Spring is almost here and that means it’s time to start preparing for the next best season: summer. A summer of fun may entail some spring splurges, from vacation planning and childcare to landscaping and purchasing patio furniture. Excessive spending and low savings can add up to one big headache (or, is it just spring allergies?).
Although we can’t help with spring costing you an hour of sleep, we can give you some ways to save this season:
Do it yourself: Spring calls for a lot of cleaning and upgrades – the garden, the lawn, the house, the garage, the pool – you name it. Before you call a service and open your wallet, consider doing the work yourself. Ask a friend for help or teach yourself to learn this new skill. You could save thousands by doing it yourself every year!
Save your tax return: Whether your tax return is a few hundred or a few thousand, use it wisely. Consider this as your opportunity to catch up on missed payments, create an emergency fund, or put into savings and investments. Or, put the cash aside for summer vacation or new outdoor furniture to avoid putting on your credit card.
Clean out your debt: If spring cleaning doesn’t seem that rewarding, cleaning out your debts sure will. Pay as much off as you can now or make a plan to do so and stick to it. Consider using your tax return to kick-start your debt spring cleaning. Remember, the best way to save is by eliminating debt!
Spring cleaning: After you take inventory of your budget and debt, it’s time to tackle the house. Clean out the garage, shed, basement, attic – anywhere that’s accumulating clutter. Turn that clutter into cash by determining what you can sell at a yard sale this season. A yard sale is a great way to raise some extra funds all while crossing a task off your to-do list.
Meal plan: Summer’s around the corner and finances aren’t the only thing we want to get in shape. This spring, get in the habit of eating in and making smart choices (for your wallet and your body) at the grocery store. Eliminate waste and over-spending by creating a weekly meal plan and purchasing only what you need. When you cut out or cut down on eating out, it’s amazing how much you can save!
For more budgeting and savings tips, visit penncommunitybank.com.