As we enter August, there is still time for summer savings. Use a few planning tips to help you save during the late summer and on into the fall. Think about acting now to put away a little more for expenses later this year and for taxes next year. Here’s a short list of things you can do to prepare.
Summer can be a time to splurge. Don’t get carried away. Make a budget and stick to it. Many people overspend buying little delights when they are out and about. Treating yourself and your family occasionally is fine but families can get lazy about keeping track of spending as they relax in the summer sun.
Prepare summer snacks at home instead of taking the gang out for ice cream and beverages after their games or other activities. Serving up a treat at home can save significantly when celebrating the team’s win or after a day at the park.
Save on your summer outings by planning ahead. You might make reservations early for hotels or use coupons for restaurants or activities instead of just winging it. Planning can also help you find less expensive activities when you travel.
Take advantage of deals. This is an extension of planning. How much could you save with two-for-one coupons at miniature golf or reduced entry to a movie? Shopping early for the next school year or being prepared for those back-to-school sales on clothing and supplies can also put cash back in your pocket.
Do you really need to keep that gym membership in the summer when you and your family are already exercising outside? That can be another small savings that can add up over the summer months. What indoor expenses can you do without like movie and game subscriptions?
Take the family to free festivals and parades. Yes, you might spend a bit on food and drinks but that could be a fraction of what you would have spent for a paid outing.
Have a garage sale. Prepare those things you no longer want or need and have a weekend sale. You might also go to garage sales to get items instead of buying new ones.
These are just a few ideas to help you with summer savings. You might want to get in touch with your financial planner to help with other significant planning.
Contact Les Merritt CPA and Certified Financial Planner to do your long range planning. You can reach Les Merritt at (919) 269-8553 to set an appointment to take care of your future. Summer is a good time to save a few dollars and take the time to review your financial plans for the rest of the year.