Cutting summer spending - KYTX CBS 19 Tyler Longview News Weather Sports

Cutting summer spending

(CNN) -   We often think of the holidays as a peak time for financial stress, but summer spending can add up too. A new survey shows the season of school breaks and warm weather can actually present more money tension than the holiday season. The American Institute of CPAs found about 60% of adults say financial stress during the summer either matches or exceeds what they're feeling during the holidays. 
Among the top summer expenses, the children. Between sports camps, day camps, academic tutoring and more- 6 in 10 parents plan to spend an average of $1,400 for the summer. The whole family should be part of choosing those activities carefully, and planning how to pay for them.

"This is a great opportunity for us to teach the next generation how to handle their finances." says financial expert Ernie Almonte.

Another huge chunk- vacation. Of those who do plan a summer getaway, 41% said it'll cost them an average of $3,000. If that number seems high, there are some ways to cut back.

Avoid weekend travel, especially holiday weekend travel if you can, when room rates and flights will be at their highest. And, look for travel options with freebies. like free breakfast and free airport shuttles at hotels. It's also a good reminder that family budgeting, shouldn't just be a seasonal priority.


"If we can teach people to handle their budgets, you can enjoy your summer, you can enjoy your holidays, and you can enjoy your relationships, without having the stress of finances."
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