Summer is that time of the year when we form so many of our greatest memories. Whether it’s enjoying the company of our family and friends locally or heading on a vacation, the nicer weather can bring out the best of times. You might be asking yourself how can I save money this summer and still make it one to remember?
Summer also brings many health and wellness benefits through taking a vacation or enjoying a staycation. You’ve been working your tail off throughout the fall, winter and spring, now you’re ready to enjoy this summer and reap those benefits.
However, this increased leisure time and opportunity to get outside socially can also bring with it increased spending.
Summer doesn’t need to be a financial strain.
With better planning and cost-effective spending habits we can make momentum with your hard-earned money and turn this summer into your best one yet.
These money saving tips have been broken down into the following sections. Click to jump directly to any of those specific topics.
- Budgeting & Forecasting For Summer
- Planning Your Summer Vacation
- Save Money This Summer Locally
- Save Money At Home This Summer
- Getting Your Summer Mind & Body Ready
- Making Some Extra Cash
Here are 21 tips to save money this summer and still make the most of it.
BUDGETING & FORECASTING FOR SUMMER
1.) Review Your Year To Date Budget
The first step to getting the most of your money this summer should be checking the year-to-date budget status.
How are we tracking? Any shortages or overages that might alter what’s possible this summer?
Services like YNAB or Credit Karma Wealth help manage your budget, track spending and monitor all your finances in one place. The last thing we want to be doing is potentially getting into debt by using a credit card or line of credit to stop-gap any shortages.
Arm yourself with the full understanding of your current financial landscape, its a smart money move no matter the time of year..
2.) Update Your Summer Budget
Now that you’ve reviewed your year-to-date spending, it’s time to update your projections for the summer months.
Add a little cushion in your budgets from the start of June to the end of August. A buffer like this allows you to capitalize on opportunities that come up in the summer. You won’t feel financially guilty and have funds set aside to make the most of any spontaneous fun.
You worked hard all year and depending where you live, staved off some long months of rain and/or snow. Get that budget ready and invest back in yourself!
Prepare, plan and enjoy all that summer has to offer by getting that budget ready.
3.) Open A Specific Summer Savings Account
Using a specific savings account for your vacation funds is a great way to get the most of your money this summer.
You can keep this separate from your other accounts and always know exactly how your summer vacation/entertainment budget is standing.
Most of the popular online banking solutions offer flexible high interest savings accounts that offer additional sub-accounts at no cost. Canadians should check out the latest listings for the best high interest savings accounts via Ratehub. While Americans can use Nerdwallet to look over a number of high yield options.
Make sure you read the fine print and don’t get your money locked-up for a set time frame. You want these funds liquid and readily accessible.
4.) Check Your Vacation Day Balance At Work
Have you checked your vacation balance at work lately? If you aren’t going to be paid out for the leftover days, take them! I’d even recommend taking them as opposed to getting the extra cash.
Your body and mind likely need a break to avoid burnout (see an article on the health benefits of a vacation).
According to Money.com, 62% of American employees end the year with unused vacation days. Don’t fall into that side of the equation. Check your vacation balance at work and work with your employer to ensure you’re getting everything you’ve earned.
PLANNING YOUR SUMMER VACATION (AND SAVING MONEY)
5.) Educate Yourself On Travel Hacking To Save BIG
If you’re already a travel hacking connesuire, you can pass this one up. If not, travel hacking can unlock substantial cost-savings this summer for you and your family’s vacation.
So what is travel hacking?
Travel hacking is the strategic use of credit card rewards, loyalty programs, and sign-up bonuses to earn free or deeply discounted primarily flights and hotel stays.
Essentially, you’re using a mix of credit cards throughout the year to earn points to cover or offset your vacation costs this ummer.
One recommendation right off the bat is to listen to this podcast episode from The Mad Fientist and check out this blog post from Choose FI. These are great resources to get inspired about the potential of travel hacking to save money this summer.
Generally, the first step is to educate yourself on travel hacking and then to open a rewards credit card(s).
6.) Open a Rewards Credit Card To Save (And Make) Money
If you’re struggling with debt or don’t trust yourself to payoff your balance in full each billing period, this isn’t for you. However, if you’re confident in your ability to do so, why not earn some travel rewards on your normal spending?
DO NOT spend outside your means or spend extra just to earn rewards. It defeats the entire purpose.
For Canadians, the American Express Cobalt is a great daily churner card. It’s an amazing card for stacking up rewards points due to their 5x multiplier categories on food and groceries. Plus it’s super flexible points transfer opportunities with American Express make it one of the best cards available today.
