The ‘arrival’ of summer means that the days are longer and the nights are warmer – so there’s more time to be out and about. For a lot of us, this also means that there’s more time for us to be out spending money.
If you’ve got kids climbing the walls, demanding something to do, you can be even more tempted to splash out on an expensive day at a theme park or a shiny new toy to keep them occupied.
So how can you budget for the summer? Here are a few little tips.
1. How much do you have to spend?
It’s really hard to budget it you don’t know how much you have to spend. You can work this out by looking at your household’s income, including any benefits you get. Then work out how much you need to spend each month – stuff like your mortgage or rent, bills, food, and petrol. After these essential costs, that leftover money is your ‘disposable’ income. But wait! Don’t just ‘dispose’ of it.
2. Decide what you’ll do
You can’t plan out every activity for the summer, of course. In fact, part of the joy of summer is doing things on a whim – getting invited to a barbeque at the last minute, waking up on a gorgeous Saturday and deciding to pack up the car for a road trip…
There are some things you can plan, though. For example, decide how many times you’re going to take the kids to the theme park, water park, etc. If your budget is tight, pledge to only go once for a special treat – or forego it altogether and find something cheaper / free (like going for a swim in the sea, if that’s an option).
If you don’t have enough for a holiday this year, consider loading up the car and going camping. When you get back, you can start planning early for a holiday next year – you might be able to save some money by booking early.
3. Do as many free activities as you can
It doesn’t (usually) cost anything to go outdoors, and kids tend to love it. Walking, cycling, or just chilling out are all great fun on a sunny day. If you take a picnic, you won’t have to splash out for lunch at a café (in fact, this applies to everywhere you go, whether it’s a local park or a theme park). Check out your area’s website for the latest news on what’s going on. Chances are your children and family won’t mind how much you spend on them, as long as you spend your time with them.
4. Put something aside
Whenever you can, put a bit of money into savings. Even the most carefully planned summer budget can hit unexpected hitches, so it helps to have something tucked away for when you need it.
5. Tackle your debt
Budgeting and saving are all very well, but what if you’re struggling to simply keep up with your unsecured debt repayments? If this is the case, you might be anticipating a stressful summer, but there’s no need to tackle debt on your own. There’s loads of information about debt solutions, as well as expert advice at Debt Advice Team. This could help you decide how to tackle your unsecured debts, so you can start enjoying your summer knowing you’re doing something about your money worries.
Readers: What do you plan to do to stretch your dollars this summer? Any brisk trips or inexpensive outings? Or maybe you’ve got some things you plan to do around the house? Please feel free to share!
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3) Adding Your Children’s College Savings to the Budget
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If you live in a bigger city there are so many free activities. A lot of times different museums will even have free days each week or month.
Sean @ One Smart Dollar recently posted..Money Saving Tips for Memorial Day Weekend
One of them near us has free days every other week! It’s a great bargain, but it does get a little crowded!
Since I live by the beach, I’m just taking a staycation. My goals is to just relax and try to be more balanced and have fun. I quit my gym, so I have no choice but to do more outdoor activities.
Budget & the Beach recently posted..Be You
I think I’d do the same if I lived near the beach!
We take advantage of the many free summer activities in the area, such as outdoor concerts by local bands, free family movie showings downtown, and the seemingly endless festivals every weekend. We also go to a lot of local and state parks for biking, hiking, kite flying, and a picnic lunch.
Justin @ The Family Finances recently posted..Financial Progress Takes Time
Making use of the festivals and things happening on the weekend have been very entertaining for us as well!
I agree with Justin – free activities are one of the best ways to stretch your budget. We enjoy going to carnivals, fairs and parks. Anything that gets us outdoors basically.
Ryan recently posted..Ripoff Report #4 – Identity Theft Edition
Hitting the outdoors is the best part about the Summer. There’s always plenty to do!
There’s a lot to be done in the summer! I’d love to go on a lot of trips, but I don’t get the time off – I think experiencing the world is something that can be splurged on.
Daisy @ Add Vodka recently posted..Big Announcement!
If you’re good at planning, taking small trips can be a great time! We’ve started adding more of these mini-vacation weekends to our summer.
We won’t be taking a vacation or anything this summer but we try to find cheap things to do around the city. We’re a little different than most because we enjoy relaxing, cooking, messing with our potted garden, and things of that nature.
I’m thankful we don’t have kids because it would certainly add an entirely different aspect…but for now it’s just the two of us and we find rather inexpensive (or free) things to do on a consistent basis.
Jason @ WorkSaveLive recently posted..Things to Consider With Your Relationship and Money
When it was just my wife and I, a trip to the bookstore to get some coffee and read some free books used to do the trick. Simple, inexpensive.
I don’t find that I really spend all that more during the summer, but then again I don’t have kids. I’ve always just ended up spending more time outdoors doing free things. Going rollerblading or walking in the park is always enjoyable. I should get out camping sometime soon though. It’s been too long since my tent got some use.
Modest Money recently posted..Late May 2012 Blog Update
Yeah, I don’t think this is much of an issue for single guys. But when you add in a family, it becomes very complicated.
I’m stocking up on discounted tickets to local attractions from my student life office and banking on tons of free events…movies in the park, anyone? We’re also pretty into sports so getting outside is no issue. Speaking of camping, we bought a barely used tent this winter from Craigslist for $40….can’t wait to use it!
femmefrugality recently posted..Saving Time and Money as a Mom: A Guest Post
$40! That’s pretty great. Once again, Craigslist pulls through! Good call also on the discounted tickets.
Thanks for the tips, I am fortunate to live in an area with a river near by and the ocean a short 2 hour drive. We also have the mountains 2 hours away as well, so it is never hard to find hiking and swimming options to keep the summer fun and less expensive.