As summer comes to a grinding halt and children are back in school,
are you recovering from spending whiplash? During the lazy days of summer, it
was so easy to say yes to extra visits to an amusement park, another ice cream from
the ice cream truck or one more pizza delivery by the pool, but those extra
treats cost money and were probably not in the budget.
So, how did these seasonal splurges affect your bottom line?
Were you able to save your wallet from turning into a red lobster?
While sitting around the pool this summer, I was shocked to
learn that many people don’t have a budget. Most rely on tax refunds or bonuses
to pay for summer fun. Some opted out of doing something if it was too
expensive, while others used credit cards to give in to their children’s
desires.
However, it was refreshing to hear these suggestions from
those who do budget.
·
One family has their yearly expenses as a line
item in their monthly budget. They map out the whole year in December to
include budgets for vacations and camps. Then, they add it up and divide it by
12 and use whatever is left over for fun extras.
·
One dad uses a cost benefit analysis of expected
fun vs. cost to decide is it worth doing, should we do it again, or choose
something else? He measures the qualitative vs. quantitative aspects of all
summer activities.
·
My husband uses a savings app that breaks out
our 20ish budgeted items (car, house, food, clothing, vacations, gas,
utilities, misc. spending, charity, etc.). Then we found ourselves a couple
hundred dollars below where we thought we would be at the end of the year, not
because we meticulously budgeted but because we were careful with our spending.
Even If you got swept up in summer splurges, all is not
lost. I love playing these little savings games to see if I can “save the
change.” Here are some ideas:
·
Throw your loose change in a jar and roll it or
take it to the bank to have it counted
·
When you break a larger bill, save the five-dollar
bills and put them in a separate envelope
·
If you allow yourself some fun money every week
and don’t spend it all, instead of rolling it over to the next week, put the extra
money in another envelope for savings
You might surprise yourself at just how much money you saved,
and it could be enough for an unexpected treat next summer.
At the end of the day, it’s not about where you go, but the
memories you are making together. So whether it’s a staycation, a weekend
getaway to the beach or a trip to visit extended family, your children will remember
time spent together as a family.
