For many of us, summer is a time where we spend much more money than the rest of the year. Vacations, nights out with friends and increased energy costs can all impact our financial standing. It’s for this reason that many people are trying to transform summer from a spending season to a saving season.
If you’re interested in saving your money this summer, then it’s important that you have the right strategy. Here are 4 money-saving tips for summer that can help preserve your bank account and make sure that your finances stay strong.
Think About Fuel Costs
It’s a well-known fact that fuel costs can rise tremendously in the summer . This poses an especially large problem for those of us that have to commute for work. If you’re looking to save money this summer, one of the most effective things that you can do is to carpool to work with a few of your fellow employees.
Ideally, you would find a least five employees for your carpool. This will allow each of you to only use your car one day a week. Carpooling during the summer months can help reduce the impact of rising warm weather fuel costs and will let you save money.
Get to Know Your City
For most people, the largest cost during the summer is going on a vacation. Depending on your destination and the length of your vacation, your trip can cost hundreds to thousands of dollars. If you’re interested in saving money this summer, a good idea is to skip the vacation and instead choose a staycation.
With a staycation, you’re remaining in your city instead of traveling to a new location. This allows you to save on travel costs and hotel costs if you choose to stay in your own home. During your staycation, you can become more familiar with your city while saving a great deal of money.
Reduce Your Energy Consumption
Perhaps the best way to save money during the summer months is to adjust how you and your family consume energy in your home. As the temperature rises, there is the understandable temptation to crank up your air conditioner. However, this can result in much higher energy bills. You should instead keep your AC at a reasonable level and use devices like fans to keep cool.
Another way to reduce energy costs is to turn down the temperature on your home’s water heater. Keeping the temperature set high during warm weather can cost you hundreds of dollars over the course of the summer. Turn down your water heater and enjoy a cool, refreshing shower and lower energy bills.
Get Help when Money Saving Goes Wrong
Even with the right summer money saving strategy, you can run into unexpected bills that may put you in a precarious financial situation. If you need help out of a financial bind this summer, your top solution is to get an installment loan from Koster Finance.
Koster Finance is here to help you when you’re faced with a bill that you can’t immediately pay. Our installment loans are generally available between $500 and $1,000 and are the ideal solution for paying a bill when you’re tight on cash. To make things easier for you, we provide flexible repayment schedules and discounts for paying off your loan early. Contact us today to learn more about our services and how we can help you.