While summer can be the fun-filled time of the year IT CAN also be a huge debt trap.  Every year, Americans splurge on summer expenses like trips, hotels, summer clothing, gears, and gadgets. Oh and all those have-nots that people just “need” to make summer extra perfect.

Every mall will hand out “special deals” to hook you in and splurge all the more.  The wise person will and must take one step back (even more) to weigh and assess their needs and wants for a fun-filled summer.

Let me list down usual debt triggers that should help you avoid not-so-obvious traps into the debt kingdom:

1.  Store credit cards - you have your own set and are happy with them, but this store cashier would just say you’d get 10% discount if you purchase thru their credit card.  (and she quickly hands you an application)

2.  The irresistable sales catalogue - sure, the salesperson on the phone is ultra-friendly, but be aware that she’s trying to make a sale.  She’d point out one incredibly priced item on page 11, then quickly would try to get you to turn to page 26 for a similar budget find.  By the time you hang the phone you’ve just spent $500 on items you thought were “steals” but eventually do not need any of them in the first place.

3.  The cool flyers - ah you’ve probably seen this in malls everywhere.  A very good looking gentleman or lady approaches you with a great brochure for a time-sharing deal that will bring you around the world.  By the time you finished with their goodwill, you may have committed thousands of dollars on a trip you don’t plan taking until retirement day!  Keep your summer vacation as simple as possible.  Winter hard days are ahead my friend.

Summer time potentially stages a great event with friends and family, but it doesn’t have to break the bank.  Creativity plays a major part in making sure your summer is within sensible boundaries.  Spend wisely, and think what you are trying to aim for… sometimes a good walk around a park is all it takes to soak up on family time you soooo need this summer.

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