Summer is in full swing here in New Jersey which means pool days, backyard BBQs, and a sunny vacation or two. The warm weather has a way of making people want to live in the moment. As a result, it’s not surprising that Americans spend the most amount of money in the summer months.[1]
While summer can be expensive, it doesn’t have to be for the savvy saver. Keep reading to find out five simple ways to save money this summer.
#1 Seek Out Free Forms of Entertainment
Having fun in the summer doesn’t have to cost a lot of money. You can find plenty of free activities in your area if you keep an eye out for them—concerts in the park, drive-in movie theaters, and neighborhood block parties are just a few examples.
If your neighborhood’s events are lacking, you can plan some of your own. Just pack some snacks and a speaker for a memorable picnic in the park or family beach day.
#2 Pause Your Gym Membership
In wintertime, your gym may serve as a toasty respite from the frigid elements. However, the summer sunshine opens up many opportunities for outdoor exercise, including:
- Running in your neighborhood
- Taking a walk around a local park
- Hiking a nearby trail
- Doing yoga on the beach
- Swimming in the pool
With activities like these, staying on your workout grind without a gym membership is a breeze. In turn, you may want to shave that recurring expense from your monthly summer budget.
#3 Be Savvy With Your Energy Use
The summer heat may revitalize you as you lay out by the pool, but it can quickly inflate your AC bill if you’re not careful. Here are a few tips for keeping your energy bills low:[2]
- Keep your window coverings closed during the day
- Make sure all of your windows and doors are closed before turning on the AC
- Re-caulk your windows and doors to prevent cold air leakage
- Cook outside on the grill instead of using the indoor oven
#4 Save For Summer Vacations Ahead of Time
Summer is the go-to season for family vacations. With so many people competing for airfare and hotels, these trips often come with peak-season price tags.
Fortunately, you can make your summer vacation more affordable by:
- Saving up for it in advance – If you don’t have some money stashed away, you may end up relying on your credit card to finance your vacation. Not only can this increase the total cost by tacking on interest, but it may also make it harder to stick to a budget. A more financially-savvy way to finance a vacation is to save up for it in advance. Just transfer a set amount of money into your savings account each month throughout the year.
- Set up a dedicated summer fund – At North Jersey Federal Credit Union (NJFCU), our Vacation & Holiday Club Account is the perfect place to stash your summer funds. With this account, you can set your savings goal, earn dividends on your deposits, and receive your money automatically in the first week of July.
- Booking your accommodations ahead of time – In addition to funding your vacation in advance, it’s smart to book everything as early as possible. This way, you can secure cheap airfare and accommodations before the summer rush sets in. Booking early will also give you more time to search for special discounts on rental cars, hotels, and flights.
- Selecting a hotel with a kitchen – Eating out for every meal can quickly increase the cost of a vacation. Thus, if you can find somewhere to stay with a kitchen or kitchenette, it may be a more cost-effective option.
#5 Host a Garage Sale
So far, we’ve outlined a few ways to spend less this summer. However, you can also boost your savings by earning some money on the side.
Hosting a garage sale is a fun way to get your hands on some extra cash. Just lay out the items you considered getting rid of during your last spring cleaning session and see what your neighbors offer for them.
Save This Summer By Joining the Best Credit Union New Jersey Has to Offer
As you can see, there are many ways to maximize your summer fun while saving money along the way.
By storing your money at the best credit union in NJ, you can enjoy many perks. At NJFCU, we offer our members outstanding customer service, flexible saving account options, the best credit union credit cards, and so much more.
Discover the many benefits of becoming an NJFCU member today.
