Summertime is a time for rest and relaxation.  It’s vacation time with family and friends.  Some high school and college students will take summer classes; some will graduate.  Parents and grandparents have enrolled their children and grandchildren in various camps and some have scheduled vacation days to visit amusement parks, go hiking, biking, white water rafting, jet skiing and so many other fun summer activities and places.  MANY high and college graduates are on trips with their families and some have scheduled group vacations.  Before you get on the plane, train or automobile, there are a couple of questions to ponder:

  • Have you properly planned ahead?

Planning ahead for road trips, summer classes or any other summer activities is imperative.  While it’s exciting to do fun things with your family and enjoy your summer, be wise with your planning and spending.  Determine what your plans are for the summer, create a budget specifically for your summer events and stick to it.

Spending without a plan could be detrimental to your ability to meet your monthly obligations.  Start with the end in mind.  Ask yourself, what will be the end result if you decide to splurge without a budget or a plan?  Once the fun is over, the late charges and delinquent notices will begin.  Are you prepared to battle that or want to once you return home?

  • How will your finances recover spur of the moment plans?  If you have planned properly; CONGRATULATIONS, no recovery steps are needed.  However, if you have not planned well and you are back from enjoying your various trips and activities; take action and communicate with your creditors.

Simple, but VERY important!  open your mail and determine what’s due now, contact your creditors and make arrangements if you are unable to pay your bills.  To avoid contact could make your situation much worse.

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