At 91黑料网 First, your financial security is our priority. Understanding how these scams work is the first step in keeping your hard-earned money safe this season.

What is “Ghost Tapping”?

Ghost tapping exploits the convenience of . This feature makes checking out fast, but scammers have found ways to use it against shoppers, as noted in .

In a ghost tapping scam, a fraudster uses a portable card reader or a tampered payment terminal to initiate a transaction without your permission. Because the technology relies on proximity, they don’t even need to hold your card. They just need to get close enough to your wallet or pocket to steal funds or card information.

How does the ghost tapping scam work

These scams often happen in crowded, high-traffic areas鈥攅xactly where many of us will be during the holidays. For more on real-world examples and warnings, see recent and guidance from . Here is how it typically happens:

• The accidental bump: A scammer with a hidden reader brushes past you in a crowd. That split-second contact is enough to trigger a small charge on your card.
• The fake vendor: You might encounter someone claiming to raise money for charity or selling small items. They may ask for a tap payment but key in a much larger amount than what they told you.
• The rush: Scammers rely on distraction. They try to rush you through a transaction so you don’t have time to look at the screen or verify the total.

Practical tips to stay safe

You don’t need to stop using the convenience of tap-to-pay, but a few simple habits鈥攎any recommended by experts in and detailed in 鈥攃an protect your accounts.

• Check the screen: Before you tap your card or phone, always look at the payment terminal. Verify the merchant’s name and the total amount. If the screen is blank or looks suspicious, do not tap.
• Don鈥檛 be rushed: If a vendor is pressuring you to pay quickly, take a step back. It鈥檚 okay to slow down and ask for a receipt.
• Secure your cards: Consider using an RFID-blocking wallet. These are designed to block the signals scammers use to read your cards through your pocket or purse.
• Turn off NFC when not in use: If you use a mobile wallet on your phone, you can often turn off the NFC (Near Field Communication) feature until you are ready to pay.
• Monitor your accounts: During the holidays, check your 91黑料网 First account activity frequently. Look for small, unfamiliar charges, as scammers often “test” a card with small amounts first.

91黑料网 First’s fraud monitoring will alert you immediately by phone or email if we detect a suspicious transaction so we can stop the scammer in their tracks. If you notice any suspicious activity on your 91黑料网 First debit card, please contact us immediately. Staying vigilant is the best way to ensure your holiday season remains happy and fraud-free.

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Santa Shock is common, but it doesn鈥檛 have to be inevitable. With a bit of planning, budgeting, and early preparation, you can tackle the holidays without carrying financial stress into the new year. This article explains what Santa Shock is, why it happens, and what steps you can take to prevent and manage it effectively.

Understanding Santa Shock and its financial impact

Santa Shock refers to the financial stress many families face after excessive holiday spending. Between gifts, decorations, special meals, and travel expenses, it鈥檚 easy to lose track of your budget during the hustle and bustle of the season.

While it鈥檚 tempting to go all out for your loved ones, overspending can have long-term consequences. Many families put holiday expenses on credit cards, leading to lingering debt months after the holidays are over. When combined with routine monthly expenses, Santa Shock can snowball into financial strain that鈥檚 difficult to recover from.

Understanding the numbers behind holiday spending is the first step to avoiding financial surprises.

Holiday spending and credit card debt

It鈥檚 no secret that Americans spend big during the holidays. Recent data reveals:

• Average holiday spending: A study by the shows that the average household spends nearly $1,000 on holiday-related expenses annually, including gifts, food, and decorations.
• Credit card debt surge: U.S. credit card balances hit a record , before most began their holiday shopping.
• Post-holiday regret: According to a , 16% of shoppers say they鈥檒l feel pressured to spend more than they鈥檙e comfortable with, up from 13% in 2023.

These numbers highlight one important truth: many families struggle to keep holiday spending under control. The good news? It doesn鈥檛 have to be this way. With careful planning, you can create a holiday season that鈥檚 merry and financially manageable.

Crafting a debt management plan

If you find yourself dealing with Santa Shock despite your best efforts, don鈥檛 panic. There are steps you can take to effectively manage and eliminate holiday debt. Here鈥檚 how:

1. Assess your debt

Start by reviewing your credit card statements to identify exactly how much you owe. Understanding the numbers will help you develop an actionable plan.

