How To Budget Your Money This Summer
Summer can be the most expensive time of the year, even though most people expect it to be winter.
This is because summer is sneaky. On top of standard monthly expenses, there are plenty of smaller ones that usually pop up during summer and drain our wallets before we manage to catch ourselves.
In other words, summer tends to have us overspend. Be it larger expenses like going crazy on a vacation, or smaller ones like regular hangouts with friends, our paychecks tend to disappear in between our fingers before we manage to give all our spending a second thought.
So how do you avoid overspending in summer? Simple – you figure out how to budget your money for the summer before it starts.
Tips To Learn How To Budget Your Money
How To Budget For Standard Expenses
If you want to learn how to budget your money, it starts with regular expenses. The first line of expense you’ll be budgeting for are the standard inflexible expenses like rent, debt, utilities, and so on. Then come the “flexible” necessities like groceries, gas, and so on. And after that’s done, you can take a good look at what’s left of your paycheck and get onto the rest.
How To Budget Your Money For Small Summer Expenses
Summer comes with certain expenses most of us tend to anticipate; we know that A/C will rack up the electricity bill, for example.
But there are certain hidden expenses we tend to forget about, and that may be losing us the money. For example, did you know that having the A/C filters cleaned or changed could bring down the overall bill?
And there are plenty of other small expenses that pop up and catch us off guard like graduation gifts for kids, friends’ weddings, increased phone bills, or even more eating out. Here’s how to budget your money for all that:
- Pool as much money away from other expenses as possible;
- Start the summer sinking fund. Just put that money in one large sinking fund to dip into when an expense or another turns out to be larger than anticipated;
- If possible, separate anticipated events – like weddings or birthdays – and budget for them separately.
Budget Your Money For A Summer Vacation
Of course, you have to know how to budget your money for any summer vacations you have planned. There are two rules to budgeting for a summer vacation:
- Start early. You will need more than a few paychecks to cover any type of trip that lasts more than a couple of days;
- Never pay full price. Put in the time and always compare prices with several companies.
Ideally, your summer vacation sinking fund should be getting contributions all year round. Taking away just a bit out of your paycheck every payday is going to be much easier and your sinking fund will be much better funded by the time summer comes.
Budget Your Money For Savings
You have to know how to budget your money for savings, but this can also be a bit complicated. Ideally, you should continue contributing to your standard savings same as before. But if any of the aforementioned expenses can’t be funded without you dipping into other budget funds, you might have to either lessen or put your savings on hold altogether.
If your emergency fund already has at least 2-3 months’ worth of expenses saved up, this shouldn’t be a problem. If not, do try to strike a balance between funding sinking funds and making contributions to the emergency fund – even if they’re smaller than before.
How To Budget Your Money For Unanticipated Expenses
We all go through emergencies. This is why an emergency fund is so important. If it’s already up and going, your emergencies are automatically budgeted for.
If not, you may either need to figure out what you’ll be giving up for the summer or, if you don’t have any sinking funds yet, you might need to resort to getting additional debt through things like a loan. In the latter case, you might want to look into getting title loans in Nevada.
Get Title Loans In Nevada For Emergency Help
Getting title loans in Nevada could be a viable option for those who need quick cash for emergencies. This loan uses your vehicle’s lien-free title as collateral for a lump sum of cash – which could be anything up to $15,000.
This loan won’t help you build your savings or erase your debt; title loans in Nevada are short-term financial help. But it will help with things like medical bills, late utility bills, or emergency travel. Plus, you can qualify for approval even if you have poor or no credit. And you can keep your vehicle as long as you are sticking to the repayment schedule.
How To Get Title Loans In Nevada
Our process at Nevada Title and Payday Loans, Inc. is simple. All you need to start is to submit an online form on the website. You’ll get a call from a loan representative at the nearest title loans location who’ll explain the process and answer any questions you might have.
Take the items the loan representative requests – your state-issued ID or driver’s license, your vehicle, and its lien-free title in your name – to the meeting they set up at the title loans in Nevada store. The loan representative will inspect your vehicle to determine how much you could get and then assess all your items to determine if you qualify.
If you do qualify for approval for title loans in Nevada, we will go over our loan terms with you and help you finish the simple paperwork. Once everything is complete, you can get the money right there.
Start Budgeting Your Money This Summer, Today!
The key to a nice summer is to know how to budget your money. There are many tips out there to help you keep a good financial balance while you are enjoying your summer. And if an emergency gets in the way of your budgeting, turn to title loans in Nevada for help. Fill out the online form to get started.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.