It is easy to overspend during the long summer days. After all, the kids are out of school, and the average individual enjoys letting go a bit during the summer. However, it is important for you to remain focused on your long-term financial goals even during the summer.
Turn down the hot water
Most of us enjoy a nice warm bath or shower during the cool winter months. However, homeowners often neglect to turn down their hot water setting when the warm temperatures arrive. The USDE estimates that the average homeowner spends from $310 to $400 a year on hot water. Therefore, homeowners who turn down their water heaters will notice a reduction in their electric bill yet most likely will not notice the difference in water temperature.
Go on a “staycation”
Vacations include the cost of a hotel, gas or airfare to get there, eating out expenses and any activities completed while out-of-town. Consequently, vacations can be very expensive. For that reason, planning a staycation can save families quite a bit of money this summer. Staycations could include frequenting local attractions. Even with paying entry fees to local amusement parks or aquariums, individuals can save a great deal of money by not having to pay for lodging. In addition, just relaxing at home is also a valid staycation. Simply taking time off work is vacation enough for many individuals, and avoiding a traditional vacation will save individuals plenty of money this summer.
Eat at home
Although this tip will work throughout the year, the summer presents many unique opportunities for cooking not available during other parts of the year. For example, grilling is a great way to prepare food and take advantage of summer’s moderate evening temperatures.
Buying food in restaurants or vending machines really adds up over the course of time. Therefore, making an effort to eat at home more than out will result in substantial savings. In addition, while frequenting parks or other activities, it is wise to bring along food from home in an effort to prevent the propensity to succumb to the temptations often found in these locations such as snack and ice cream vendors.
Create homemade personal care items
The Department of Labor revealed the average family spends $526 on personal care products. However, summer with its more relaxed days presents the perfect opportunity for individuals to create their own personal care products. Making moisturizer, shampoo, face wash and other similar products is not near as difficult as most people assume. Thankfully, many of the needed ingredients are already found in the average home. Moreover, there are numerous recipes online that will guide individuals through the process.