top of page
  • Prinden

High temperatures, high spending: How to manage summer finances


Summer is a time when we’re tempted by a lots of activities, celebrations, vacations, and the irresistible summer sales. But let’s face it, all these exciting experiences can put a strain on our wallets if we’re not careful. How can we enjoy the best of summer without breaking the bank? Here are few strategies to help you navigate the rising tide of summer spending.

Take Inventory of Your Finances

It’s essential to know where you stand financially. Start by calculating your living expenses, debt payments, and savings or investments. Subtract this from your income to determine how much discretionary income you have for summer spending. Review your spending patterns by examining credit card statements, bills, and receipts. This will help you identify areas where you can redirect your money for more effective use.

Embrace Small Lifestyle Changes Look for opportunities to make small adjustments in your daily routines and spending habits. Consider borrowing books from your local library instead of buying them or canceling your gym membership and opting for outdoor workouts. Cooking more meals at home instead of grabbing takeout can also make a significant difference. These small changes will give you more financial flexibility to enjoy summer adventures.

Check in on your Savings and Debt Payments

It’s important to have a safety net and keep your debt under control. Assess your emergency savings and set a baseline amount you don’t want to go below. Aim to have at least three to six months’ worth of expenses saved up. If possible, pay off any small debts to alleviate financial pressure. Utilize debt payoff apps or tools to stay organized and track progress.

Embark on a Spending Cleanse

Challenge yourself to go on a spending cleanse for a week or two. During this time, limit your spending to necessities only. This exercise will help you develop healthier money habits and make you aware of any unnecessary purchases you’ve been making. It’s a great way to jumpstart your budgeting skills and save some extra cash before the summer festivities kick in.

Create a Summer Activity Vision Board

Manifest the summer of your dreams without sacrificing your finances by creating a vision board filled with fun and inexpensive activities. Research upcoming local events, art festivals, street strolls, or carnivals. Many of these events are either free or have minimal costs. Don’t forget the joy of staying home relaxing in your own space can be just as delightful. Invite friends over for a cozy evening with good food and drinks, or plan a romantic sunset picnic. Embrace the laid-back vibe of the season and let your imagination run wild. Having a vision board as your guide will prevent overspending while ensuring you have a summer to remember.

bottom of page