Summer. It’s a time for fun, relaxation—and bursting budgets. From higher gas prices and electricity bills to vacations, spending can skyrocket during the summer months. Here are 6 ways to save on common summer expenses:
- Reduce Cooling Costs for Summer Savings. Electricity usage tends to peak in the summer months, mostly because of air conditioning. You might be surprised at how much you can save by cutting down on your energy usage and reducing your energy bill. You could cut cooling expenses as much as 10% just by raising inside temperatures 7 to 10 degrees for 8 hours a day. Consider installing a programmable thermostat to help with utility bills and replace dirty filters. Put in a ceiling fan to cool hot air as it rises. Setting portable fans throughout your house is a good hack to be energy efficient and reduce air conditioner usage, too.
- Keep Kids Active for Less. Every summer, parents spend an average of $314 per week on summer camp activities to keep their kids busy. Often, those activities are charged to a credit card with high interest rates. Consider a few different free activities and see what’s scheduled at the local library or community center. Plan an indoor campout for the kids to get them excited about the next family camping trip.
- Plan a Thrifty Summer Vacation Trip. Everyone enjoys big summer trips with family members, but they can be pricey. Airfare alone costs $343 per person on average (as of late 2021)—that’s almost $1,400 for a family of four! Cut spending money by visiting more affordable tourist spots like nearby theme parks. Take a road trip, drive to the local attractions or buy last-minute tickets to off-season vacations like Florida, which tend to cost less during the summer months. Consider visiting family or even a staycation.
- Cook More at Home to Save Money This Summer. When the weather is warmer, everyone enjoys socializing and dining out more. Take advantage of mild summer weather to host cookouts and potluck parties. Potluck style allows friends to contribute to meals. Stock up on all your local favorites from the farmers market or grocery store.
- Skip the Initial Theater Release. While COVID may have put a temporary damper on going to the movies, summer is still blockbuster season. Average ticket prices are $10.53 per person according to the National Association of Theatre Owners. Enjoy the big-screen experience for less by seeking free movies in the park. Or, you could stream movies in your own backyard. All you’d need is a screen, projector and video source. Grab your blanket, lawn chairs and snacks—and you’re all set!
- Cut Back on Driving. Fuel prices inevitably increase in summer, so even if you’re driving the same distance, it will cost more. This summer, consider carpooling or using public transit to save a lot of money. Check out bike-share and scooter rental options when traveling within or near a city. You might even be able to pick up a bike or two from a local yard sale.
This content is intended to provide general information and shouldn't be considered legal, tax or financial advice. It's always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.