With better weather and heavier socializing coaxing us out of the house, summertime can be a notoriously expensive time of year. Last-minute day trips, post-work drinks, and spontaneous gatherings can pull on the purse strings more frequently than you might expect.
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It’s been reported that heatwaves are linked to an increase in spending in shops and on staycations. This is largely because people are keen to make the most of what could be a small window of sunshine. But you don’t have to part with more cash than you’d like. There are plenty of ways to bump up your savings during the summer, as opposed to constantly depleting them. Here are a few pointers to help you optimize your cash during the summertime.
Make the most of the weather
A sunny day opens up the door to endless free outdoor activities – undoubtedly one of the greatest perks of this time of year. You could do a beach day with a home-packed picnic or go for a hike, again with your own supplies, to cut down costs.
Plan travel in advance
Planning in advance is the key to unlocking discounts and scoping out the best deals. This might look like taking the time to identify a free parking spot for a day trip, buying a cheaper rail ticket using discounts by the travel provider, or looking out for cheaper flights if you plan to venture further afield.
Start saving up
Do you have a long-term saving goal in mind? It’s worth setting aside a portion of money each month to help you meet any long-term saving goals you might have. To make your money work harder, you could consider a savings account that simultaneously allows you to improve your credit score, giving you further incentive to stash away cash that would otherwise be spent. It's also smart to consider investment options that can bulk up your savings while ensuring their safety. For instance, comparing CD accounts can help you find the best rates and terms, allowing your money to grow more effectively over time.
Eat like a local
If you’re heading to a popular tourist spot, whether in the UK or abroad, it’s worth looking out for tourist traps and steering clear when searching for food. Instead, embrace what the locals eat and hunt out authentic eateries. Plus, it’s often the tastiest food in the area! Avoid the queues and seek out somewhere a little different.
Have a backyard bash
Hosting your own gathering at home is a great way to cut down costs while still making the most of socializing in the sunshine. You could ask guests to contribute with food and drink items, so the burden isn’t entirely on you.
Have a clear-out
Embrace the change of the seasons by having a clear-out. From clothing to homeware and everything in between, you could earn extra cash by selling your goods to those who are willing to give them a new home.
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