More Consumers Plan To Spend More

A recent report projected more consumers will spend during the summer months, with a more than 10 percent increase in frequency compared to the same period in 2010.

The report, by direct marketing company Valpak, projects 28 percent of consumers will spend more in the coming months than they did last summer.

The price of gasoline has hindered some spending habits, and the report noted approximately 66 percent of consumers changed the way they spend their money. More than 30 percent of consumers prefer generic items over brand names in order to penny-pinch. Another 40 percent plan to purchase the same amount, but with more coupons and added deals involved.

Summer can be a time of increased spending due to the larger amount of outdoor events and vacations. Consumers who plan to spend more should tread cautiously, especially if they have significant credit card debt. It may not be a great idea to put leisure costs over credit card debt payments, and keeping this in mind may prove to be a credit rating saver down the road.