're right! A. Web sites for comparison shopping is correct.
Sorry, wrong!
is incorrect.
The right answer is A. Web sites for comparison shopping.
Shopping bots can be a bargain hunter's best friend online. You simply type in what you're looking for, and they troll the web for prices to give you a side-by-side comparison. Some popular bots are PriceGrabber.com, mySimon.com, Shopping.com and Froogle.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 4 of 10
When booking airline tickets, it's generally cheapest to fly on
A. Sunday
B. Monday
C. Wednesday
D. Thursday
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 4 of 10
When booking airline tickets, it's generally cheapest to fly on
You're right! C. Wednesday is correct.
Sorry, wrong!
is incorrect.
The right answer is C. Wednesday.
Wednesday's the cheapest, according to Rick Seaney, CEO of FareCompare.com. (An exception to the rule: The Wednesday before Thanksgiving, the busiest travel day of the year.) Sunday is typically the most costly. During the holidays, you can save money by flying on the holidays themselves -- Thanksgiving Day and Christmas Day.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 5 of 10
How can you tell if a Web page is secure before entering your credit card number?
A. It posts a Better Business Bureau logo
B. The address starts with https://
C. The site said it's secure, so you can trust it
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 5 of 10
How can you tell if a Web page is secure before entering your credit card number?
You're right! B. The address starts with https:// is correct.
Sorry, wrong!
is incorrect.
The right answer is B. The address starts with https://.
Think of it as the "s" standing for "secure." When you're shopping online, check the URL at the top of the check-out page asking for your personal information. Some Internet browsers may also display a padlock or a key on their status bar to confirm the site's security.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 6 of 10
Zero-payment and zero-interest financing promotions are always great deals.
A. True
B. False
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 6 of 10
Zero-payment and zero-interest financing promotions are always great deals.
You're right! B. False is correct.
Sorry, wrong!
is incorrect.
The right answer is B. False.
They sound like great deals -- "Buy now and pay no interest until 2010" or "no monthly payments for six months" -- but they could cost you more in the long run. You usually have to sign up for a store's credit card, and interest is typically charged to your account from the date of purchase, at a rate much higher than the average credit card. If you pay off your purchase before the interest-free/no-payment period ends, you'll come out ahead. If not, you'll typically owe all that accrued interest. Read the fine print.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 7 of 10
Is it better to buy a late-model 2008 car at year-end, or a new 2009?
A. 2008 model
B. 2009 model
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 7 of 10
Is it better to buy a late-model 2008 car at year-end, or a new 2009?
You're right! B. 2009 model is correct.
Sorry, wrong!
is incorrect.
The right answer is B. 2009 model.
Carmakers' incentives on 2008 cars may tempt you to skip the 2009 models just coming into showrooms. But unless you get a huge discount on the '08, you'll likely come out ahead buying an '09 model. The reason: depreciation. As they've sat on the lot, the 2008 cars have already bled resale value, and will cost you more in the long run than if you spring for the newer model.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 8 of 10
Should you use your credit or debit card to buy online?
A. Credit card
B. Debit card
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 8 of 10
Should you use your credit or debit card to buy online?
You're right! A. Credit card is correct.
Sorry, wrong!
is incorrect.
The right answer is A. Credit card.
When you buy with a credit card, by law your liability in case of fraud is limited more than with a debit card. Plus, if there's a problem, you don't run the risk of draining your bank account while the kinks are worked out. Of course, with credit, you'll want to pay off your balance immediately or you'll rack up interest charges.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 9 of 10
It may be a good idea to misspell when searching for an item online.
A. True
B. False
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 9 of 10
It may be a good idea to misspell when searching for an item online.
You're right! A. True is correct.
Sorry, wrong!
is incorrect.
The right answer is A. True.
Of course, you'll want to search smart, but searching dumb can pay off too. Especially on community seller sites like eBay and Craigslist where sellers are more prone to misspell than professionals. While everyone else bids on the Duncan Phyfe table, you could have the "Duncan Fife" table -- same antique, wrong spelling -- all to yourself.
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 10 of 10
When's the best time to shop for the holidays?
A. Day after Thanksgiving
B. Week before Christmas
C. Any time
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Quiz
How Savvy a Holiday Shopper are You?
iStockphoto
Question 10 of 10
When's the best time to shop for the holidays?
You're right! C. Any time is correct.
Sorry, wrong!
is incorrect.
The right answer is C. Any time.
Sure, you can snag incredible deals on some choice items on Black Friday or the week before Christmas, but you'll probably do best if you don't rush yourself and keep and an eye out for bargains all year long. You'll have more time to come up with gift ideas, comparison shop and wait for online coupons and free-shipping deals. Make sure you know the store's return policy, though. Buy too early and you might not be able to return a gift if you change your mind or if the recipient wants a different size or color.
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Quiz
How Savvy a Holiday Shopper are You?
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