Budgeting for Summer Fun!

Summer is almost here! School is winding down for kids, and vacation is looming on the horizon. And with summer comes summer expenses. Vacation, activities, the higher electric bill from running the AC… It can be a lot! That’s why budgeting is so important. When you make a budget for summer, you can have more control over your finances without sacrificing fun! Here are our top budgeting tips for summer and beyond.

Set a Summer Savings Goal

At Casey State Bank, we’re all about saving– and we know that having a specific financial goal is a great way to keep track of your finances. Having a target for saving motivates you. It gives you a way to track your progress and gives you something to aim for. If you have a savings target, you’ll find it much easier to avoid overspending or impulsive spending that chips away at your goal. So set a savings goal for the upcoming month and see what happens!

Plan Your Major Expenses

There are a lot of activities that happen in summer! Some people take the time to work on their home improvement projects and repairs. Lots of us go on vacation– and that means airfare expense or gas, lodging, and the cost of activities. The kids’ seasonal sports and camps can add up, too. 

The good news is that you can see these things coming, so you can prepare for them. Getting vacations booked early is a great way to save, especially on airfare. 

Daily Savings Strategies 

There are also places you can save money as you spend in summer! One of the best ways to save on your grocery budget is to plant a garden. Not only will you save money on grocery prices, you will be cutting down on emissions. And frankly, homegrown produce tastes better. 

Another place you can often save in summer is by finding free activities. Libraries run a ton of summer programming. If you follow local attractions on social media, you’ll often run into discounts and free days. Places like smaller, regional theme parks and water parks run promotions all the time. These can be a great way to inject a lot of fun into summer without dropping the big bucks.

Use Tools and Apps

So much of our banking happens online, so take advantage of apps and tools that can help you track spending and saving! Casey State Bank offers several financial calculators that can help you develop your financial plans. We also have a mobile app that lets you check your funds and build your budget on the go. You’ll be able to see your savings grow and manage your finances from your phone.

Involve the Whole Family

Summer is a great time to help your kids learn financial literacy! Summer seems endless and free to a kid… Even though Mom and Dad know that it definitely isn’t! So why not get the children involved in family finances? Talk to them about budgeting and teach them how to prioritize saving. Have them help plan activities and talk to them about the costs. You can help them find free and low-cost activities. By letting them choose what the family does, they’ll gain a sense of responsibility and realize you don’t have to spend a ton of money to have fun.

Just like with shopping, “local” is the magic word. Let’s say your kids like baseball. Traveling to a big city, buying MLB tickets, and paying stadium prices for concessions might be out of reach…There are 244 minor league teams, many of which are much closer to home and have extremely fun, exciting games. Talk to your kids about what they really want to do and the type of fun they want to have. Work as a family to find activities to meet that desire.

Summer is also a great time to take advantage of public pools, tickets to quirky local museums, local attractions, and of course, state parks. State parks offer so much more than just hiking trails; many of them have water activities, as well as nature centers, areas for sports, and more. 

Review and Adjust

At some point in July, close to mid-summer, review the budget. Make sure that you can adjust for any unplanned expenses– and who knows, maybe you’ll even find a place to sock away a little more cash in your savings! Don’t let the financial vigilance end after the summer, too; you might find yourself spending smarter the whole year round.

A summer budget is important. It’s the first step towards planning for fun. You can relax and actually enjoy your summer if you have a budget; you won’t be worried about financial shortfalls because you planned in advance. At Casey State Bank, we offer several personal savings account options. Why not open one today and develop your summer savings?