Stat Corner

    Summer is supposed to be the time for sunny days at the beach, BBQs and bonfires - but most American adults equate summer with financial anxiety, according to a new telephone survey conducted for the American Institute of CPAs by Harris Poll.

    According to the survey, about 6 in 10 U.S. adults (59 percent) said their financial tension during the summer matches or exceeds the stress they feel during the year-end holiday season. A majority of U.S. adults (55 percent) said they don’t have a vacation on the calendar this year. For those Americans with summer vacation plans, 41 percent expect to pay an average of $3,000 for transportation, lodging, meals, activities, entertainment and pet care.

    For parents, the financial stress of summer is even greater. Most parents of children under 17 (62 percent) anticipate paying an average of $1,400 for their children’s summer activities including sports camp, day camp, sleep-away camp, tutoring and academic courses, group day care, and in-home child care.

    The telephone survey of 1,005 U.S. was conducted by Harris Poll in recognition of National Financial Capability Month.

    To speak to a member of the National CPA Financial Literacy Commission for tips consumers can use right away, contact Kristin Vincenzo at 212-596-6138 or kvincenzo@aicpa.org.

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