2. Consolidate your debt

Consider consolidating your credit card debt to minimize interest charges and simplify repayments. Here are a few options:

• Home equity loans or HELOC: If you own your home, leverage your equity to secure a lower-interest loan for debt consolidation.
• Personal loans: A personal loan with a fixed interest rate can help you pay off your balances faster.
• Cash-out refinance: This option allows you to take out a new mortgage that’s greater than your existing one and use the extra cash to clear your holiday debt. This is a good option if you’re able to reduce your mortgage interest rate as well. If not, you may be better off with a different option for consolidation.

3. Prioritize payments

Focus on paying off high-interest debt first to reduce the total amount you鈥檒l pay over time. This strategy is called the debt avalanche strategy. Alternatively, if you鈥檙e motivated by small wins, start with smaller balances to build momentum. This strategy is called the debt snowball strategy.

4. Cut non-essential expenses

Temporarily reduce discretionary spending in your monthly budget to free up funds for debt repayment. Sacrificing a few luxuries for a short time can help speed up the process.

Strategies for dealing with Santa Shock

The best way to avoid Santa Shock is by tackling holiday spending head-on. Here are a few strategies to help you stay on track:

1. Set a budget

Start by determining how much you鈥檙e willing to spend on the holidays. Include all potential expenses鈥攇ifts, meals, outings, and travel鈥攁nd assign realistic limits for each category. Holding yourself accountable to a written budget will help curb overspending.

2. Track spending

Use tools like budgeting apps (91黑料网 First’s Money Management tool in online banking), spreadsheets, or even pen and paper to monitor your holiday expenses. Keeping tabs on every dollar spent ensures you don鈥檛 surpass your budget accidentally.

3. Plan your gift list

Create a detailed list of gift recipients along with specific ideas and price ranges for each one. Stick to your list while shopping to avoid impulse purchases.

4. Consider homemade gifts

Thoughtful, handmade gifts can be just as meaningful as expensive store-bought presents. Think baked goods, crafts, or a personalized photo album. These options can stretch your budget while still showing your loved ones that you care.

5. Shop sales strategically

Take advantage of sales and promotions like Black Friday and Cyber Monday for the best deals. Doing so can significantly reduce costs without cutting quality.

The importance of early preparation

The key to avoiding Santa Shock next year is to plan ahead and start saving well before the holiday season. Here are a few tips to stay proactive:

1. Start a year-round holiday fund

Open a dedicated savings account for holiday expenses, such as an All Purpose Club account at 91黑料网 First. Deposit a small amount into the account regularly, so you鈥檒l have funds ready when the holidays roll around.

2. Shop early

Avoid last-minute shopping, which often leads to overspending. Picking up gifts throughout the year during sales ensures you鈥檒l find the best deals鈥攁nd less financial pressure in December.

3. Join a rewards program

If you plan to use credit cards for holiday purchases, join a card rewards program that offers cash back or other benefits. Earning rewards can offset some expenses.

4. Set expectations with family

Have an open conversation with family members about gifts and set reasonable expectations. Consider alternatives like a gift exchange or experiential gifts, such as shared outings, that don鈥檛 require large budgets.

Ring in the New Year without breaking the bank

Santa Shock is a common post-holiday reality for many families, but it doesn鈥檛 have to be yours. With thoughtful planning, smart budgeting, and year-round preparation, you can enjoy the holidays without carrying financial stress into the new year.

Whether you鈥檙e consolidating debt or starting a savings plan for next year, 91黑料网 First is here to support you. Open an All Purpose Club account today and take the first step toward a holiday season that鈥檚 both joyous and financially sound.

Happy new year and happy saving!

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Research the charity’s mission

First and foremost you must make sure the mission of the charity you are giving to is one that you can stand behind. A clear mission statement tells you what the organization intends to accomplish, and what causes they support. If it resonates with your personal values and priorities, you鈥檙e off to a good start. A well-established charity or non-profit will have a website which outlines their goals and ways you can help.

Check the charity’s financial health

Reputable charities provide detailed financial information on their websites so you can see exactly where your money is going after you give your donation. Look for organizations that allocate a significant portion of their funds directly to programs and services.

