Let’s face it–while summer is pretty much everyone’s favorite season, it’s also notorious for being one of the most expensive times of year. Between vacations, cookouts, and other summer activities, it’s all too easy to go overboard on your spending. But, with a bit of planning and creativity, we promise that you’ll be able to enjoy all the fun of summer without breaking the bank.
Here are our top four tips to making sure that this summer is the best one yet.
Set a Budget and Stick to It
The first step to saving money is knowing how much you can spend. Create a “Summer 2023” budget that includes all your summer activities, like vacations, family outings, and even that new swimsuit you’ve been eyeing. Be sure to include all the necessary expenses, like gas, food, and lodging. Once you have your budget set, the most important step comes into play–hold yourself accountable to it. If you find yourself overspending in one area, cut back in another to make up the difference. By sticking to your budget, you’ll know exactly how much you can spend and avoid any surprises when the bills come due.
Be Strategic About Your Credit Card Usage
Credit cards can be a helpful tool for earning rewards points and building credit, but they can also lead to overspending. To mitigate the risk of overspending, be strategic about your credit card usage this summer. Consider using your credit card for big purchases, such as plane tickets or hotel rooms, and pay off the balance in full each month. Additionally, look for credit cards with rewards programs so you can get money back. At RMLEFCU, we offer ample credit cards with rewards benefits–check them out here.
Take Advantage of Free Activities
There is no shortage of free activities to enjoy in the summer. Look for local events in your area like music festivals, outdoor movies, or community fairs. Take advantage of outdoor parks, hiking trails, and even your local swimming pool. With a little bit of research, you can find plenty of free fun for the whole family. Not only will you save money, but you’ll also get to enjoy all the beauty that Colorado has to offer.
Make Your Money Work for You
At RMLEFCU, we do what we can to set our members up for success. That’s why we offer KASASA CashBack Checking–a checking account that rewards you. With this checking account, our members enjoy no monthly maintenance fee, refunds on ATM withdrawal fees, 3% cash back on debit card purchases (with no category restrictions on said purchases), and no minimum balance to earn rewards. When you use our KASASA Cashback Checking Account, no matter what time of year it is, you’ll be rewarded for using it–and that’s something to get excited about!
Having a Blast this Summer Doesn’t Have to Break the Bank!
With these three savvy tips, you can have more fun in the sun and save money while doing it. Remember to set a budget and stick to it, look into credit cards with rewards, take advantage of free activities, and open up a KASASA Cashback Checking account. By following these tips, you’ll enjoy a stress-free summer, and your wallet will thank you. For more financial tips and advice, don’t hesitate to contact our Certified Financial Counselors at (303) 458-6660.