K&H: the phone has become the most practical Christmas payment method

It is especially easy to lose control of our spending before Christmas. The list is long, time is getting tighter, and when a touch with our card or mobile phone is enough, the money disappears almost imperceptibly. That is why it can be very helpful to set a budget for gifts, decorations, and programs at the beginning of the holiday season, and to discuss this with the family. If children also have their own bank card or mobile payment option, it is important for them to understand that what they spend is family money, just as if we were giving them cash, only in digital form. According to K&H experts, neither cash nor traditional bank cards will disappear overnight, but for everyday spending – from shopping to transportation to the big holiday rush – it is clear that mobile payments are gaining more and more ground. For young people, this is often the default solution, while the older generation is also gradually opening up to digital forms of payment, according to the financial institution’s compilation.

Smartly, safely!

Awareness does not mean that we “deprive” ourselves of the holiday, but rather that we do not drift away with impulses that can lead us to unnecessary purchases. It can help if we introduce thinking time for larger gifts: if we would buy on impulse, out of sudden excitement, give ourselves at least a day. If the next day we still feel that it really brings joy and fits into the budget, then we can buy it, if not, then we have saved an unnecessary expense. It also matters a lot if we do not go shopping “just like that”, but set off with a well-thought-out list, so there is less chance that the total amount will double at the checkout due to a few sudden ideas.

According to the K&H compilation, sustainable gift-giving also helps to focus on attention rather than the amount of money. A homemade cake, a handwritten message, an album of family photos or a “voucher” for a joint event is often worth more than an expensive but impersonal object. Renovating an old toy, bicycle, furniture or gadget is both budget-friendly and environmentally friendly, and it is also a good opportunity for children to learn that buying new is not the solution for everything. Today, it is completely natural to give a used, good-condition book, toy or clothing as a gift, and in fact, we often find truly special pieces this way.

Convenient, fast card and mobile payment is only a blessing if we also pay attention to security. We should never share our PIN code and passwords with anyone, do not use combinations that are easy to guess, and do not write them down on the card or the phone case. Make sure your mobile phone has a strong screen lock – fingerprint, facial recognition or a code that is difficult to guess – because if our bank card “travels” in our phone, the device itself is also our wallet. It is worth turning on instant notifications for every transaction, so that if we see a suspicious charge, we can take action immediately. When shopping online, it is especially important to enter our card details in a reliable, well-known webshop and check whether the approval interface used by the bank is actually displayed. If the card or phone is lost, stolen, or an unknown transaction appears, the first step is to immediately block it and notify the bank. We can take action with a few simple steps in the K&H mobile bank and through customer service, which is especially important during the holiday season, when there is more shopping and fraudsters are more active.

Can also be learned in a playful way

At Christmas, it is natural that we want to bring joy, but we don’t have to overspend, and it is not the amount of expenses that determines how “successful” the holiday was. If we prepare with a conscious framework, thoughtful gifts, following some basic safety rules, and a little more homemade, renovated or experience-based surprises, we can look at the tree and the bank statement with more peace of mind in January.

The educational material prepared for the K&H watch out, ready, money! quiz series provides students with comprehensive information about card payments and secure smart payments. During the competition, all participants can learn how to manage their finances in a playful way. Elementary and high school students can enter the contest