Summer is a season filled with tons of fun. My family spends our summer days lounging away by the pool, going on hikes and camping trips, and splurging on an occasional day at the movie theater. And while we seriously love the magic of summer, I can’t be the only one who notices that this season can drain your wallet, and fast. Use these tips for summer budgets that will help you stay afloat (financially speaking) during all of the chaos and fun of the summertime.
1. Review Your Summer Budgets With Your SO.
First things first, before you can really start beginning to think about your summer budgets, you need to figure out what you have to work with. Sit down with a husband, wife, or an SO, and go over your budget. There will likely be a few extra costs this summer season, so what changes can you make to your budget to accommodate for those? Remember to be completely open and honest when discussing summer budgets, you may find yourself hurting for the remainder of the year if you spend too much! Also, utility bills tend to become more expensive in the summer months, be sure to factor this into your budget and plan accordingly.
2. Make Sure To Save Up For Vacation
If your family is planning a getaway at any point during the Summer, it’s best to start saving up for it now. Look at your paychecks and decide a reasonable (and affordable) amount of money to stash away for your trip. You’ll be less stressed out come that August beach trip and you’ll have more money to do fun things with your kids. Plus, doesn’t it seem like vacations always cost more than you expect? Best prepare for it soon! If you find yourself pinched for funds to save, talk with your SO about possibly moving your vacation later in the year, when rates are cheaper.
3. Speaking Of Vacationing…
Now that we are talking about vacation, a great way to save money and maximize your summer budget is to actively look for ways to save money on vacation. One of my favorite ways to do so is by reducing the number of times we eat out. Feeding a family of five at a restaurant is super pricey, so we always head to the grocery store when we first arrive. We’ve cooked many many meals in the kitchenette of our hotel room!
4. Set Aside Money For Natural Disasters (If Applicable in Your Area)
It seems like every August the world starts ending. There are wildfires savaging the west coast, and the threat of hurricane season is looming in the Gulf and on the east cost. If you live in an area commonly affected by natural disasters, set aside some money in your summer budget to prepare for damages. You’ll love having an emergency fund, especially if your house happens to flood during a crazy storm.
5. Start Shopping For School Supplies in June or July
Though your kids will probably mumble and groan about having to shop for supplies so early, there’s a chance you can save tons of money if you do. Set aside money for supplies and new clothes and shoes, right at the beginning of the Summer. That way, you can pick up what they need if you see it go on sale while shopping throughout the summer. Just be sure to stash it in your closet so they don’t ruin their new school clothes!