How the Holidays Can Save Families

Holidays means time with the family and friends, beautiful weather and more outdoor activities. But how does it impact your wallet? Actually, summer offers many surprising ways to save money. See 5 simple tips that could save your family money in June.

1.Open a holiday bank account or line of credit

Summer spending is at a different pace than other times of year. A great tip for families is to have a designated bank account to use for summer travel and activities. When starting out, you can set aside your budget for the summer and only spend from that account. Perhaps it is not enough money? In that case you can consider saving over the year for next time or even taking a short-term loan or a line of credit  to pay for your holiday enjoyment.

Good organisation of your finances is the key to a budget-friendly June. By having a specific funds for summer, you can really get a picture of how much you are spending and set realistic goals that strike the balance between what you want to do and how to pay for it.

2.Outdoor and at-home cooking is a cheap option

Eating out is a year-round activity. But during summer, the possibilities of how to enjoy eating with your family get expand. People are getting out and barbequing more often and it is easy to cook a cheap meal on the grill. Also, you could host pot-luck garden parties where people all pitch in to the food and drinks. This comes together to mean less trips to restaurants and cheaper meals cooked at closer to home.

This brings us to the next point: your garden. June is great for having a vegetable and herb garden right outside your door. Even windowsills can be an easy place for herbs and, for example, peppers. Not only do you save money by not having to buy so many fresh vegetables, you also can save on fuel costs by not driving back and forth – just walk outside and get ready for a fresh meal.

If you still need to go to the grocery store, that’s also OK. Warm weather means a lot of fruit, veggies and herbs are plentiful and cheaper at your supermarket or from local farms. Why not take the trip by walking or cycling?

3.Kids are on summer holiday

Maybe the youngest kids won’t contribute money for the household. Unless, you count time as money. Then they will in a way. This is the best time to get kids more involved in household chores and small projects. Not only does it teach them valuable lessons, it also saves the adults in the house a lot of time and energy.

Older kids, however, can have more opportunity to at least indirectly contribute in terms of money. This is the time of summer jobs and independence. That means teenagers are more likely to be making their own pocket money and spending more time out with friends, which can save parents money in the long run.

4.Cheap entertainment can be just a few steps away

From sport to swimming, hiking in the forest to frisbee golf. Many warm weather activities are either cheap or free. For example, you can turn your outdoor picnic into a family event. Bring along some garden games or a ball to toss around.

Many kids – both old and young can use their creativity to find fun and free things to do outside. Families with children can save a lot of money on entertainment costs and entrance fees by just being outdoors to keep everyone happy. What’s more, it’s a great way for people of all ages to put down their phones and spend quality time with the people they care about.

5.Off-season shopping offers a return

Too much shopping during the summer is not the most logical way to save money in the short term. However, with a longer view, summer sales can save you money. The selection of cold-weather clothing and off-season items is probably limited. But if you do come across these things, they will likely be at deeply discounted prices. So, keep your eyes open for sales.

Summer furniture and garden accessories will also start to go on sale as the season goes on. In general, it is wise to think ahead to upcoming seasons instead of making purchases during peak times. For example, you could make a list of things you plan on buying anyways for autumn and winter and take a look around online and in-shop for great deals. You’ll be happy you did later, and you can save money down the road.

Want to know more money management tips? Read how to start a rainy-day fund for your family.