Summer Savings Strategies

By Sara Weiser, PSECU's Public Relations Manager

Summer is a time for getting out in the sun, not a time for building debt. It can be tempting to book weekend getaways and vacations without a second thought, but it's important to consider how your summer spending will impact your finances in the long run.

To help you enjoy summer without the pain that results from overspending, here are some suggestions for no- or low-cost activities that will maximize your fun and minimize your debt.

• Plan a staycation. If you can't afford to go out of town without getting yourself into debt, plan a staycation with your family or friends. Oftentimes, we don't notice many of the interesting things in our own towns because we're so used to seeing them every day. Do an Internet search for where you live and see what others have noted as they travel through. Compile a list of some local attractions or landmarks and spend a day being a tourist in your own town.
• Look for free community events. Many communities offer free events to encourage residents to get outside. For example, some townships or community centers offer free movie nights. Bring along a blanket and some snacks, and enjoy the entertainment for much less than the normal cost of tickets.
• Scout out free or low-cost concerts. Some public parks will host concerts for the public either for free or at a much-reduced ticket price. You'll enjoy the time spent with family or friends much more knowing the experience didn't break the bank. 
• Plan a potluck-style picnic. Instead of paying high prices for meals at a restaurant, plan a lunch or dinner picnic for your family or friends. Make it potluck-style so everyone contributes one dish to the meal. Not having a menu in front of you will keep you from ordering food you don't really want or need. Plus, packing and bringing all the food yourselves will save you from paying service fees or gratuities. Just don't forget to be kind to the environment and clean up when you're done!
• Organize a clothing swap. Are you tempted to buy an all-new summer wardrobe for you and your kids because boredom with current clothes has set in? Before you succumb to the temptation, reach out to friends to plan a date for a clothing swap. Agree upon a number of items for each person to bring and take. Then clean out the clothes that you or your kids will probably never wear again and trade them for some new-to-you clothing without the hefty price tags.

The content provided in this article is for informational purposes only. Nothing stated is to be construed as financial or legal advice. PSECU recommends that you seek the advice of a qualified financial, tax, legal or other professional if you have questions.