Summer is full of fun vacations, backyard barbecues, road trips, fairs, and family activities.
Unfortunately, it can also be a season when spending gets out of control.
The good news? A few simple habits can help you enjoy summer while building your savings at the same time.
1. Play the “Zero Out” Game
At the end of each day, move your leftover dollars into savings. For example:
- Have $24 in your wallet? Put $4 into a savings jar.
- Have $253 in your checking account? Transfer $3 to savings.
Even easier: You can automatically round up your debit card purchases and put the extra away in savings, your child’s account, or donate it to a local charity! Call or stop in to sign up today.
2. Don’t Let Summer Spending Sneak Up on You
Summer can be expensive if you’re not paying attention.
Before buying something that isn’t a necessity, try the 24-Hour Rule.
Ask yourself:
- Do I need it, or do I just want it?
- Am I buying it for me, or to impress someone else?
- Will I still want it tomorrow?
Most impulse purchases lose their appeal after a night’s sleep.
Think About Cost Per Use
A $100 item used 100 times costs only $1 per use.
A $500 gadget used twice costs $250 per use.
The best bargain isn’t always the cheapest item; it’s the one you’ll actually use.
3. Win the Fuel Economy Challenge
Gasoline is expensive, so make every mile count.
- Combine errands into one trip
- Avoid unnecessary drives
- Make fuel efficiency a game
- Accelerate gently and slow down a little
Your vehicle—and your wallet—will thank you.
4. Pay Yourself First
Most people save whatever is left at the end of the month. Successful savers do the opposite!
Set up:
- Payroll deductions
- Automatic transfers; call to set these up, if you haven’t yet!
- Debit card round-up
Move money to savings before you have a chance to spend it.
Even $10 or $20 per paycheck adds up over time!
5. Give Your Savings a Purpose
Saving is easier when you know what you’re saving for and have the right savings account for the job.
Examples, most of which you can set up right here with us, include:
- Emergency fund
- Vacation
- Christmas gifts
- College expenses
- Paying off debt
- Retirement
When your savings has a purpose, it becomes much easier to stay motivated.
6. Track Every Dollar
The fastest way to improve your finances is to know where your money is going.
Use:
- A notebook
- A spreadsheet
- A budgeting app
The method doesn’t matter. Consistency does.
Review your spending regularly and look for patterns that surprise you.
7. Make Money a Family Conversation
Finances shouldn’t be a mystery.
Set aside time to discuss:
- Bills
- Savings goals
- Upcoming expenses
- Family priorities
Children can learn valuable money lessons by participating in age-appropriate discussions.
The family that plans together saves together!
8. Don’t Be Afraid of Your Finances
Avoiding financial problems doesn’t make them disappear. Facing them gives you the power to improve them!
Whether you’re dealing with debt, budgeting challenges, or unexpected expenses, taking action today is always better than waiting until tomorrow.
Challenge Yourself
Pick just one idea from this article and start today.
You don’t need a perfect budget or a huge income to build savings! Small actions, repeated consistently, can create big results.
