Summer is the time of year when most people spend more. With the warm weather and kids being out of school, we have more time to do stuff and vacation becomes a top priority. Save money this summer by doing these four things.
1) Save money on eating out
We realized we were spending too much on eating out in the month of May. It’s not good for our wallet or our bellies.
The average cost of dinner per individual at a restaurant is around $10–$12. If you go out every day, you’ll spend more than $50 each week. That’s over $200 a month!
Cook dinner at home instead of going to a restaurant every day. Challenge yourself to stick to this all summer, and see how much money you save. Whatever you save from not eating out, throw it into your savings. Who knows? You might even save so much that you’ll stick with it.
Save money on your grocery bill by comparing prices in your area or online to shave down your grocery bill.
2) Turn your air conditioner off when you’re not home
My wife is home all the time and so this is hard for us to do. But just like turning off the lights make sure you turn your air conditioner off or up.
This summer is going to be hot and your electricity bill is guaranteed to rise with the temperature.
According to the U.S. Department of Energy, “You can save as much as 10% a year on heating and cooling by simply turning your thermostat back 7°-10°F for 8 hours a day from its normal setting.”
You can get a programmable thermostat saving you time and money by programming in times when you know you will be away, like during the workday. For the random times when you’re gone, make this an add-on step to turning off the lights. It may seem inconvenient at first but soon will become as natural as flipping that switch.
3) Sign up for price alerts on your travel destinations
Have your next trip destination in mind? Sites like Google Flights let you sign up for price alerts so that you’ll get a notification when ticket costs drop. Just narrow down where you want to go and when, and you’ll receive an email if prices go down.
If you’re not willing to wait, download an app called Hopper that predicts with 95% accuracy the best time of the year for you to book your travel.
Another great way to save money on travel is with an app called Earny. I’ve been using it for about a year to get refunded when the price of something I purchased drops. But they just recently added this feature for hotels. If you book a hotel and the price of the hotel goes down afterward, Earny will get to work for you and get you a refund.
4) Have a garage sale
Last year we were moving and so we decided to have a garage sale. We ended up making almost $700 in one day!
You can tidy up and you’ll end up with less junk around the house. Even better, if the garage sale goes well, you’ll have extra money in your pockets!
Summer is a time when you could be tempted to overspend.
There will be a time in the future when you can splurge on whatever you want. You’ll get there. But this summer, your goal is to stay on track!
Your money journey isn’t just a summer-long adventure. It’s a lifelong adventure. That’s why I created an email course to help you become financially fit this summer. Sign up for the Free 7-Day Transform Your Finances Email Course!