Five Biggest Summer Spending Blunders

It’s that time of year again. You’re feeling carefree and in the mood to … spend. Hang on to your wallet and beware of the following, according to MSN Money:

Weddings
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. If you see something on sale now, pick it up. The bride will never know you got it for half price.

Garage sales
Warm weather inspires many people to drag out the junk they don’t want and sell it to someone else. Block the temptation–don’t stop at a yard sale unless you’re really looking for something.

Camping
This year you’ll forego the fancy hotel and plane trip and rough it in the woods. Be careful, that $450 sleeping bag that will keep you warm down to -10 degrees Fahrenheit might not be what you need–in the summer. Outdoor sporting goods retailers know consumers want the coolest equipment. Also keep in mind 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 now $194.98. Consider 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. It’s easy to use plastic, but your worst nightmare could be paying for that summertime fun after your tan has faded. If you think you will need to use a credit card, talk to someone at Hopewell Federal Credit Union. Credit union credit cards interest rates generally are lower than bank credit card rates.

Copyright 2010 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved. 

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