Summer Money Leaks!

According to U.S. News and World Report (Perez 2016), whether you are traveling by car, train or plane, pack snacks. This is an often overlooked and expensive money leak that can drain your dollars before you even arrive at your destination. Skip the airline food or multiple stops on the road and pack healthy treats like nuts, granola, crackers or fruit to keep you budget savvy and energized.

One of the biggest culprits of summer money leaks is our own home. There are several energy-savingtips and tricks that will keep the family cool while keeping costs down. Before cranking up the air conditioning, allow cooler air from the morning or night to flow into your home. Keep the blinds closed during the day to help your home stay cooler.  When possible, avoid using heat-producing appliances such as dishwashers, washing machines and ovens during peak times (2-8 p.m.). Consider using cold water in your laundry when possible and air-dry clothes to reduce electricity use. 

Instead of dining out, eat-in.  No reservations required. No closing time. Host a happy hour at your house and invite everyone to bring their favorite beverage. Start a dinner club where friends rotate hosting dinner, brunch or a barbecue

Whether it’s camps, trips to the mall, movies with friends or back-to-school shopping, summer spending can add up quickly. Track your spending with personal finance apps to help you understand how and where you are spending. This will also help you budget and plan accordingly for next summer. 

In short, watch the summer money leaks that can ruin your summer plans and blow out your budget.  Avoid the leaks by paying attention to the small things and adjust accordingly. 

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