12 Money Tips for the Summer
Who doesn’t love summer? The warm weather, vacations, cookouts and outdoor living! It’s easily my favorite season. But summer can quickly become expensive. It costs money to travel, to send your kids to camp, to keep bringing dishes to all those parties and cookouts.
And for some reason (maybe it’s the general relaxed, let’s-just-have-fun vibes), summer also tends to be when we throw caution to the wind as far as our finances go.
But here’s the thing: It’s possible (and advisable) to take in all the summer amazingness, while making wise money choices along the way.
Here are 12 money tips that will help you enjoy your summer to the fullest!
1. Keep budgeting.
Just because the summer hits doesn’t mean you should hit pause on your budgeting. You can make adjustments to your budget to better accommodate your summer lifestyle. But whatever you do, just keep budgeting! You need a plan for your money in June, July and August just as much as any other time of the year.
If you stop budgeting, you run the risk of overspending significantly. You also run the risk of losing momentum, and it can be really hard to get back to budgeting after that.
2. Consider increasing your grocery budget.
With all the cookouts and get-togethers, you have to factor into your budget all those dishes you’ll be contributing. So be sure to up the grocery budget accordingly! (And, if necessary, decide which other area of your budget you may be able to cut back on a little to make up for it. 😉)
3. Don’t spend too much on groceries if you’re going to eat out more.
If you usually go out to eat more frequently during the summer, make sure you’re not still spending your normal amount on groceries. If you do, much of that food will likely go bad or end up forgotten in the back of the fridge somewhere.
Balance things out. If you know you’re going to be eating dinner out twice one week, remember that as you’re grocery shopping. You’ll only need enough food for 5 nights of dinner at home, not 7.
4. Go out to eat on nights when kids eat free.
While we’re on the topic of going out to eat, if you have kids, aim for those “kids eat free” nights.
Do a quick Google search for “kids eat free,” and you can find a ton of national chains as well as local spots that offer this perk!
5. Don’t stop paying off debt and saving.
Just like with budgeting, if you pause on this, it can be really hard to get back on track.
Plus, all the time you spend not paying off debt is just time that interest is accruing and increasing your balance. And as far as saving goes, you don’t want to slow down the progress you’ve been making towards your goals! 💪🏽
6. Use sinking funds.
Sinking funds are funds where you set aside smaller amounts of money each month in order to easily pay for larger expenses later. For a ton of great sinking fund ideas that can change the game, check out this blog post.
As far as summer goes, it makes things much easier on your summertime wallet to save a little each month throughout the year for significant summer expenses. To name a few:
Summer camp for the kids
Property taxes (if you live in a location where they’re due in the summer)
Travel/vacation
There’s nothing like knowing the money is there when it’s time to book that vacation. You can lock in those flights, book that hotel, and even buy a few cute new vacation pieces. 😉 No financial stress or spending guilt getting in the way of your vacation vibes! 🌴
7. Travel at the end of August.
Vacation can be expensive during the summer because it’s a peak travel time. Families everywhere are going on vacation while school is out. Because of the high demand, most things are more expensive, from airfare to accommodations. And the higher prices impact everyone, not just people with kids.
With that being said, most families choose not to travel the last weeks of August because it’s so close to the start of the new school year (if school hasn’t already begun by then). As a result, travel prices tend to be lower.
If you can make it work, schedule your summer vacation at the end of August to make things more affordable.
8. If you’re going on a vacation with children, consider a cruise where kids stay and eat free.
There are quite a few cruises that offer this option. Aim for those if you have kids. That way you can enjoy the all-inclusive-resort-on-the sea experience and save quite a bit of money!
9. Seek out free activities.
Summer is the time when lots of cities and towns offer free events and activities.
A few free things to be on the lookout for in your area: museum admission, zoo admission, activities hosted by the public library, outdoor movie screenings, street festivals, outdoor concerts or music festivals, etc.
10. Find entertainment at great prices on Groupon.
I’m a huge Groupon fan. No matter who you are, you can find a deal you’re interested in. They’ve got a little bit of everything. Activities, beauty & spas, hotels & travel, food & drink, health & fitness…you name it!
They really do offer some great deals, and there are often promo codes to get a discount on your discount. Gotta love that!
11. Cash in on your credit card reward points.
Since we know the summer months tend to be more costly, my husband and I always store up our cashback rewards until the summer. Then, we use the rewards towards paying off our credit card bills. (Disclaimer: We always pay off our credit cards in full each month so we avoid debt.)
Using cashback rewards frees up some of the cash we would have used to pay off the credit cards. We can then use that money for some of our other summer costs. 🙂
12. Shop during holiday weekends for great sales.
It seems like just about every store offers a Memorial Day and 4th of July sale. A lot of stores also offer Back-to-School sales.
If you’re looking to shop, whether it’s for clothes, furniture, appliances, or even a car, be strategic. Plan to shop during holiday sales and save some money!
Conclusion
And there you have it! Twelve tips to help you make the most of your money so that you can make the most of your summer. 😃
Your summer can be just as fun, exciting, or relaxing as you want it to be. Whatever type of summer you’re aiming for, these money tips will help you enjoy it all the more!
Which money tip do you think is most helpful? Have any other money tips for the summer? Share in the comments below!
