Making the Most of Summer: How to Keep Your Finances in Check

I love summer. Maybe it’s because I’m from the South, and summer is just when all the activities happen. There’s always a BBQ, camping trip, or lake outing. Of course, it’s also usually a bazillion degrees out with humidity at 110%, but still, summer is amazing. But summer comes at a cost that can end up wrecking our finances. So, how do we keep finances in check during the summer months?

Summer has always been a time when, if I’m not diligent, that’ll wreck our budget. (Did you know that, on average, Americans spend $300 more during the summer on social events than at any other time in the year?) Even before we had children, if we didn’t make a plan for our summer, it just sort of either flew by or became super chaotic.

That’s why we need to make sure that we set aside some time this week to work on what we hope this year’s summer will look like.

Think about:

Volunteer efforts
Vacation(s)
Camping Trips
Fun Outings
Staycation Ideas
Home Projects
Summer School (or bridge activities)
Special Occasions (birthdays/anniversaries/etc.)

I’m sure there’s more that can be added to this list, but the idea is to get thinking about how you hope this summer will look. Do you want a Lazy Summer where you don’t have much on the calendar outside the house? Do you want an Adventure Summer filled with doing new things and experiencing new things? Do you want a Productive Summer where you get done everything you’ve been neglecting to do?

There’s no right or wrong answer. It’s about getting intentional with the summer we hope to have this year so that it doesn’t wreck our budgets and derail our progress.

So here’s what we’re going to do to prepare for Summer Financially:

Review Our Expenses

If you haven’t reviewed your expenses in a while, then today is the day! Remember that stat that I shared above about most Americans spending $300 more during the summer? Well, where is that money going to come from? Where is the money coming from to pay for vacations? That’s why we need to review our expenses to ensure we’re only paying for things we truly value. What can you get rid even if it’s just temporary for the summer months? I know that my family watches way less TV in the summer, and maybe that’s true for your family as well. And if so, maybe you can cancel or suspend some of the streaming services you subscribe to for just the summer?

Go through your expenses and determine where you can cut and reduce them to free up more money in your budget for summertime fun.

Will Your Income Change?

After my parents got divorced, my mom was a lunch lady. That meant that she was home every summer with us growing up. However, she only got partial pay during those summer months. That’s why it’s important to take into account if your income changes during the summer when making summer plans.

Summer is also a fantastic time to side hustle! If you’ve got BIG financial goals you want to achieve this year – don’t sleep on them during the summer! Use this time to your advantage and side hustle!

Pet sit
Dog walk
Clean houses (folks love coming home from vacation to a clean house – you could offer “vacation cleaning” services so people can arrive home from vacation to a sparkly fresh home)
Watch other people’s children – If you’re a SAHM you could watch a few other children during the summer months that are similar in age to your own kids.

Summer can be a great time to make progress on your overall financial goals for the year, so don’t forget them!

Don’t forget about Cash Back!

You know I love using cash-back apps! So here are the few that I love and use all year long. These apps help me earn cash back or points that we then get to use to stretch our budget during the year:

Fetch (earn points on receipts from purchases)
Upside (earn cash back on fuel purchases)
Rakuten (earn cash back from online shopping)
Swagbucks (earn points for taking surveys and online shopping)

These are just a few ways to make Summer work for your budget. But don’t forget to check your budget weekly, even during the summer and while on vacation. Set a reminder on your phone so you don’t forget!