Can you separate a bargain from a trap? Take the quiz to find out!

 The holiday shopping season is approaching, so it’s time to prepare yourself financially and mentally for the stress of parting with your hard earned money. Millions of shoppers will flock to stores on Black Friday this year, and millions more will search for hot deals online come Cyber Monday. However, they may be unaware of the traps being laid for them by retailers with their flashy signs and ads for “special deals.” 

Don't get suckered into a trap while you're out shopping
this holiday season!

This raises the question: how savvy a shopper are you?

The following questions will test all aspects of consumer intelligence. Let’s get started:

Would you like to open an ABC Store credit card to save 15% on today’s purchase?: bargain or trap?
Joining an auto club, like AAA: bargain or trap?
Using tax software to prepare your tax return: bargain or trap?
Paying for a copy of your credit report: bargain or trap?
Using a no-contract cell phone service: bargain or trap?
Getting vitamins or medications at the dollar store: bargain or trap?
Going shopping at outlet stores for brand name clothing: bargain or trap?
Providing your email address to receive email discounts: bargain or trap?
Buying long-term care insurance: bargain or trap?
Taking out a payday loan to pay for immediate purchases: bargain or trap?

Check your answers with the correct ones below. How well did you do? If you got 8-10 questions right, you’re consumer intelligence IQ is off the charts; 6-7 correct, you do pretty well when shopping; 5 or less correct, you’ve likely been wasting money on your shopping trips.

These questions were designed to see if you could identify when a purchase was smart or a waste of money, a lifetime skill that can end up saving you a good amount of money over time. Lincoln Savings Bank hopes everyone shops with these tips in mind for a better, less stressful holiday season. Good luck, everyone!

Lincoln Savings Bank, Member FDIC

Answers: 

1. trap 2. bargain 3. bargain 4. trap 5. bargain 6. trap 7. bargain 8. bargain 9. bargain 10. trap