The Onset of Summer Spending

n the summertime - when the weather is fine - Canadians just don't like being bogged down with financial responsibilities, a new report reveals.


The TD Canada Trust Summer Spending Survey reveals that the majority of Canadians throw their budgeting (38%), saving (37%) and bill payments (50%) out the window in favour of taking advantage of the warmer weather.

While this is easy to understand, it's also easy to avoid. Below are a few tips to keep in mind:

1.    Set your budget in cooler months.
One of the best times to set a household budget is in the cold, winter months following the New Year - when your head is still throbbing from that holiday credit card hangover. At that point, it's best to set up a few different savings accounts - including one for Christmas/holiday spending and vacations. If the summer is a soft spot for you, why not sock a little bit extra aside for those care-free months as well?

2.    Take advantage of free activities.
While there are a lot of expensive things to do in the summer, there are also a lot more free activities as well! If enjoying the sun is your main priority, you can do that in a variety of ways - including those that are easier on your wallet. Instead of hitting a patio, why not host a BYOB barbeque at your place? Or keep an eye out for free summer concerts, fringe festivals and other forms of entertainment that seem to happen every weekend in the summer. If you have one nearby, a beach or pool is also a cheap way to keep cool.

3.    Automate those payments!
If your prime bill-paying time is on weekends, and if your weekends are taking you out of town, make it a priority to automate as many payments as possible. This is the best (and easiest) way to ensure you're getting those bills paid. While you're at it, why not automate your savings as well, before you have a chance to spend the extra cash on a patio somewhere?