Financial Wellness Minute: Holiday Scams to Watch Out For

Get smarter about your money with this Financial Wellness Minute. I'm Jackie Formo, manager from Mid Minnesota Federal Credit Union's Fergus Falls Office. During the holiday season, it's important to be extra cautious to protect yourself from scams that can spoil the holiday cheer.

• Social media shopping scams are taking advantage of the convenience and popularity of online shopping during the holidays. Be wary of deals that seem too good to be true. Always verify the legitimacy of the seller and read reviews before making a purchase.
• Charity scams prey on people's generosity. Phony charities may seek donations through phone calls, emails, or even in person. Before donating, research the organization and verify its tax-exempt status.
• Vacation rental scams target those planning a winter getaway. Deceptive listings may promise luxurious accommodations at unbelievably low prices. Consider using reputable booking platforms with insurance options.
• Shipping email and text scams increase with the large amounts of online purchasing during the holiday season. Never click on the links, go to the shipping website directly and enter the tracking code provided with your purchase.

Should you get caught in a scam, first, do not be embarrassed. Immediately contact your financial institution, retailer and report the scam to the authorities. Want to know more or have a weekly financial wellness tip sent to you? Sign up at mmfcu.org or contact your local Mid Minnesota Federal Credit Union Office. Mid Minnesota Federal Credit Union is federally insured by the NCUA and we are an equal housing lender.