From beach trips to barbecues, pool parties and amusement parks, there are a lot of reasons to spend money this summer!
With the warm weather and long sunny days, you may have a lot on your social calendar.
Unfortunately, your summer vacation may be more expensive this year. High gas prices and continued stubborn inflation are making everything cost a little bit more.
We don't want you to cancel plans or stay home all summer, so here are a series of tips on how to maximize fun while minimizing the cost.
Save on gas. Gas prices are higher than they were last summer, but there are still ways you can save.
- Try to travel during off-peak times, like early in the morning. Instead of sitting in midday or afternoon beach traffic, you can save gas and get there faster.
- Download a gas prices app, such as GasBuddy. Sometimes going just a mile down the road can save you 20-cents per gallon. You might also download Upside, which can give you cash back at gas stations. (It also offers rebates on food and groceries.)
Save on food. Whether you're dining out or grilling at home, there's no reason to spend too much on food this summer. For home cooking, be sure you're enrolled in the rewards program for your local grocery stores, and clip any digital coupons offered through that system. A lot of grocery stores have a website or an app where you can preview deals before you shop.
In addition:
- Make a list of what you want to get at the grocery store. Sticking to the list can help you avoid impulse buys.
- If you're eating out, consider splitting a meal or just having an appetizer as your meal to save money.
- A picnic might also be fun and is often a less-expensive option if you do your grocery shopping in a smart way.
Off the beaten path. Instead of going to the most popular beach destination, try going off the beaten path a little bit. You may find a less crowded hidden gem just five miles down the road.
- If you're heading somewhere new, do some research. Using Google for "hidden gems near ____". Try to avoid the peak weekends (like that last weekend before school starts), when prices might be higher.
- Check local travel websites for reviews and tips from previous travelers. The Visitor's Center website for your destination often has coupons for local attractions, too.
- While ocean-front properties may be nice, prices will drop for a place just a couple of blocks inland.
- If you're staying for a few days, you should try to stay somewhere with a kitchen so you can keep a few grocery store staples on hand. You can save money on drinks and snacks that way, and also eat breakfast at home.
We also encourage you to start saving for next year's vacation this summer! CommonWealth One has special club savings accounts. If you divert just $50 per paycheck to a vacation account, you'll have $1,300 saved up by this time next year to use!
We hope you make the most of the rest of your summer and have fun!