Websites like and offer ratings and in-depth reports on various charities. You can also search the public charities filing database for the Attorney General鈥檚 Office of Massachusetts . They oversee more than 25,000 charities in the state ensuring they follow proper regulations and provide transparency to the public.

Evaluate the charity’s impact

A good charity can quantify its achievements and demonstrate how donations are used effectively. Review the charity’s annual reports to assess its progress and impact. Check its website as well as any social media pages to find other organizations they may be involved with.

It鈥檚 also a good sign to see that a charity has an online presence. Having many followers who like and comment on social media posts tells you they have trust within the community. Read online reviews and search for news reports about the organization. You may be surprised by what you find in the press.

Beware of Scams and Misleading Tactics

Unfortunately, there are scammers who will exploit your kindness and empathy. And charities with shady practices that may choose to line their pockets with your donations instead of investing into programs that help their cause. Properly vetting the charity can ensure that not only are they legitimate, but their donations are going toward something meaningful.

• Verify the charity’s registration: Ensure the charity is registered with the appropriate government agencies. Gifts to a non-qualified charity are NOT tax deductible.
• Avoid high-pressure tactics: Legitimate charities won’t pressure you into donating immediately. A sense of urgency could be a red flag that you are facing a scammer. DO NOT click a link in an email or text you weren鈥檛 expecting that is pressuring you to give. Phishing is the number one cybercrime.
• Be wary of emotional appeals: While emotional appeals can be effective, be cautious of organizations that rely solely on emotional manipulation.

You can file complaints about charities or non-profits on if you believe they are behaving unethically or misappropriating funds.

Consider a Donor-Advised Fund

A donor-advised fund (DAF) is like an investment account specifically for donating funds to charities you care about. How it works: you make contributions that are immediately tax-deductible. While the funds are in the account and you鈥檙e deciding which charities to support, your money can grow so you can give even more.

These accounts are managed by professionals who will disperse your funds to charities you choose when you advise them to. It鈥檚 a good option to grow your giving power over time for larger grants that make more of an impact. And, the flexibility gives you more time to properly research charities first.

By using this guide, you can feel confident in making charitable donations that align with your values and make a positive impact on the world. Remember, to watch out for red flags that could indicate a scam like a sense of urgency, lack of online presence or professionalism, and manipulative emotional appeal.

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Disclaimer: 91黑料网 First was not paid to endorse or evaluate the companies or services mentioned in this post. These links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by 91黑料网 of any of the products, services or opinions of the corporation or organization or individual. 91黑料网 bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. Contact the external site for answers to questions regarding its content.

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What is a Club Account?

A club account, like our All Purpose Club, is a type of secondary savings account that allows you to make regular deposits to save toward a specific goal. Goals like holiday shopping, a vacation, or a wedding for example. You can set up a recurring deposit schedule, such as weekly, bi-weekly, or monthly, to contribute to your account and reach your goal.

It鈥檚 an effective way to save for a specific purpose because it keeps that savings separate from your regular savings. If you鈥檙e someone who is constantly moving money between your savings and checking accounts, a club account can help ensure your holiday shopping money remains untouched, and you can see exactly what you have to spend. Plus, our All Purpose Club earns dividends on balances greater than $10.

Open an All Purpose Club Account

How much should I be saving for the holidays?

First, you have to determine your overall budget and savings goal. You could be saving not only for gifts, but also for food, decorations, and possibly travel. The average American spends , according to 2023 stats. Overall spending continues to increase each year.

We calculated how much you would need to stash away weekly if you began on October 1 and finished on Thanksgiving. Just in time for Black Friday and Cyber Monday deals.

Tips for using a club account effectively

• Set a Clear Goal: Determine how much you want to save for holiday shopping and set a realistic timeline.
• Make Regular Deposits: Stick to your deposit schedule to ensure consistent savings.
• Avoid Early Withdrawals: Resist the temptation to withdraw money from your account before the holiday season.
• Track Your Progress: Monitor your account balance regularly to stay on track.

By using a club account for holiday shopping, you can take control of your finances and enjoy a stress-free holiday season. Start saving early, set a realistic budget, and watch your savings grow!

