Summer is a wonderful time to relax and make fun memories with your family, but toward the end of summer, vacations, entertainment, and back-to-school expenses can leave your wallet pretty empty. Although you may find yourself with less cash during this back-to-school time, it can also be a great time to implement new saving habits to start preparing for the holidays, adding to your nest egg, or saving for your next vacation. To give you that extra boost in reaching your goals, we’ve compiled five money-saving tips to help you build your savings as you go into the school year:
- Opt for free entertainment such as outdoor concerts, free museum days, and outdoor movie showings.
- Plan do-it-yourself activities for home repairs and projects rather than hiring expensive professionals. It’s always great to learn a new skill and get the family involved in home projects!
- Save money at the gas tank by carpooling. Gas prices are notorious for reaching their peak at the end of summer. Carpooling to work or school will allow you and your co-workers or friends to save money by splitting the bill.
- Buy groceries and prepare meals at home rather than spending money on dining out. A consistent school schedule is a great time to implement new recipes and include your family in the preparation!
- Open a savings account and begin putting at least $100 in the account every month to create a saving habit for the future.