Summer is when things start to warm up, and everyone emerges from hibernation. Summer is also when people take vacations and simply get out and do more! But did you know that 52% of Americans overspend in the summertime, and 28% don’t even bother setting a budget? Americans say they want to “make the most of the summer” and not miss out on anything, which could be the reason for the overspending and lack of budgeting.1 But what if you could still have fun and save money? This is where our Summer Budget comes in! Learn how to still participate in all your favorite summer activities while sticking to your budget.
1. Dream Up Your Perfect Summer
The first part of setting up your Summer Budget is planning. You’ll need to get into the nitty-gritty of everything you want to do this summer, including vacations, dining out, and all extra activities. You need to know exactly where your money is going so you know exactly how much to set aside to have an epic summer!
Of course, you need to be realistic about your financial goals. In the next step, we’ll discuss how to examine your finances to see what’s possible for you.
2. Assess Your Financial Landscape
The next step of budgeting is taking a look at your current finances. You’ll need to review the following:
-How much money you currently have in savings
-Your upcoming/monthly expenses
-How much disposable income you have
Disposable income is the amount of money you have left over after paying for all necessities, such as your monthly bills and groceries. Figuring this out is important because the amount of money you have left over will determine what you can fit into your Summer Budget. Keep in mind that budgets need to be regularly adjusted and monitored for unexpected expenses and possible savings to put back into your Summer Budget! You can also learn more about budgeting and sticking to it in our Budgeting Made Fun article!
3. Save Smart, Start Early
A great way to ensure you have all the money you need for your Summer Budget is to start saving early! Start saving as early as New Year’s Day to make sure you’ll have more than enough money to cover your Summer Budget—and then some! Below are some ways you can easily save up enough cash for some summer fun:
–Automate Your Savings: Have your bank account automatically put a portion of your paycheck into savings. After you assess your finances, you’ll know exactly how much you can contribute each week.
–Put Your Savings Into a Deposit-Only Account: Many banks offer deposit-only accounts, which means you can only take money out of the account if you go into the bank directly. If you find it a nuisance to go into the bank physically, this is a great way to ensure your savings aren’t touched until you’re ready to use them!
–Start a Side Hustle: Got some spare time? Dive into side hustles and watch your extra cash flow in! Whether juggling a full-time job or managing your kids’ hectic schedules, we’ve rounded up the easiest side hustles you can jump into right now to boost your income! Check out these 5 Easy Side Hustles to Start Today!
4. Earn and Save with KashKick
KashKick is one of the most exciting, easy ways to earn extra cash. From popular mobile games to play, apps you can download, and surveys you can take, there is something for everyone on KashKick! Whether you beat a few levels of a game during your work break, test new apps in the grocery store line, or give your opinion on surveys, the earning potential is endless. Don’t miss this golden opportunity to turn your free time into earnings—check out Real Ways to Earn Real Cash with KashKick today!
5. Include a Buffer
You’ve learned that starting to save early is important, but what about saving a little extra for unexpected expenses? It’s crucial to have a financial buffer in case unexpected expenses come up—or if you want to add in an extra weekend trip this summer, you won’t have to say no! Setting up a mini emergency fund is a great way to cover unexpected expenses that could arise. A typical emergency fund saves 3-6 months of expenses, but you could try saving up a minimum of 1-2 months of expenses, so you have a bit of a buffer this summer. This way, if anything unexpected comes up, or if you want to splurge on a summer expense, you’ll have the extra funds!
6. Track Your Spending
Tracking your expenses is a crucial part of having a budget. How will you know if you’re actually sticking to your budget if you don’t look at where your money goes? Budgeting can often feel like making your way through a maze blindfolded, with an occasional banana peel thrown in for good measure. With the proper tools to track your expenses, budgeting is much less stressful and can even be enjoyable! Check out some of our favorite budgeting apps in this article.
7. Enjoy Without Overindulgence
Summer is a time to indulge, but we still want you to have a blast without blowing your budget! By planning ahead and focusing on epic experiences over pricey purchases, you can soak up all the sunshine and good vibes without a financial meltdown. Think beach days, mountain hikes, and park picnics—these simple, affordable adventures are where the real summer magic happens. Remember, the best memories come from unforgettable moments with your favorite people, not from emptying your wallet. So, get out there, make the most of the season, and keep your funds in check for the ultimate summer fun!
Sunny Days, Savvy-Saving Ways!
And there you have it, KashKick fam! Whether you plan on spending your summer poolside or traveling to as many places as possible, we know you’ll be prepared with our summer budgeting tips. As you save for summer fun, remember the importance of saving extra so you’ll be prepared for whatever comes your way. Grab your shades, fire up the grill, and make this the most unforgettable, budget-friendly summer ever!
Resources
1 https://lanehipple.com/seasonal-spending-why-we-overspend-in-the-summer/