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Last updated on Wednesday, May 7, 2014
(UNDATED) - For many Americans, the holidays bring thoughts of financial stress, but a new survey finds summer can cause just as much anxiety.
The American Institute of CPAs found about 60% of adults say financial stress during the summer can be just as stressful if not more so than the holidays.
The survey found the most stressful parts of the season are activities for children and summer vacation planning. Six in 10 parents plan to spend an average of $1,400 on things like sports camps, day camps and academic tutoring.
CPA experts suggest using this time to include children in summer planning decisions.
"This is a great opportunity for us to teach the next generation how to handle their finances," said Ernie Almonte, of the American Institute of CPAs.
When it comes to vacations, 41% of those planning a summer getaway expect to shell out around $3,000. If that number seems high, researchers suggest avoiding travel on holiday weekends when flight and hotel prices go up and look for freebies like continental breakfast and shuttle service.
"If we can teach people to handle their budgets, you can enjoy your summer, you can enjoy your holidays, and you can enjoy your relationships, without having the stress of finances," said Almonte.
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