Three Ways to Save Money this Summer
Did you know that studies show that summer is when people spend the most money? It’s an expensive season, and it can be a budget-killer as you are trying to save for college and pay for other graduation expenses. Here are our best tips for saving money as you head into these summer months:
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-Plan ahead and budget for gifts: Gifts and parties are something that can be a sneaky expense. They can really creep on you, and when you run into the store at the last minute, you can end up overspending on something you don’t really want to buy. Graduation parties and senior nights are quite frequent during senior year, so plan ahead. Watch for specials on gift cards, such as promos where you can buy one, get one free. Keep your eye out at store clearance sales, where you can buy generic gifts like flip flops, beach towels, or water bottles, and assemble them into cute gift baskets or totes. You can keep these kinds of items in a cupboard or tote so they’re easily accessible when you need to go to a party or a birthday. Of course, that doesn’t mean they aren’t thoughtful, just that you are being intentional about planning ahead. Add a handwritten, thoughtful note to whatever you bring.
-Eat at home and meal prep: One of the biggest areas that people overspend is by eating out. This includes getting things like Boba tea or iced coffee while you’re out running errands. Preparing things you can eat or drink before you leave the house is a great way to be more intentional. Keep a small cooler in your car filled with sparkling waters and bottled iced coffees, and add some straws to make it simple. Or, make your own coffee at home and put it in a tumbler you can take with you. For meals, consider making extra portions at dinnertime, and putting them in glass containers in the fridge. Having items ready to eat or drink can help curb the temptation to eat out when you don’t need to.
-Remember that if you get off track, don’t derail your whole budget. Unexpected expenses happen. It’s part of life, and although these sorts of expenses happen, they don’t need to get you completely off track. It’s good to keep a small margin in your budget for things like car expenses, surprise gifts, or other things you didn’t anticipate. Sometimes, when you get off track, it’s easy to imagine that the whole month or pay period is a waste, but just reassess your budget and arrange the categories if you need to. You can make progress and stick to it, even if it’s not perfect, because progress is more important than perfection!
