“How To Get Your Money Back On Track Ahead Of The Summer Holidays” is a collaborative post.
With summer just around the corner, are you ready? If not, the good news is that there’s time to do something about it.
By now, you’ll have booked, or be in the process of booking your holiday. There’s the summer wardrobe to think about, both for you and the kids. There’s probably a few parties and big days out you’ve got planned as well.
What do all these things have in common? Money.
There’s no denying summer’s going to cost you some serious dough, indeed it may already have. With that in mind, it’s important you come up with a sensible financial strategy to get you through the sunnier months.
How To Get Your Money Back On Track Ahead Of The Summer Holidays
Set Spending Goals
We don’t need to get too deep here; we’re not trying to set life goals, just what you want to get done this summer. A great holiday will likely be up there, and what you want to do on that holiday. More pragmatically, you might have some debts to pay off, or an important purchase to make.
Whatever you want to do, you need to be realistic and understand you probably won’t be able to afford to do it all. It’s about what’s most important to you; can your debts wait while you enjoy your summer, or do you need to get your house in order before you can jet off on a big holiday?
Identify your goals and then prioritise them. From there, you can build a budget to achieve as much as you can.
Make A Budget
You may have tried budgeting before but with limited success. The fact of the matter is a proper budget could help you keep track of your finances through summer, prepare you for the big spending periods and help you get out the other side of the holidays still financially stable.
Determine your income over the period, think about the seasonal expenses that will go on top of your regular outgoings and see how it all breaks down. Creating a budget will help you identify areas you might be able to cut back on so you can afford others, as well as helping you track and regulate your spending during a season where money is traditional flying all over the place.
Automate Your Life
Smart technology is taking over our lives, generally for the better. Online banking is just one of the areas benefitting from smart-tech, with a whole host of tools available for you to better manage your finances.
If you haven’t taken the opportunity to automate your finances already, make it the next thing you do. Automating means merging your accounts and distributing your money as soon as it arrives in your account. This means you can automatically put some money into your savings account on payday, schedule utility payments and redistribute funds towards debt payments, all before you’ve had a chance to get your hands on it.
Not only does it take away the legwork of regular financial admin, but it also gives you a chance to protect yourself from your own urges to frivolously spend, which are never greater than in the summer months. Thus, using your online banking wisely could help you make huge financial strides for summer and beyond.
The summer months are bound to cost money, but you can take steps to regulate exactly how much. You should find that, with a bit of discipline and strategy, you can enjoy the holiday period just as much as normal but save some serious cash in the process.
This is a collaborative post.