How To Be Financially Smart While Having Summer Fun

Summer gets a reputation for being the season of excess: the days are longer and so is the list of everything we want to do and enjoy before fall calls us back inside. While we want to make more memories, we don’t want to rack up credit card debt in the process. 

To help us stay on track with our financial goals while still seizing summer for all its fun, we’ve tapped financial planners and coaches for some of their best tips on how to be financially smart this summer. 

“The main key here is to create intentionality so there is not the guilt that usually comes when we indulge in our summer spending that ramps up with summer activities and travel,” said Gloria Carcia Cisner, a certified Financial Planner (CFP) based in Los Angeles. “It’s about creating a balance.”

Dive into these tips to get started:

What’s the number one thing on your summer bucket list? Whether it’s a trip to your favorite beach town, scoring concert tickets, or finally gifting yourself that super luxe swimsuit you’ve had your eye on, be just as intentional about what you do want to spend our money on as where you want to cut back and save. 

“Instead of diluting funds doing multiple smaller activities, focus on one larger trip or vacation,” says Nicole Stanley, owner and head money coach at Arise Financial Coaching. “You can still make it frugal by keeping a budget and making the destination closer to home. This way, your summer will still feel indulgent, but your wallet won’t suffer.”

If jetsetting isn’t on your itinerary this summer, that doesn’t mean you can’t still feed your hunger for travel and exploration. Look at your town with new eyes, imagining you’re a tourist. 

“You may be surprised by the locations, parks, museums, and more that you have missed because you were occupied with responsibilities elsewhere,” says Stanley. “Start by creating a list of places in your surrounding area that you haven’t had the time to visit, and make it a point to act like a tourist in your own town.” 

Keep this list handy, and refer back to it when you’re feeling the call to adventure. 

Spending more consciously can start with dining: How often are you getting takeout, or booking Rezys?  If dining out is diluting your fun money that you’d rather spend on activities and travel, swap the table for two for a picnic. 

Angel investor, venture capitalist, and women’s wealth coach Lisa Wang enjoys the benefits of enjoying picnics. “It’s a great way to enjoy the outdoors, eat healthy, and save money,” she says. “You can make it a fun event with friends and family, creating delicious meals together.” 

You can even set a theme, and invite friends to bring a dish — giving people something to get excited about, while reducing costs by sharing the load. 

Remember, your local hotspots will be there yearround. Scenic summer vistas will not! 

As you book travel this summer, look into flying midweek if your schedule can afford the flexibility. Typically, flight prices are higher on Sundays because people are rushing home to get bck in time for the workweek. Can you come back on a Monday? Similarly, avoid traveling on big holiday weekends. Wang recommends traveling during off-peaks times to not only get better process on flights, but more attractive deals on accommodations as well. 

Just like any other season, you want to build fun money into your budget. While this is essential to financial health no matter the season or your circumstances, it can be especially empowering if your purse strings are a light tighter this summer.

“Consider using summer to build up a vacation fund for another time of year, such as a ski trip for a winter getaway,” said Erika Rasure, Ph.D., chief financial wellness adviser and client financial therapist at Beyond Finance.

With your future getaway goal in sight, it can be easier to prioritize frugality during the summer.