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1. Choose strong PINs

Avoid obvious PINs like your birthdate, anniversary, or phone number. PINs like 1234 or 1111 are also risky as they are too simple. It鈥檚 like choosing the word 鈥減assword鈥� for your password. Create a PIN that鈥檚 unique and memorable and use a different one for each card you have. The last thing you would want is for your wallet to be in the wrong hands and for the thief to learn the PIN for all your cards.

2. Monitor your account regularly

Check your transactions and review your account activity daily or weekly. This can be easily done through online and mobile banking. The faster you spot someone else using your debit card, the faster you can shut it down. Through our Card Alert Notification Program, we鈥檒l notify you if we detect suspicious activity on your account. If you notice a transaction that wasn鈥檛 made by you, it鈥檚 important that you report it immediately.

3. Protect your card physically

Keep your card in a safe place. Avoid carrying your card in your back pocket where it could be lost or openly where the card numbers can be read. When using your card at a store or at an ATM, always be sure to protect your PIN by covering it. Don’t write your PIN down or share it with anyone. 91黑料网 First will NEVER call you and ask for your debit card or PIN numbers. Be wary of imposter scams.

4. Use secure online shopping

When shopping online, look for the padlock icon next to your browser. This indicates that the website is secure. Secure websites will also be indicated by a url starting with 鈥渉ttps鈥� not just 鈥渉ttp.鈥�

In addition to checking for security, you鈥檒l want to make sure the website you鈥檙e making a purchase from is legitimate. Scammers can create fake stores to collect your card information and money, but never ship you the product they鈥檙e offering. Check for online reviews of the store that are independent from the website itself, social media pages for the brand, and information on the Better Business Bureau. These things indicate a brand is legitimate and established.

5. Be wary of shopping or accessing bank accounts on public Wi-Fi

have logged into their personal email account on public Wi-Fi. Public Wi-Fi networks are open and unsecured, leaving you vulnerable to cyber threats like malware, identity theft, and data interception. Hackers on the same network as you can easily watch your online activities, capturing login credentials, debit card information, and personal messages.

Another tactic cybercriminals use is mimicking Wi-Fi networks with a malicious hotspot. For example: you may think you鈥檙e connecting with your caf茅鈥檚 free public Wi-Fi, CafeLatte, but a cybercriminal has actually set up an 鈥渆vil twin鈥� hotspot network called CaFeLatte, switching only one letter in the name to fool you.

6. Never click on suspicious links

Phishing links can be sent by scammers through email, text messages, and posted online disguised as advertisements. If you think you have received a phishing link through email or text, always verify the sender is who they say they are before clicking on anything. It can be easy to identify phishing emails and texts because they are likely to arrive unexpectedly. Fake advertisements online are tougher to identify, but here are some ways that you can tell:

• Ads offering a deal or sale that seems too good to be true.
• Ads designed to panic you 鈥� such as a warning that your device is infected with a virus. If this is in your browser and not coming from your antivirus software, it is fake.
• Clickbait 鈥� ads with a headline about some juicy celebrity gossip that can鈥檛 possibly be true or news so shocking you must learn more.
• Ads disguised as a button that looks similar to the brand of the website you are on but isn鈥檛 quite the same. Like a fake 鈥渄ownload鈥� button that actually leads you away from the website.

Stay vigilant

By following these guidelines, you can significantly reduce the risk of debit card fraud and protect your financial information. 91黑料网 First鈥檚 Card Alert Notification Service is complimentary for everyone that has our debit card. Backed by Mastercard 庐, you are covered with Zero Liability鈥� protection, meaning we won鈥檛 hold you responsible for 鈥渦nauthorized transactions鈥�. For even more security, you can enroll in program at no additional charge.

Stay vigilant, and don’t hesitate to report any suspicious activity.

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How can you budget and save for your summer vacation?

Determine your overall budget

A good rule of thumb to follow when budgeting your overall expenses is the 50/30/20 rule. This means 50% of your income is reserved for fixed costs like your mortgage payment, utilities, food, and childcare. 30% is used for discretionary spending. The last 20% is saved. If you follow this method, your vacation budget will be part of your 30% discretionary income.

If you鈥檇 like to get an idea of your overall spending and find out whether you are staying within these percentages, Money Management in online banking includes budgeting tools that organize and categorize your spending so you can see the full picture.

