6 Simple Strategies to Help You Enjoy a Debt-Free Summer
Ah, the joys of summer.
Whether lounging by the pool, cooling off in the lake, hosting delicious barbecues, soaking in the sun, or spending leisurely time with family and friends, something about summer invites us to slow down and embrace a more carefree lifestyle. At the same time, it’s important to be cautious and aware of the financial pitfalls that summer can bring.
At Bridger, we want to help you reduce financial stress and enjoy the lazy, hazy days of summer to the fullest. Here are some helpful tips to keep your spending on track so you can savor all the joys of the season:
Pre-plan your summer adventures. The key to a great vacation is knowing your expenses are covered, so your fun isn’t hindered by costs you didn’t see coming.
- Determine total costs for any travel up front, including lodging, food, and activities
- Don’t forget to build in a buffer for incidentals and emergencies
- Use handy travel budget apps to track expenses along the way and help keep you from overspending
Curb impulse purchases. Unfortunately, summer often holds special sales events, turning stores and online shopping sites into potential debt traps.
- Plan ahead and create a shopping list before hitting the stores to shop for summer items
- Try waiting 24-48 hours before buying non-essentials to avoid impulse buys you may regret later
- Unsubscribe from the onslaught of promotional emails that can often trigger spending
Limit dining out. With temperatures on the rise, staying out of the kitchen can be tempting. But with a balanced dining-out approach, you’ll feel better about picking up the restaurant check.
- Change it up at home by experimenting with new recipes, creating theme nights featuring international dishes, or asking a family member to be a “guest chef”
- Nothing says road trip like paying exorbitant prices at a rest stop. Take a few minutes to pack your own snacks and meals for car trips
- Take advantage of restaurant discounts/gift cards wherever possible
Explore free activities. Look into your community's many summer entertainment options and enjoy lots of summer fun…without the funding!
- Explore free community events, parks, museums, and concerts
- Host fuss-free neighborhood potlucks, smores by the fire pit, or game nights with friends
- Swing by the local library for free movie rentals and summer events
Earn extra income
Finding ways to generate additional cash during summer downtimes can give you a head start on saving for the future.
- Take on a part-time seasonal side gig like tutoring or mowing lawns
- Clear out your basement or attic and host a garage sale
- Use cash-back apps and credit card rewards when possible
Designate a “Summer Account”
This is a surprisingly easy and effective way to keep your summer spending on track and manageable.
- Set up a separate checking account for summer-related costs
- Automate transfers to this account from each paycheck
- Only use funds from this account for summer expense
By planning ahead, using tools to track spending, and exploring free or low-cost activities in your community, you can keep your summer stress-free and, more importantly, debt-free.
And remember, the team at Bridger is here to help you stay on top of your financial goals year-round.
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