Summer is one of America’s favorite seasons for spending. It’s a time to take vacations, tackle big home improvement projects and spend money on events like weddings, concerts, parties and family reunions.
When you are trying to maximize your summer fun, it can be tempting to overspend on everything from travel to the latest gear for your favorite activities. We’ve gathered our top tips to help you navigate the season responsibly without sacrificing your summer fun.
7 Tips to Keep Your Summertime Spending Under Control
Make a Summer Budget
In addition to your regular expenses, it’s always a good idea to make a budget that includes seasonal expenses. If you already have a budget for your personal finances, you can add line items for summer spending. Try to be as specific as possible with your financial planning. It’s always better to overestimate your summertime spending and end up with money left over.
Just thinking about your budget won’t do—you’ve got to put it on paper! Check out this budget planning spreadsheet that you can customize to track your summer spending.
Our copy is locked for editing, but you can make a copy and save your own version for editing by clicking on the file tab and selecting make a copy. To add your summer expenses, update the fields in the non-consistent expenses column.
Use Your Tax Refund To Finance Your Vacation
Did you get a sizable tax refund this year? Use it to pay for this year’s vacation without compromising your budget!
You Can Also Invest or Save Your Refund to Plan For Future Vacations
OK, so this tip may be less fun, but could pay off in the long run. If your refund isn’t enough to plan the vacation your are dreaming about, put it in a high-yield savings account or invest it to grow the money over time. You’ll be glad you did when future you gets to take the vacation you really want without relying on credit cards.
Stash allows you to begin investing with as little as $5 and acts as your personal investment advisor. The app has many features that will show you how your money can grow over time. There are hundreds of stocks and trade options available for no additional fees.
The app will automatically invest your funds into a diverse portfolio and allows you to buy fractional shares, which is useful if you are starting out with a small amount of money. You can also link your Stash savings to a bank account and withdraw your funds in two business days when you want to access your cash.
Make a Family Savings Goal for 2024
Get the whole family involved by making a family savings goal for 2024. You can either work together and save for the same thing, like a family vacation, or each family member can decide on something they would like to save for.
Set weekly goals and make it fun by turning it into a competition. For example, parents can have their school-aged kids compete by earning money for chores. Whoever earns the most money for the savings fund each week gets a special prize!
Purchase Upcycled Seasonal Items, Patio Furniture, Fitness Equipment and Playsets
Seasonal items, such as patio furniture, outdoor equipment and summer sports gear, typically go on sale later in the summer. However, if you don’t want to wait, try looking for gently used furniture on resale sites like Craigslist, Mercari, Offerup and Letgo.
Things to look for on resale sites:
- Kiddie Pools
- Pool Equipment
- Bikes and Scooters
- Patio Furniture
- Playsets
- Jet Skis
- Canoes and Kayaks
- Camping Equipment
- Stationary Bikes and Weight Sets
Check out a list of the best camp chairs for summer 2024.
Not everyone has a big backyard to lounge in, but you probably have a local park with plenty of green space. Find some used camping chairs and take them to your local park where you can sit and enjoy the warm weather with a good book.
Buy Used Items Safely
Be careful when using Facebook marketplace to buy used items. There are scams out there. This Facebook Marketplace scam guide can help you know what to look out for.
Save on Yard Maintenance and Home Improvements
If you plan to save money by spending your summer downtime you may be inspired to tackle some yard maintenance or home improvement projects you’ve been putting off. Hiring a landscaper or contractor is expensive, so keep it budget friendly by focusing on projects that you can safely do yourself.
Easy Projects for Beginners
- Mowing and Maintaining Your Lawn
- Planting Flowers or a Vegetable Garden
- Installing a Bird Bath or Simple Garden Fountain
- Repainting Your Interior Walls
- Installing Wallpaper or Blinds
- Power Washing an Old Deck or Patio
- Recaulking Your Bathroom or Kitchen
Moderately Difficult Projects That Require Special Tools
- Installing a New Sink
- Replacing or Installing New Molding and Trim
- Redoing Landscaping Around Your House
- Build a New Retaining Wall for Your Garden
- Adding a Kitchen Backsplash
Difficult Projects You Should Leave to the Pros (Unless You Are One!)
- Electrical Work
- Plumbing
- Replacing Major Components of Your Kitchen or Bathroom
- Installing Hardwood or Tile Flooring
- Building a New Deck
- Installing a Pool
- Tearing Down Walls
- Roofing and Siding
- Concrete and Paving
Planting a garden is a great project that can bring the whole family together and add beauty and function to your backyard or porch. The same goes for doing your own landscaping and lawn care maintenance; DIYing your own gardening will help you save money, plus it’s a great way to stay active outdoors.
Recreate Your Favorite Summer Activities at Home
Love going to the local pool to cool off? Set up a kiddie pool in your backyard and save on the cost of summer pool pass.
Bummed you can’t afford go to a concert or summer music festival? Check out virtual streaming options. Get dressed up and enjoy a music night at home where you can sing along without anyone shushing you!
Think about what it is you love most about your favorite summer pastimes and try to recreate the spirit of those activities in a budget friendly way at home.
Check out a list of the 6 Best Outdoor Movie Projectors.
Going to the movies to watch summer blockbusters is a highlight of the summer for many people. You can create your own outdoor or indoor big screen movie watching experience with a projector, laptop computer and some speakers.
You can project a movie onto a large wall in your backyard or living room, or set up a white screen or curtain. There are projectors for every budget. In some cases, for the cost of taking a family of four to the movies once or twice, you can enjoy movies all summer long.
Look for Local Takeout Specials at Your Favorite Restaurants
Takeout apps are convenient, but they can take a pretty big cut out of the restaurant’s profits and still charge large delivery fees. Most mom and Pop restaurants still allow order the old fashioned way—picking up the phone and placing an order directly.
Extra Savings When You Order Direct
Some restaurants may even have special offers for customers who order directly from the restaurant or through the restaurant’s own online ordering system.
Bonus Tip
Take your takeout orders to a local park and make it a picnic!
Vacation Close to Home and Avoid Flying
Flights prices spiked in 2023 due to inflation and even though they’ve come down a bit since, they are still expensive. This doesn’t mean you can’t get out of the house for a change of scenery. Look for destinations you can reach by car to avoid flying.
Camping is a great way to vacation and save money. Campgrounds are usually much less expensive than hotels, and you can pack most of your food items to cook on a camp stove or over an open fire. We recommend looking for campgrounds you can reach in a day’s drive from where you live.
Make Sure You Have the Right Gear
If you are a first time camper, make sure you have the right gear and don’t forget the essentials. Camping equipment can be quite expensive, so if you don’t already own some, considering borrowing from a friend or renting through a service like Arrive Outdoors.
If you aren’t up for an overnight stay outdoors, consider a day trip to a local state park with hiking trails. Be sure to call ahead and make sure that campgrounds and trails are open before planning your trip and try to avoid major holidays when the parks will be extra busy and camping fees tend to surge.
Have a safe and happy summer!
Updated April 2024