NYC Provides Shopping Tips – NBC New York (47)

NEW YORK — Back to school is just around the corner, and amid inflation, many families are wondering how to afford what they need for the new school year while saving money.

For this reason, the New York City Department of Consumer and Worker Protection (DCWP) released a list of tips of purchases that are available in several languages, like spanish, in which they teach saving to make better financial decisions. An apprenticeship that is aimed primarily at children.

“If your kids are anything like mine, they can’t wait to pick out their new school supplies; but there are some important financial lessons for us and our children as we shop,” said DCWP Commissioner Vilda Vera Mayuga. “We all need to do our homework before we shop, to avoid overspending while teaching our children about wants versus needs and how to budget. Saving money is especially crucial right now for many families as we recover from the pandemic, and with our quick tips, parents can make smarter financial decisions and protect their hard-earned money.”

RECOMMENDATIONS WHEN BUYING SCHOOL SUPPLIES

MAKE A LIST AND CREATE A BUDGET

  • Help your kids make smart decisions when choosing what supplies to buy. Get the teacher’s supply list, and then teach your kids how to create a budget based on how much they have to spend and what they have to buy. If you shop online or in a store, stick to the list and budget.

COMPARE PRICES

  • Use websites, phone apps, and social media to research products, compare prices, and find sales and discounts.
  • Avoid typing in your personal information to receive a coupon (some scammers promise discounts to steal your information).

SEARCH PRICES

  • Stores must display their prices on the item or on a sign where the item is displayed.
  • It is illegal to charge more than the displayed price.

Extra credit: You can read the advice of the department to buy electronics y furniture in nyc.gov/dcwp.

BEWARE OF THE PRICE INCREASE

  • It is illegal for businesses to charge abusive prices for goods or services essential to health, safety, or welfare during a declared state of emergency in New York City.
  • Goods or services include disinfectants, soap, cleaning products, diagnostic products and services, and medications.
  • You can file an overpricing complaint with the NYC Department of Consumer and Worker Protection (DCWP). Visited nyc.gov/dcwp or call 3-1-1 and say “overcharge”. Be sure to include your bill in your complaint.

ASK FOR THE INVOICE AND KEEP IT

  • In New York City, you have the right to receive a bill automatically for purchases over $20 and on demand for purchases between $5 and $20.
  • Protect your personal information: By law, a customer’s bill must not show the expiration date or more than the last five digits of the credit card number.

CHECK STORE PAYMENT AND REFUND POLICY

  • Stores cannot refuse to accept cash payments.
  • It is illegal for stores to charge consumers who pay with cash a higher price for the same product than they charge consumers who pay by credit card or other cashless payment methods.
  • Stores must display a sign detailing their refund policy. If they don’t, you have the right to request a refund within 30 days of your purchase.

PROTECT YOURSELF WHEN YOU SHOP ONLINE

  • If you’re planning to do your back-to-school shopping online, make sure you only shop on secure websites.
  • Use familiar websites or research and read reviews of new websites and check that links start with “https” (not just “http” – the “s” stands for security) or have a lock icon.
  • Avoid typing your personal information when using unsecured Wi-Fi.
  • Do not click on links in unsolicited emails or on social networking sites; type the address directly into your browser.
  • Visit OnGuardOnline.gov to learn more about staying safe, secure, and responsible online.

TEACH YOUR KIDS ABOUT CREDIT AND HOW IT WORKS

  • Explain that credit cards are not “gift money,” and that what you pay on the card must be paid back with interest.
  • Teach them about paying the minimum balance versus the full balance and about the consequences of using a credit card irresponsibly.

RECEIVE FREE FINANCIAL ADVICE

  • Visit nyc.gov/TalkMoney to schedule an appointment with a professional financial counselor from the city’s Financial Empowerment Centers.
  • Work with your advisor to:
    • Manage sudden changes in your budget or income and establish a spending plan.
    • Open a bank account to set up direct deposit.
    • Communicate with creditors and more.

Use: Financial counseling is free and confidential, regardless of your income or immigration status, and is offered in many languages.

KNOW YOUR RIGHTS AND RESPONSIBILITIES REGARDING STUDENT LOANS

If you’re considering taking out a student loan for yourself or your child, or if you already have student loan debt, be sure to read DCWP’s tips and resources at nyc.gov/StudentLoans.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.