Check out Nerdwallets updated listings for some of the best travel rewards credit cards.
7.) Review Your Credit Card Benefits & Insurance Coverage
If you’re travelling abroad or even locally, you should review the benefits and insurance details of your credit card.
Most include a variety of different tiers of travel insurance, rental car insurance, flight cancellation coverage and so forth. Credit Card Genius wrote about the types of insurance you might not be aware you have.
Depending on what card you have you might also have other VIP benefits like airport lounge access, hotel room upgrades and so on.
Please don’t spend on insurance you might already have covered by your card and don’t miss on those great benefits either.
8.) Use AI Tools To Help You Plan Your Summer Vacation
As you start to book your summer vacations make sure you’re getting the best deals on the market. Don’t overspend on your travel or accommodation!
Leverage the power of technology to source the most cost-effective solutions for you.
Take advantage of ChatGPT and Claude to do the heavy lifting for you. Use really detailed prompts about your ideal vacation, what you’re looking for, what you enjoy, a rough budget and timeline, etc.
Request that ChatGPT format its suggestions in a table for easier reading, including columns for estimated costs and locations.
AI can help you save money this summer and plan a great trip! Give it a try.
9.) Use Airbnb To Save Money This Summer And Live Like The Locals
Speaking of saving money on travel, Airbnb is how we like to travel whenever possible! I love the cost-savings of being able to cook some meals in-house brings when staying at an Airbnb.
Plus staying in a great neighborhood full of locals is the type of travel I enjoy most. You can get to really know a city by staying in the heart of it.
It’s always best to run the costs of a hotel vs. Airbnb of course. Sometimes the savings of a hotel (especially one that includes free breakfast) will outweigh the benefits of an Airbnb and access to a kitchen.
10.) Get A CityPASS To Take Advantage Of Bundled Tourism Activities
If you live in or are visiting one of the bigger North American cities this summer, CityPASS can help you save.
The CityPASS can save you upwards of 50% off the costs from purchasing directly from the attractions or locations directly.
CityPASS bundles the major tourist attractions into a one package (or pass) at a deeply discounted price.
For example, the Southern California CityPASS has Disneyland and LEGOLAND bundled with other popular spots. The New York City package includes the Empire State Building, American Museum of Natural History and a bunch of attractions.
SAVE MONEY THIS SUMMER LOCALLY
11.) Look Through Your Local Events Calendar
From food truck meet-ups or local brewery specialty days to outdoor music shows and firework shows, your local city tourism and events calendar is jam-packed with budget friendly events too.
Summer doesn’t just need to mean jet-setting vacations, take advantage of your “staycation” and enjoy the local offerings.
There will likely be a handful of free or “by donation” events happening every week and weekend.
12.) Check GroupOn For Local Deals
GroupOn is another tool to make the most of your entertainment money in the summer. There are always great deals on local concerts, food spots and attractions.
GroupOn is something millennials overlook often and don’t realize just how big the savings can be.
On any given day you can easily score 50%++ off discounts on offers locally or in the area you might be travelling to.
Don’t overlook GroupOn as a lever to save money this summer.
13.) Eat Out Less
Enjoy each other’s company without the costly food and drink bills that restaurants can bring.
So take advantage of the nicer weather and use it as an opportunity to host friends and family for dinners and get-togethers.
Clean off the BBQ and get it ready for the summer season. Keep an eye on the Amazon Outdoor Cooking Tools And Accessories page for any special sales or offers.
14.) Find Out The Farmers Market Schedule
The summer weather brings with it more farmers markets stuffed full of amazing, fresh and budget friendly food.
Not only do you get the benefit for your own wallet, you also get to support local businesses. Local Harvest is an awesome resource to find all the different farmers markets in your area.
Pay a visit to a few of them and get to know the owners/producers. Building those relationships will help you find the best supplier of each piece of produce or item you like and also potentially save you some money.
Farmers markets are a great way to make the most of your money this summer.
SAVE MONEY THIS SUMMER AT HOME
15.) Start A Garden
Speaking of fresh, healthy and cost-effective food, why not start your own garden?
Even if you don’t have a full backyard to plant a bountiful vegetable garden, you can still grow herbs and other veggies on your window sill or balcony.
This article from Tasty has all the tips you might need as a beginner. Whether you want to grow a variety of herbs, tomatoes, cucumbers or chili’s this year…a DIY home garden can help you save money this summer.
16.) Cut The Cord On Cable
The average American adult spends 4 hours watching TV each day.
