How to Prep Your Wallet for Summer
Spring officially started on Monday (which may not mean a whole lot since our weather has been abnormally warm this year), but that means that my favorite season is just around the corner. Brace yourselves, summer is coming! Whether you have your bikini body and trip savings ready or not, days of backyard barbecues and trips to the lake are upon us. While I’m mentally stoked for summer, I still have doubts that my bank account is ready for all of the adventures the rest of me wants to have. I have about 10 weeks to get my wallet in shape and this is how I’m going to do it:
- Not going out to eat: This is one of the simplest things that I can do to save money. I’m not going to say that I absolutely WON’T do it, but I think I’m going to only give myself $20 a weekend for non-essential items. This means that I’ll be cooking Saturday morning breakfast instead of picking up my ever-so-coveted chicken biscuit and caramel macchiato. I guess I’ll live.
- Focus on free (or cheap) things for the next month. The weather is getting warm, which means that it’s time for me to (basically) live outside again so this should be easy. Spending a day at Palo Duro Canyon, grilling out with friends instead of going out to eat, or going to the park can all be great ways to enjoy the nice weather without spending a lot of dough.
- Set a recurring savings goal. This is quite possibly one of the easiest ways to save money for anything. If I know that by the end of May I want to save a certain amount, I can figure out how much I need to save each week, each month or each paycheck to reach my goal. For example, if I wanted to save $300 by the end of May, I can save $30 each week. $30 sounds a lot more doable to me and it will help me know how I need to make my budget. This is also great for things that I want to save for that are far away. Let’s say I need $1,000 by November to buy Christmas presents, I can just save $125 a month until then. If I want to go on a big vacation next summer, $30 a week can allow me to save $2,000 by next July. This is the simplest and easiest way to save because I can make saving a fixed expense and treat it like it’s a bill.
- Win my March Madness bracket competition. Just kidding, two-thirds of my Sweet 16 are out already.
- Not spending money on stupid stuff. My email has been filled lately with coupons and deals that seem impossible to pass up. However, for the next few months I’m going to have to pass on all of those deals that may sound amazing, but are really just a bunch of things that I don’t need. All of these great offers and promotions are by design, so that you feel like you’ll be missing out if you don’t partake in the savings. While I’m always up for a great deal, it’s really not that great when it’s stuff that I don’t need and/or wouldn’t have been buying in the first place.
So if you’re in the market for beefing up your savings account and figuring how you can make your summer dreams come true, this is a start. While it may not be super “fun” for the next couple of months, it will be well worth it when I’m sitting on a beach soaking up the sunshine. As for that bikini body, I can’t help you with that. Until next time…