Ah summer.. I love it! Out comes the golf clubs, the grill and the summer wear! There isn’t too much to dislike about this time of year. There are also plenty of ways to stay financially savvy too! Here are 5 that can you help you jumpstart your finances and get you off to a great summer:
- Start saving!
There is no better time than this summer to open a savings account! There are plenty of reasons to start one too: planning for the summer get-a-way, your kids education, or putting money away for a “rainy day” – saving is insurance to life’s unexpected events that can take us by surprise. Start small – you could begin by saving $500 to $1,000 for an emergency.
- Financial tune-up
Just like cars – your finances need a check-up now and then. I’m often blind-sighted by certain areas related to my finances. So, it pays to visit with a financial adviser or good friend / family member who excels at their own personal finances now and then. Have them take a look at your budget and ask for suggestions where they see areas for improvement. They may call your attention to something you never even thought about.
- Sell your crap
Take advantage of the summer garage sale season to get rid of things you never use. It’s also a great way to declutter your dwelling and put a few extra bucks in your pocket.
- Dine in vs. dining out
I love to eat out – but with summer upon us – it’s a lot easier (and cheaper) to eat in. Get out that grill and have some BBQ! I love feasting on hamburgers, brats and steaks. Make it a social night and invite the neighbors or family and friends over.
- Shop around for better rates
Currently mortgage rates are at historic lows. It may be a good time to see if you can refinance your home. And, homes aren’t the only financial area for negotiation. Try and see if you can get better insurance rates, consolidate your school loan, or shop around for better cable/internet packages.
What other areas are you looking to be more financially savvy this summer?