More Than Half Of American Parents Went Over Their Summer Budgets
September 5, 2019
“A new survey from TD Ameritrade finds that 52% of parents with children under 18 spent more than they intended to this summer.
The average summer debt for those parents is $1,960 this year. That compares with just $563 for parents with adult children. Overall, Americans have an average summer debt of $1,605 this year.
The top reason that parents of children under 18 spent more this year was wanting to treat their family and kids, with 55% of those surveyed. One other cause: Twenty-three percent felt pressured to shell out the money…”
Living outside your means is not a good way to “treat” your children or give your children a “treat” for that matter. There are cheaper / free ways to do this. Go to the park for example. Spend more time with them. Teach them the value of a dollar and who knows maybe they’ll actually make money. I bet some of you older folks remember when children used to have lemonade stands.