3 Ways to Make Your Summer Financially Meaningful

#1 Make a budget!


Summer is a time when you can spend, spend, spend and things begin to add up. So, making a budget can help you avoid an unwanted deficit at the end of the month. First make a spread sheet (excel, numbers, or just by hand), then input your monthly income. Next, input your usual expenses (rent, food, utilities, etc.) and tally them up. Subtract your essential expenses from your income and you should have about 50% of your income left over. I suggest allocating a specific percentage of your monthly income to savings. This percentage can vary month to month from 10%-20%, but it is extremely important to save for a rainy day because you never know what is around the corner. The remaining income can be inputted for your leisure expenses (concerts, eating out, travel, etc.) which increase during the summer months.

#2 Get a summer job!

Especially for students and those without a full-time career, summer is the perfect time to get a job because there are many seasonal positions that open up along the coast and even inland. If your job is only a Monday-Friday, 9-5 gig, summer can offer you the opportunity to make some extra cash on the weekends, when places are busiest. This extra income can help support those leisure expenses mentioned earlier and add to your savings. Check out places like Craigslist for job listings in your area or don’t be afraid to simply just write the employer a formal letter, attach your resume, and mail or email it to them. You’ll be surprised what some initiative can get you!

#3 Save when you can!


Summer can be a tempting time to overindulge and find yourself in trouble when September rolls around. So, instead of always getting dessert out, try making something sweet and cool, like my Summertime Granitas! Same goes for eating out, warm weather means that you can eat outside, so take advantage of that! Barbecue outside with family and friends or pack a lunch from home to have a picnic! Summertime styles can be enticing, but if you wait, there will often be a sidewalk sale in August or September to get those styles for much less. In addition, big box stores will often have sales before the fall styles debut so you can pick up designer goods for far less.


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