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Budgeting & Saving

Audio: Budgeting for Summer Fun

Need to chart a course for summer adventure? Make sure your budget is doing all it should to help keep your finances intact while road trips, long days, and pool times beckon. Review our quick tips to make sure your financial roadmap for summer fun includes all it should, so you don't approach Labor Day with a financial hangover.
 

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Transcript:

Welcome to Credit 101. Simple answers to the most common credit questions like, "How should I budget for summer?"

Summer is the season for family vacations and camp for the kids. But it's also a time of year that can get expensive, fast! So prepare ahead of time with these four simple tips. That way your summer plans can go, well, according to plan!

Tip one: Save early. Start budgeting now to pay for all the expenses that may arise later on. Often times, it's the little things that can really add up. Meals, field trips, tour fees, and souvenirs should all be part of your planning. The sooner you plan, the more prepared you'll be.

Tip two: Expect the unexpected. Even if you've planned your vacation down to the last dime, you can still get hit with extra expenses. They might include last-minute ticket changes, replacement luggage, or cancellation fees just to name a few. So save a little more than you need to make sure you're covered.

Tip three: Consider using a dedicated credit card just for your summer expenses. Whether you're paying for a week of camp or a two-week family getaway, a dedicated credit card can be a great way to keep track of your spending. In fact, most travel-related services require a credit card to make reservations. So why not pick a single card for all your expenses throughout the season? You might even earn rewards or air miles you can use towards your future travels.

And last but not least, tip four: Protect your credit while you're away. Call your bank and let them know when and where you'll be travelling. This can help prevent your card from being declined if the bank spots an out-of-town charge and puts a freeze on your account. It's summer after all. Freezing is the last thing you should be dealing with!

So there you have it. If you have credit questions, post them on our Facebook page at Facebook.com/Experian and we'll answer them. Maybe even right here on our next episode of Credit 101, brought to you by Experian.

Thanks for listening and we'll catch you next time.

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