For parents, the start of summer can be an especially expensive time of year between family travel, camps and keeping the kids entertained. And while some may feel pressure to overspend to make the summer fun happen, this could instead be the season where you make a plan to become debt free.
According to NerdWallet’s June Financial Resilience Index, parents of children under 18 are more likely than those without minor kids to say they’ll likely have to rely on credit to manage at least some of their expenses this month — 45% vs. 31%. This monthly index measures consumers’ financial security and strength, as well as their economic outlook over time — components that demonstrate their ability to withstand economic turmoil.
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