Why not make summer be focused on being outside with your family and friends enjoying the fresh air, barbecuing, camping, hiking, swimming, relaxing and so on?
If you’re in a flexible cable plan, why not cancel it for the summer and save $300+? If you’re in a long-term contract, it might be worth considering cutting the cord anyways. You’ll save tens of thousands of dollars across your lifetime and there are numerous cost-effective solutions available.
17.) Manage The Thermostat To Save Money This Summer
Don’t leave the AC blasting while you’re away at work or on vacation over the summer. The added energy costs to cool your house when you aren’t even there can sink your wallet.
This article from Direct Energy includes a handful of great tips for summer thermostat management.
Whether it’s using window treatments to block sun or limiting use of heat generating appliances until later in the evening, you can definitely cut some costs with your summer energy bill.
GETTING YOUR SUMMER BODY & MIND READY
18.) Start Your Summer Fitness Routine
The nicer weather brings the opportunity to get outside and enjoy the fresh air in a healthy way. And also in a free (or budget friendly) way.
Get a head start on summer before it’s here by dusting off the bike or running shoes now. If you have access to a pool or lake, swim.
Here is a great article from Fitness World on staying motivated with your summer-ready fitness plan.
19.) Stock Up For Your Summer Reading (Save Money This Summer With Your Library Or Local Book Swaps)
One rewarding things about summer is the amount of time you can spend reading outside in the fresh air. Whether it’s lakeside or just on the patio, there’s something nice about churning through pages of a great book in the nice weather.
It’s a cost-effective way to fill the hours and reward your mind with some engaging books.
If you’re looking for some book ideas here are the best books for twenty somethings on money and life.
One simple frugal living tip is to take advantage of your local library or a local book swap. You can save some serious money this summer by finding cost effective sources for books vs buying brand new.
EARN SOME EXTRA CASH THIS SUMMER
20.) Side Hustle To Earn More With Your Extra Time
Whether you have some extra time in the lead up to the summer or more free time during those summer months, why not earn a little cash?
Use those dollars to fund your vacation, stock up your emergency fund, pay down debt, invest or however you see fit.
Want some great ideas to earn more money this summer? Dive into these:
- How To Make Money From Your Phone For Free: 27+ Apps & Easy Ways
- How To Make $1,000 Fast: 13+ Quick & Easy Ways To Make Money ASAP
There are plenty of side hustle opportunities available to get your financials ready for summer or boost them during. Walk dogs with Rover to make extra money while outside in the summer weather. How about earning some easy money online with Swagbucks or Ebates? While it won’t break the bank, every dollar counts.
Swagbucks – Make Money From Your Phone
Swagbucks is a great way to make a little extra money online from your phone. You earn cash by taking surveys, using the Swagbucks search engine, getting cash back on online purchases, playing games, discovering deals, buying gift cards and watching videos.
With 9+ ways to make money, it’s one of the most popular digital rewards platforms. To date they’ve paid out over $680 million to their members.
The Swagbucks website, app and browser extension helps make sure you can access their services from your phone at any time.
Sign up today and get a FREE $10 welcome offer.
Rakuten – Earn Cash Back On Your Spending
Earn free cash back with Rakuten for the normal spending you would traditionally do online. All you do is register an account and click through the links on the Rakuten website or App (or install the Browser Extension).
Rakuten has affiliations with almost every major retailer cluding Amazon, eBay, Indigo, GroupOn, Expedia, etc. So the cash back opportunities on your normal shopping habits are endless.
You aren’t spending any more and it’s not costing you anything. They just pay you a % of cash back as part of your spending.
When you’re ready to cash out you have 1 of 3 choices: a cheque, PayPal or Interac e-Transfer.
Rakuten offers a registration bonus of up to $30 FREE for new users.
21.) Sell Off Winter And Fall Clutter
If you have any items that you didn’t even put to use over the past winter and fall, flip them on eBay, Amazon, kijiji, etc.
We all have those things that just sit in our closets or storage all summer and then when fall/winter comes back around, we drag them out…and never use them.
Sports equipment, books, old furniture, clothes, etc.
Do some quick research on similarly listed products and recently sold products to determine your price. Take some good photos on your smartphone, write up a description and list it.
CONCLUSION: Save Money This Summer (And Still Have Fun)
Summer gives us a great opportunity to enjoy adventures and leisure both locally or wherever our hearts might desire.
These summer adventures don’t need to totally crush our finances.
By spending time to properly plan and then spending smarter, we can save this summer and still make the most of it.
What do you have planned for this summer?
Are there any tricks or tips you use to make the most of your money in summer?
