How Not to Get Burnt This Summer

by Billy Martell on July 30, 2014

Something there is about summertime that fills a person with the sense that anything is possible — and that they can pay for it. Perhaps the abundance of sunshine chemically alters the brain such that it temporarily imagines a different financial situation than is the reality. As such, this season has an unfortunate reputation for expensive indulgence, leaving in its wake an obligation to pay the bills just as the colder weather creeps in.

sweet-summertime-8But summer need not to be the season of excess for which it’s developed a reputation. And, better yet, you can still have a blast in the sun. Here’s how:

  • Entertainment expenses, including beers on the patio, ice creams on the stroll and spontaneous dinners out, are major enemies to your wallet in the summer. Being aware of this tendency is the first step to avoiding it. Limit your “treats” to planned excursions, and stick to a budget for those.
  • It’s always an eye-opener just how expensive some summer camps can be. Elite, specialty camps are particular culprits. Check out the tuition subsidies on offer at many of these high-end beauties, or just enroll your little darlings in the city-run offerings, which can be every bit as engaging at a fraction of the price.
  • Cottages are big money grabs at this time of year. Whether renting a week or two at someone else’s, or entertaining at their own, cottagers tend to so want to get the most out of the narrow window that is summer in this country that expense becomes of little object. Steaks get purchased, wine gets uncorked, Sea-Doos get financed. Why not rent a more modest cottage a few rows back from the lakefront, try potlucks and burgers, instead, and avoid costly spontaneous indulgences in favour of the pure pleasure of a toy-free summer swim.

And if you’re worried you’ve already overindulged in your summer budget, get in touch with a bankruptcy trustee before the sun sets on your finances.

Billy Martell – who has written posts on Bankruptcy Hamilton Ontario.

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