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Fire up the BBQ’s, pull off the cover to the swimming pool, get out your white pants and sandals, the weather is hot and humid – summer is officially here!
Summer is one of those times of the year when it can really be easy to go overboard with over spending. There’s something about all that nice weather that makes us reach into our pockets and spend, spend, spend.
We have vacations, graduations, and weddings, just to name a few costly occasions. But you don’t have to go broke this summer trying to manage all these events. There’s some ways you can save money this summer if you know where to look.
Follow these tips to manage your cash this summer so you won’t be broke by fall:
1. Plan Ahead
This tip might not help you this year as much as it will help you next year, but I have to share it.
For those of you who read my newsletter regularly you know I value budget planning. Events like birthdays, weddings and the like should be well thought out and planned for so you know you have the cash on hand.
Review what you spent last year and figure out if you have any special occasions coming up in the year ahead. Maybe mom and dad are celebrating their 25th wedding anniversary. If so, you know that you need to account for a present and possibly a big bash to celebrate the occasion.
No matter if the event will be big or small, you can easily plug these events into your budget by knowing ahead of time that you’ll be dolling out some cash.
2. Wait for the Sales
Do you need some new summer clothes? Wait!
Believe it or not, stores will be clearing out their current selection of merchandise for the fall line by end of June. If you wait you could really benefit from the sales.
At the end of June, stores like JC Penney have one of their biggest sales of the year with 70-80% off their summer stock. That’s a huge savings and one that’s worth waiting for.
3. Enjoy What’s Free
Fun does not have to mean expensive! Most cities and towns offer a host of free events all summer long. Concerts, festivals, fireworks displays, movie events and more are available if you do some research. Pack some snacks and the fun is even more affordable. It doesn’t have to be expensive to have a good time!
4. Plant A Garden
There’s no other time of year to plant a garden than summer. And the return on your investment of time and seed is delicious home-grown fruits and vegetables that will help to slash your food budget. Burpee Seeds estimates that $50 spent on vegetables seeds will save an average family $1,250. If you do it well enough, not only will you feed your family all summer, but a lot of the yield can be canned or frozen for future use, pushing those savings right into fall.
5. Turn Down Your Water Heater
In the cold winter months, I crank up the water heater. But if I forget to turn it down when the summer hits, I’m wasting a ton of money. On average we spend $310 -$400 to heat water. By turning down the temperature you could save almost half that amount.
Summer doesn’t have to be expensive and it doesn’t have to break the bank.
With some planning and willingness to do it differently, this summer could be the first summer you head into fall more financially stable.