A Pollara survey was done for BMO suggests, that 34% of Canadians, “…they take a mental vacation from thinking about their finances during the summertime….“.
For those of you who think this is a good idea, read the following line very carefully:
This is a very BAD idea! Mental Vacation? What?
Agreed, I am a little laid back, but it is the summer.
In the summer, when you are going on vacation, out of your regular spending rhythms, and prone to more spontaneous purchases, the last thing you should do is take your “eye off the ball.”
BMO’s resolution to this issue is to use one of their mobile tracking tools, but just keeping track of your receipts and spending is what you need to do (I don’t care how you do it, but you need to do it).
You might also want to check your investments since many exciting things can happen in the markets over the summer (you might think the markets shut down for the summer, but surprisingly, they do not).
I agree that everyone needs a break from watching their money. I like to save this for vacation and just turn off the markets, investments, bills, etc.
I agree it’s worth watching the markets in the summer. The last two years some pretty nice bargains have shown up.
“Taking your eye off the ball” could definitely get you into trouble! It happens so easily, but it’s that easy to end up playing “catch-up” with the bills if you don’t mind your spending.