Budgeting For Summer Break

July 15, 2022

The final weeks of summer are upon us, and inflation is continuing to heat up everyday expenses, leaving many families looking for ways to stay within budget without missing out on the fun leading up to the school year. To help, the experts at BayFirst have compiled the following list of tips to ensure the rest of summer break doesn’t break the bank.

1. Take advantage of “locals only” pricing. Places like amusement parks, zoos, and other local attractions often offer discounts for residents during the summer, so be sure to take advantage.
2. Pack your snacks ahead of the road trip. It’s no secret that cost of snacks are up, but you can typically expect higher prices at mini-marts and gas stations than at your neighborhood grocery store, so be sure to pack the cooler before hitting the road.
3. Decide to Take Daytrips. Chances are there are plenty of great, drivable places to check out that don’t involve the added costs associated with overnight stays or flights.
4. Find summer freebies. Summer is the time for park events, street festivals, outdoor concerts, and more. Just be sure to bring your own snacks to save even more.
5. Visit the local library. Did you know that your local library offers lots of free entertainment? From free events to DVDs, books and more, the library should be one of your first stops to escape the heat and have some free fun.
6. Bring out the bikes. With gas prices on the rise, now is a good time to forego the car for a family bike ride. Plus, its healthy and better for the environment!
7. Find more ways to save on trips. If you still have an overnight trip to look forward to, seek out hotel with kitchens in the room or ones offering free breakfast. The hotel could cost a bit more but still save you money overall.
8. Use cash for activities. If you’re heading out for some summer fun, try bringing only the cash you want to spend to avoid using credit or debit cards. This will help you prioritize important purchases and call it a day before you overspend.
9. Keep up with savings. No matter what your plans are for the next few weeks, be sure to stay on track with your saving and debt payment plans before taking on added summer spending. Even if you have to reduce these contributions, it’s worth it in the long run and if an emergency were to arise.

Summer vacation is often the costliest time of year. But, if you plan well and keep your spending top of mind, you can maximize the fun and minimize the hit to your wallet. Need more tips? Call (727) 258-2978 or fill out the form below to speak with our financial advisor today to discuss additional ways to improve your financial situation this summer and beyond. Or click here to learn more about all the investment services offered through BayFirst.