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Summer Spending | XL Financial Blog

Summer Spending

Posted on 27. May, 2014 by in Financial Planning

Summer is something that it seems everyone from age 2 to 102 look forward to each year. One thing that many from all lifestyles do tend to struggle with however is summer spending. You want to do it all and make the most of it but if you are not careful, your summer plans can be expensive and cause you to buckle financially. Here are five tips to staying fiscally free throughout the summer.

Make a Budget and Stick to It

It is important both during the summer and throughout the year to make a budget and stick to it. You may be spending more on food during the summer due to the fact that you may have more barbecues and potlucks to attend, but if you can find another area of your budget to cut back on to make up for it, this might be a good thing to do.

Plan More Staycations

Many people plan major vacations during the summer, which is fine as long as they can afford it without relying too heavily on credit to do so. One thing that can be just as fun is staying in your own backyard throughout the summer. Plan a staycation and you might be surprised at how this lowers your summer spending, and what activities and events are available to you if you just look a little bit deeper.

Find Alternative Transportation Options

During the summer, the weather is great. Rather than coop yourself up in your car, spending all of that money on gas, take the opportunity to enjoy the warmer weather and take more walks, or ride your bike to wherever you need to go. You will feel better having the warm sun on your face, and your body will thank you for the extra exercise.

Take Advantage of Free Events

The summer is a great time to enjoy different events with your friends and family but remember that there will likely be a lot more free events during the summer than any other time of year. Take advantage of outdoor film screenings, concerts in the park, and more. Your local Chamber of Commerce will likely have a list of events, many of them free, that you can attend to help control your summer spending.

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