Summer is fast approaching– a worry-free season filled with BBQs, family vacations, and fun in the sun. Although the Summer days can put us at ease, you might find the warm months of events lead to increased seasonal spending. Here are 5 helpful savings tips to enjoy the holiday while also improving your financial health.

1.      Start Saving & Let Time Work For You

It is never too late to start saving, and money put into your savings from your income can accumulate over time. You have a powerful ally on your side: time. A good rule of thumb to follow is to set aside 20% of your monthly paycheck into savings, depending on your goals.

2.      Save Money With Fewer Services

Now that the Summer months have set in, what services can you eliminate or cut back on? Do you really need a weekly housecleaning service, a gardener, or a dog walker? The money you save by not using these services can go towards savings- and you might find yourself taking on a new Summer activity.

3.      The 30-Day List

Ward off any impulse buying this Summer with a 30-day list. If you feel like you have to have something, put it on your 30-day list. See if you still have the urge to buy it after 30 days. Chances are—you might not.

4.      Out With The Old

Spring cleaning oftentimes makes its way into the warm months, as we find more time on our hands to clean out the things we don’t need. Sell old clothes, furniture, or household items in a yard sale, and use the proceeds to put a little extra cash into your savings account.

5.      Reevaluate Your Financial Goals

After your vacation is planned and the big expenses are taken care of, allocate some time to take a look at your finances. It is never too late to start making good financial changes. Schedule time to consult with your wealth advisor – Summer is a great time to define or revisit your financial goals.

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