Beach weekends, outdoor concerts, impulse buying, and adventures will empty your pocket by the end of summer. Summer activities are great while they last, but when the season is gone, you’re off track of your financial goals.
If you feel the loss, all isn’t lost because there are different things you can do to mitigate the damage. Keep reading for practical tips you can implement to get back on track after summer.
Prioritize Your Spending
When you’re chasing financial goals, whether it’s saving for trips, paying off debts, buying a home, or improving your credit score, you must give up most things. You’ve already lost, so you’re in recovery mode. Only spend money on what’s essential.
Prepare a Budget
Money was probably flying out of your door during summer because you hadn’t created a budget. No more excuses! Prepare a budget to get back on track on spending. This way, you’ll save enough for having fun and meeting your goals.
Cancel Some of Your Travel Plans
You’ve already taken enough trips, so it’s time to focus on saving money by staying local. Enjoy local foods, adventures, and hotels. Further spending might cause a heart attack, especially if you spent a fortune during summer.
Adjust your travel plans if you can’t cancel all trips. Visit a neat place where you can spend a night a friend’s home, instead of a hotel. Find cheap Airbnb, and prepare your meals when you go for an adventure.
Look for a Side Hustle
A side hustle allows you to get more money, even when you’ve blown a reasonable amount. Spending will also reduce because you won’t have extra free time. Search online for gigs that pay, and earn something as you counteract summer damage.
Enjoy your summer, but remember that other seasons are waiting for you. The best thing to do is to plan how you can recover your money in advance. If you follow these easy tips, there’s no doubt that your bank account will be pleasing to look at throughout the year.
As a Branch Manager, Kay helps personal and business clients by providing products and services designed to meet their individual needs. A dedicated volunteer with the City and County, she has over 33 years in banking and a vast knowledge of financial services. Kay is able to provide financial counseling through consultative conversations as a part of her role. Whether your needs are deposit or loan related, contact Kay and see how she can help with your individual financial security!
Asst Vice President & Branch Manager • 770-515-7073 • [email protected]