Everybody loves summer, right? School’s out. Students are graduating. Friends are getting married. And everybody’s thinking vacation! The trouble is, the costs for all the summer fun can add up and sabotage your savings goals in the process. The good news is that with a little planning, you and your family can enjoy all summer has to offer, without stressing your budget.
Consider these summer money tips:
1. Visit During the Off-Season
If you can’t afford Thanksgiving in Arizona or Christmas in the tropics, summer’s your time to visit. Destinations like these, that draw big crowds in winter, tend to slow down in the hotter summer months. If you can take the heat, you can get some great deals during the off-season.
2. Try Camping
If you try to stock up on all of the newest gear, even camping can be expensive, but many outdoor retailers rent all the basic equipment you’ll need for a campground getaway. Some retailers even offer free workshops to show you the ropes of pitching a tent and using a cook stove. Take up fishing and save even more on meals while you enjoy the great outdoors.
3. Skip Giving Cash as a Gift
While it’s true that cash is a one-size-fits-all gift for new grads, it’s not very personal. And if you have lots of students to remember, you could easily drain your checking account. Instead, consider giving each graduate a book that’s been influential in your life. One that teaches the basics of budgeting, saving and investing would be a great way to get the new grad off on the right foot financially.
4. Make it a Potluck
Backyard barbeques are a summer staple, but when you’re buying everybody’s burgers, sides, drinks and desserts, the tab can run a little high. Next time you play host, ask each of your guests to bring something. Most people love to pitch in for a party, and even non-cooks can help by bringing things like soft drinks, ice, and disposable dinnerware.
5. Give a Family Heirloom
If you’re attending the wedding of a family member, think about putting together a cookbook of family recipes. Or perhaps it’s time to pass on a family heirloom, such as a piece of jewelry or something else that you know would be significant to the new couple.
6. Be First on the Registry
If you’re not related to the happy couple, their online registry will let you know what gifts they’d really like to receive. But don’t wait until the last minute to shop. The day before the wedding, often the only “unclaimed” items on a registry are likely to be more expensive and potentially out of budget.
As your credit union, we can to take the time to make sure that you are getting the most from your membership. Stop by a branch, or contact us to make an appointment to meet with us to identify ways that you can save during the summer and all year long.
Content in this article was provided by BALANCE