The Federal Trade Commission has issued suggestions to help Americans keep their money and identities safe as they shop for presents and other items of good cheer.

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So, before you deck the halls, be sure to take these precautions.

• Know the terms of your payment plan. Before you take advantage of a layaway program, make sure you fully understand the fine print. While layaway can be a great way to budget for big purchases, some plans have huge penalties for late or missed payments and offer no refunds for customers who want to cancel.
• Hang on to your receipts. You may want to make a special place for holiday receipts, which often contain important return policy information in addition to documentation of your purchase.
• Ask about returns. The credit crunch has led some retailers to change their policy for unwanted gifts and other returns, so be sure to ask before you fork over your cash. Many stores are particularly unwilling to take back clearance items.
• Stay skeptical. Don’t let your holiday spirit get in the way of clear thinking. Some online bargain gift cards are fakes or come with outrageous fees and restrictions. Make sure you read all fine print before proceeding to checkout.
• Watch out for charity solicitations. Some scammers take advantage of the holiday atmosphere to raise money for fake charities. Always ask for written information about an organization before donating. Verify this on your own. Don’t let door-to-door solicitors pressure you into donating – ask for materials and say you’d like time to consider.
• Resist the promise of easy credit. Online offers of quick lines of credit can be tempting to those looking for extra shopping funds, but most such offers are scams. Navigate away from the page.
• Make a budget and check it twice. Don’t forget to factor in all the holiday extras: ribbons, wrapping, food, cards, travel expenses, parking for shopping trips, etc. Planning for all the little things will take some time, but it will save you stress in the long run.
• Watch out for wire scams. Unless you know a person and are expecting to wire money, don’t agree to do so. Money wiring scams are common and can be costly.

For more details and suggestions on protecting your money, visit the FTC’s website. For serious financial help, speak with a bankruptcy attorney.

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