Summer is here and for many people it’s a time to enjoy the weather, go on vacation, and spend time with family and friends. But all that summer fun can get expensive. Paying attention to a few small things could help you save a lot of money over the next couple of months. Here are four simple ways to avoid overspending in the summer.
1. Manage Your Power Use
Although warm weather can be fun, it can also lead people to use more electricity and other utilities. An inflated gas and electric bill can take a big bite out of your monthly budget. Pay close attention to your power usage and look for ways to cut back.
Air conditioning uses a ton of energy, so use it carefully. By drawing the shades on sun-facing windows and cutting down on electric light usage, you can keep your home from getting too hot during the day. If you still need to use air conditioning, try turning it off at night when it’s cooler. Avoiding cooking with your oven and stove will also use less energy and keep your home cooler.
2. Watch Your Water Use
Another utility that can become a big expense in the summer is water. Whether it’s filling a pool, watering your lawn, or taking a cold shower, the extra water you use adds up and can increase your water bill. While you should always drink plenty of water and try to stay cool, there are also smart ways to reduce your bill.
For example, it’s more efficient to water your lawn in the morning when it’s cooler. Take advantage of public pools and beaches to keep you and your family cool. And it’s always a good idea to take short showers. Setting a five-minute timer is a simple way to keep yourself from wasting too much water.
3. Bike or Walk to Work
If it’s not too hot, summer is a great time to rely less on cars and buses. By walking or biking to work and other places, you’ll not only save on gas or bus fare but also get some exercise. You might even find that your walk or bike ride becomes your favorite part of the day. The next time you’re heading for your car, take a moment to ask yourself if your destination is close enough to walk, bike, or use another form of unpaid transportation.
4. Take Advantage of Local Events
Although summer is a time for fun and vacation, it’s easy to overspend on outings and trips. And if you have kids, keeping them occupied can feel like a full-time job. Fortunately, the summer often brings with it a lot of inexpensive local events. For example, many cities set up projection screens and show movies in the park for free. This is much more budget-friendly than taking a whole family to the movie theater, and it means the kids can run around and play. Farmer’s markets, festivals, and free concerts are other great events to help you have a fun summer without breaking the bank.
Whether you’re trying to start some good money-saving habits or just want to avoid the extra expenses of summer, you can use these tips to enjoy the season without blowing your budget. This can help you reach financial goals, like getting out of debt.
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*Although we hope these tips are helpful to you, Midland Credit Management does not offer financial advice. If you have questions or concerns about your personal finances, please speak to a financial advisor.