What should you include in your vacation budget?

It鈥檚 important to think of all possible things you may need to spend money on during your trip. Set a realistic total vacation budget for yourself based on what your family can afford, then break it apart and determine how much to allot for each of these spending categories. Here are some things you should not forget to include on a list of expenses:

• Travel/transport including airfare, gas, toll fees, rental cars, rideshare services or taxis
• Lodging/accommodations including tips for housekeeping or room service
• Food and drink including tips for wait staff
• Activities
• Souvenirs

See how much you should be saving monthly to reach your vacation fund goal with our Savings Goal Calculator

How can you cut back on spending during your vacation?

Travel & transport

Save yourself the airfare and rideshare costs by traveling locally. If you must fly, try booking your flights in the middle of the week rather than weekends, as the prices are typically lower. In New England, there are a plethora of locations within driving distance that make great vacation spots. You could relax on the beautiful beaches of Rhode Island or Maine, taste the fresh maple syrup of Vermont, or hike the mountains in mostly every New England state. In one of the most historic areas of the country, there鈥檚 no shortage of museums, public parks, and history tours for the family to enjoy. Just remember to account for gas and parking when you travel in your own car.

Accommodations

Like with airfare, consider traveling during weekdays to save money on hotel rooms and book when there may be deals available, either through the hotel itself or third party travel sites. Also consider booking with a travel or rewards focused credit card so you can earn cash back or rebates on your travel purchases. You could save money by choosing alternative accommodations like a rental house or campsite. Another option: invite more people to join you on your vacation so there are more people to help split the bill.

Food and drink

Bring plenty of your own food and drinks to avoid having to eat out for all three meals every day. If flying, consider stopping at a grocery store once you land. You can even experience the local culture by shopping at fresh meat and produce markets and cooking local dishes. If your hotel or motel offers complimentary breakfast, always take advantage of that. When you are eating at a restaurant, avoid soft drinks and have water instead (it鈥檚 almost always free).

Activities

Plan ahead and prioritize free or cheap activities. Certain public parks or museums might be totally free. Most are free for children under a certain age (look for student discounts if you鈥檙e traveling with any students!). Keep in mind though, that even free parks or beaches may have a parking cost involved if you bring your car. These ideas are cheap or free activities you could plan for your summer vacation:

• Sightsee at local landmarks, statues, or art installations
• Relax on the beach
• Hike local trails
• Visit State or National parks
• Visit local art and history museums
• Enjoy public attractions like street performances, parades, or fairs

Souvenirs

Start saving up early for your souvenir spending money. Try to rely on cash for these so you aren鈥檛 charging them to a credit card that you鈥檒l end up paying interest on. One thing you can do to help you save is pause or cancel unnecessary subscriptions. Since our behaviors change in the summertime, you may not need all your streaming services if you鈥檒l be spending much more time outside or away from your house. Likewise, you may not need your gym membership if you鈥檒l be too busy to use it.

Try booking with a travel agent

One final tip to help you stay within your budget for a vacation: book with a travel agent. Travel agents book so often that they receive special offers from hotels and airlines that may be difficult to get on your own. If you give them a budget, they will stick to it and plan a trip that works for you. So you don鈥檛 have to worry about overspending.

Packing it up

Ultimately, you should decide what is important to you during your vacation. For example, if you travel specifically to try food at local restaurants, then you may not want to bring your own groceries and cook for yourself. As long as you stay within your budget, it鈥檚 up to you to decide which areas you should cut back on, and which are worth spending on.

Card security you can trust while you’re away

Your 91黑料网 First debit Mastercard庐 comes with complimentary fraud monitoring. So if we detect a suspicious transaction, we’ll notify you right away. If you accidently leave your card behind during your travels, you can have peace of mind that Zero Liability⁴¹ protection means you won’t be held responsible for unauthorized transactions. Card Management in online and mobile banking puts you in total control, allowing you to turn your card off with the touch of a button.

Need to withdraw cash while you’re traveling? There are nearly 30,000 fee free ATMs in our SUM and CO-OP networks. Find One Now

Keep your vacation savings separate from your main savings. Start savings for a specific purpose with our All Purpose Club account.

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