It is that weird time of the year again, not exactly a holiday season and yet, our bank accounts take the same hits they do during the holidays. So here are five tips to saving money while enjoying summer break.
1. Make a budget.
If you have a summer job, estimate how much you get paid monthly, then subtract the monthly expenses and make a budget from the remaining amount. I personally love to use spreadsheets because they create a better visual for me. I would suggest making two columns, one labeled 'Expense' and the other 'Amount'. Then label each row with the expense and how much you need for it with the final row having the budget.
Pro tip: before creating your budget on expenses write down a number on a separate piece of paper of what you would like your total to look like. If the number is too high, try condensing some personal expenses. Once you have finished your spreadsheet, print it out and put it somewhere you will be able to see everyday to remind yourself.
2. Save your coins and plastic bottles/cans.
I know what you are thinking...coins are useless, I need more money than that, but you would be surprised. Grab an empty piggy bank or cut a whole into the top of a plastic tub. Every time you come home grab all of your coins and put them in instead of using them.
As for the plastic bottles, have a designated area in your house for them. Then by the end of the summer, go to a Coin Star and a bottle deposit near you. This tip depends more on how often you use cash and drink from bottles/cans.
3. Create a shopping list and STICK to it!
There is nothing worse than finally handling your budget and then going into a store and finding yourself in the clearance aisle going over your budget. So to avoid this ordeal, make yourself a shopping list and stick to it. As for online shopping, another tip would be to not save debit/credit card information to your browser, instead put yourself through the hassle of having to input it every single time.
This tip will help you realize that sometimes by the time you grab the card, it wont be worth it.
4. Pay in cash.
Sticking to budgets and lists isn't always an easy thing to do, especially with how easy it is to pay, simply insert your card and you are all set. So if you find yourself in these types of situations, I suggest to stop by the ATM before and taking out a certain amount of cash then when you get to the store, leave your credit/debit cards in a secure location in your vehicle or at home.
5. Cancel or limit your monthly memberships and subscriptions.
I understand the importance of 'Netflix and Chill' but maybe this summer you can vacation and chill. Write down all of your monthly memberships and their costs, then add up the costs. If it is more than $20/monthly, it is time to cut off some things.
As a bigger motivator, add up all of the money you would save monthly and plan something to do with that extra money. It could be something as delightful as saving $50 and deciding you want to treat yourself to a relaxing day at a water park with your favorite takeout food or something as simple as buying a book that's been on your bucket list.
So yes, the summer time is a horrible time for self control since there is so much to do, but hopefully with these five tips, you will feel a little more under control. Enjoy this summer and stay safe.
