logo
Experts warn of back-to-school shopping scams, offer tips on saving as concerns over higher prices rise

Experts warn of back-to-school shopping scams, offer tips on saving as concerns over higher prices rise

CBS News3 days ago
Many families are bracing for sticker shock as back-to-school shopping gets underway. The National Retail Federation says nearly half of families started shopping early over concerns about tariffs driving up prices.
But if you're on the hunt for deals, experts say to make sure you're watching out for scams.
"We're all looking for deals, and what attackers do is they exploit this," former FBI counterintelligence operative and cybersecurity expert Eric O'Neil said.
With the average cost per child for just the basic classroom essentials now up to around $144, it can be tempting to go for the lowest price you can find. But O'Neil warns that scammers have done their homework, which means that deep discount could be a fake.
O'Neil says scammers send out phishing emails advertising big deals or post ads you might see while scrolling through social media. It's all in an effort to get you to click on their fake website, where they can steal your banking information.
"They know that everybody is out there scrolling, and you'll see this amazing reel or this amazing ad that'll pop up. And then the parents will go to a website that has good grammar and images, and they'll even put reviews in there that they've created, but the whole thing is manufactured by criminals," he said.
To avoid this, only shop with retailers you know and go directly to their websites. If you are tempted to try a new site, be sure to check reviews or complaints before you order. If the deal seems too good to be true, O'Neil says it probably is.
But that doesn't mean you still can't save.
Consumer savings expert Andrea Woroch says the best place to start shopping is at home. First, see what you already have that you might be able to reuse. Then consider second-hand when it comes to those back-to-school outfits, she said.
"There are many resale sites online that make it easier to find the name brands your kids really want," Woroch said. "I like sites like Poshmark, The Real Real, Tradesy, ThredUp, these are sites that sell second-hand fashion for 50-80% off regular retail prices. Sometimes you get the tags still on them."
Likewise, she says you can do the same with electronics by looking for certified refurbished gadgets. For example, Woroch said you can save 56% off the refurbished Fire HD 10 Plus tablet at Amazon. Just make sure you're buying through a reputable store that offers a warranty like Amazon Renewed or Best Buy, according to Woroch.
When it comes to figuring out whether you're actually getting a deal, Woroch says sites like CamelCamelCamel, or browser extensions like Honey can help you shop smarter by showing you an item's price history.
"This will tell you if that deal that retailer is promoting is, in fact, the lowest selling price," Woroch said. "You can actually set sale alerts using tools like Karma, and this will alert you when that product does go on sale."
Woroch also suggests buying discount gift cards from apps like CardCash to use toward school purchases at stores like Macy's and Office Depot.
Do you have a money question, a consumer issue, or a scam story you want to share? Email InYourCorner@cbs.com.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

How To Earn $500 A Month From Applied Materials Stock Ahead Of Q3 Earnings
How To Earn $500 A Month From Applied Materials Stock Ahead Of Q3 Earnings

Yahoo

time25 minutes ago

  • Yahoo

How To Earn $500 A Month From Applied Materials Stock Ahead Of Q3 Earnings

Applied Materials, Inc. (NASDAQ:AMAT) will release earnings results for the third quarter after the closing bell on Thursday, Aug. 14. Analysts expect the tech company to report quarterly earnings at $2.36 per share, up from $2.12 per share in the year-ago period. Applied Materials—a supplier of chipmaking equipment to Texas Instruments' U.S. factories— projects to report quarterly revenue at $7.22 billion, compared to $6.78 billion a year earlier, according to data from Benzinga Pro. Some investors may be eyeing potential gains from the company's dividends. The company currently offers an annual dividend yield of 0.97%. That's a quarterly dividend amount of 46 cents per share ($1.84 a year). To figure out how to earn $500 monthly from Applied Materials, we start with the yearly target of $6,000 ($500 x 12 months). Next, we take this amount and divide it by Applied Materials' $1.84 dividend: $6,000 / $1.84 = 3,261 shares. So, an investor would need to own approximately $619,688 worth of Applied Materials, or 3,261 shares to generate a monthly dividend income of $500. Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $1.84 = 652 shares, or $123,900 to generate a monthly dividend income of $100. View more earnings on AMAT Note that dividend yield can change on a rolling basis. The dividend payment and the stock price both fluctuate over time. The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change. For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60). Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40). Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease. AMAT Price Action: Shares of Applied Materials rose by 0.8% to close at $190.03 on More: Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLIED MAT (AMAT): Free Stock Analysis Report This article How To Earn $500 A Month From Applied Materials Stock Ahead Of Q3 Earnings originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store