While summertime living may be easy, it’s also quite expensive if you’re not careful and unfortunately our expenses don’t take a vacation. Many expenses increase, which wreaks havoc on a budget. Some of the most frequent costs that can “sneak up” on you if you’re not prepared include:
- Higher energy bills.
- Increased gas prices.
- Summer camps and childcare, including babysitting.
- Shopping needs, such as new clothes, wedding presents, and outdoor gear.
- Eating out more frequently.
- Family vacations and travel.
- Expensive activities, such as visiting waterparks, amusement parks, concerts, and more.
Let’s look at a few ways we can combat these common budget-busters and actually save money this summer.
1. Make a Meal Plan
Meal planning and prepping not only saves an enormous amount of time in the kitchen throughout the week, it helps you avoid those last-minute temptations for eating out. Having quick alternatives on-hand, such as cooked chicken, fresh vegetables and fruits, plus a few go-to recipes for quick meals, can be a lifesaver.
Instead of eating out at an overpriced restaurant, save the funds by eating at home, and maybe go out for a frozen yogurt or ice cream treat instead.
2. Look for Free Activities
Take a few moments each week and look for free activities available in your community or within a short drive. Free concerts, lower-priced movie tickets, festivals, and outdoor concerts are a few examples of low- or no-cost activities. Don’t forget to take advantage of national parks, public beach or lake access, and hiking trails for more inexpensive outdoor fun.
Your public library is another fantastic resource too, with many of them offering a full calendar of activities during the summer. Plus you can check out a few books and audiobooks for your next road trip while you’re there.
3. Cool Your Home More Efficiently
Installing a smart thermostat (before summer ideally) is a useful way of monitoring your energy consumption and controlling usage during the summer. You can program them so the air only comes on while you’re at home and control temperature when it is running.
You can also lower your energy usage by cooking outdoors whenever possible, cleaning the air filters regularly, using ceiling fans, and keeping your blinds closed.
4. Balance Childcare Costs
If you’re a parent of an elementary- or middle- school-aged child, then you know how quickly childcare costs can escalate in the summer. One tactic is signing up for the early bird discounts if possible, for the summer camps. Consider less expensive half-day or part-time options if you can. You can also look for free or discounted programs at local libraries, museums, or community centers.
Another option may be teaming up with other parents and swapping days based on each of your schedules, or having your children stay with a trusted family member for one or two days during the week.
5. Plan Ahead for Vacations
While spontaneity has its place, your budget and savings will thank you if you plan ahead for your summer travel. Easy habits such as downloading an app that shows you the least expensive gas in the area before you fill up, pack your own snacks and meals and use your rewards or points wherever possible. Don’t forget you can enjoy the free or discounted activities mentioned above even while you’re vacationing!
For additional resources for your summer finances, visit Space Age Credit Union.
