Five Summer Spending Mistakes and How to Avoid Them

It’s that time of year again: you’re feeling carefree and in the mood to spend. Here are five common spending mistakes, according to MSN Money, that you can plan ahead to avoid this summer.

On average, there are 2.5 million weddings celebrated each year, many in the summer. If you’re on the guest list, plan ahead and budget for gifts so you aren’t left overspending last minute. If you see something on sale now, pick it up–they’ll never know you got it half price.

Garage sales
Warm weather inspires many people to drag out the junk they don’t want and sell it to someone else. Many times people end up buying a “good deal” on items they don’t really need. Block the temptation to stop at a yard sale unless you’re really looking for something–and have that item (and a price) in mind when you do stop.

This year you may forego the fancy hotel and plane trip to rough it in the woods–and possibly save yourself some vacation money. Be careful though, many people end up overspending on camping equipment they don’t need. That $450 sleeping bag that will keep you warm down to -10 degrees, but might not be what you need in the summer. Plan ahead, research online, ask advice, make a list and set a budget to help avoid overspending. Also remember to budget in park entrance fees, campsite fees and other items you’ll need such as firewood and food.

Don’t be taken by the “Old Ball Game”
According to Team Marketing Report, the cost for a family of four to attend a major league ballgame including tickets, food and beverages, and souvenirs is around $200! Consider having a home bbq and watching the game on TV. Or if you do go, eat before the game and set a limit as to what you’ll spend on extras.

Credit cards
Consider leaving the credit cards at home when you can. It’s easy to use plastic, but your worst nightmare could be paying for that summertime fun after your tan has faded. Or check into getting credit card connected to your Liberty Savings accounts–many times credit unions are able to offer lower rates than bank credit cards.

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