8 Summer Savings Tips to Keep Your Wallet Happy

Summer is here, which often means vacations, outdoor adventures, and planning activities for your family. However, it can also bring about increased expenses, from vacations to cooling bills. To help you navigate these costs, here are eight summer savings tips to keep your wallet happy while making the most of the sunny days ahead. 

1. Plan Staycations Instead of Vacations

Everyone enjoys a nice summer getaway, but traveling can be expensive. As of late 2023, the average airline ticket costs $384.85 per person. Instead of flying, opt to take a road trip to explore your own city or state. In Virginia, there are hidden gems to uncover, local attractions and museums to visit, and opportunities to hike, picnic, or camp at nearby local, state, or national parks. Staycations are a great way to have fun without traveling far and can be significantly cheaper than traditional vacations. 

2. Enjoy Free or Low-Cost Activities 

Summer is a time for parades, festivals, fairs, and all kinds of outdoor activities- most of them are free. Look out for free events and activities in your community, such as outdoor concerts, movie nights, and farmer’s markets. In addition, local libraries often host free summer reading programs and activities for kids. Locally, Harrisonburg, VA provides a community calendar of events including First Fridays or the Summer Music Series that you and your family can enjoy without spending a dime.  

3. Cook at Home  

Cooking at home is a fantastic way to save money and eat healthier this summer. Packing lunch for work can also cut down on daily expenses significantly. If you’re hosting friends or family, consider organizing a potluck where everyone contributes a dish, making it a fun and budget-friendly way to entertain. Planning meals, using seasonal produce, and embracing cooking can further enhance your savings while ensuring you enjoy delicious and fresh meals all summer long.  

4. Shop Grocery Store Sales and Use Coupons 

In addition to cooking meals at home, couponing and shopping grocery store sales can help maximize your summer savings.  Before you head to the store, check grocery store ads and plan your meals around these sales to get the best deals. Additionally, use coupons from newspapers, store apps, and online platforms to further reduce costs. Combining sales with coupons can lead to substantial savings, allowing you to stock up on seasonal produce and pantry staples without breaking the bank. Don’t forget to join store loyalty programs for exclusive discounts and rewards. 

5. Cut Back on the Air Conditioning

Summer weather can be unbearably hot at times, even in Virginia, which means the air conditioner is going to drive up your energy bills. To save on utility bills, set your thermostat a few degrees higher, use fans to circulate air, and close blinds during the hottest part of the day. Locally, you can also visit public places like the Massanutten Regional Library or local pools with low admissions fees to stay cool without cranking up your air conditioning. 

6. Sell Unused Items

Declutter your home and make extra cash by holding a garage sale or selling items on online marketplaces and platforms. Selling unused items not only brings in some money but also helps you create a more organized and clutter-free living space. 

7. Take Advantage of Memberships and Subscriptions

If you already have memberships to places like zoos, museums, or amusement parks, make the most of them. These memberships often offer unlimited visits and sometimes offer additional perks like discounts on food and merchandise. Additionally, consider pausing any subscription services you’re not actively using, such as streaming platforms or gym memberships, to maximize your savings during the summer months. 

8. Get on a Budget

Creating and sticking to a budget is a crucial step in saving money, especially during the summer when expenses can rise. Track your income and expenses to understand where your money is going and utilize budgeting apps to help manage your finances and stick to your budget. Categorize your spending and establish realistic limits for categories such as groceries, entertainment, and travel to pinpoint areas where you can cut costs. By having a clear budget, you can make informed decisions, avoid overspending, and ensure you have funds available for summer activities and future savings goals. 

For members of Park View FCU, taking advantage of online banking can enhance your budgeting efforts by allowing you to connect your favorite budgeting apps to easily track transactions and deposits.  

Bonus Tip: Set Aside Money to Save 

If you want to add to your summer savings, then you want to start by making sure you have the right bank account.  You probably have a checking or savings account, but does it yield interest? An interest-bearing checking account is an easy way to build your savings. At Park View, our Electrum High-Yield Checking Account would be a great place to start. Park View also offers money market accounts which give you a safe place to stash your cash and the dividends earned will get you to your savings goals faster. In addition, consider setting up automatic transfers from your checking to your savings account, so you don’t accidentally spend what you plan to save. 

Saving money during the summer doesn’t mean sacrificing fun and relaxation. With a little effort, creativity, and planning you can have a memorable summer while keeping your wallet happy.