Planning for Summer: Small Changes to Help You Save

Whether you’re planning a vacation, eyeing up a new vehicle or just getting ready for some warm-weather fun, now is the time to start saving for summer. With a little bit of budgeting and few tiny tweaks to your spending, you’ll be banking the big bucks in no time.  

Split Groceries With Friends 

We all know cooking at home is significantly cheaper than eating out or ordering deliver—but stocking your cupboards still requires a sizeable amount of money, and many people are reluctant to purchase produce which may go bad. One option is splitting groceries with one or more other households. Collaborating on grocery shopping means you can buy in bulk, saving everyone money on fruits and vegetables, dry goods, and other household necessities.  

Leave the Car at Home 

Gas prices tend to rise along with the temperature, which can make a significant dent in your summer savings goals. To counteract the impact of higher fuel prices, make a commitment to walk, bike or take public transportation as much as possible. Or, get in touch with friends, neighbors and coworkers to organize a carpool scheme. You may find that saving money via less driving has the additional benefit of adding more exercise and more opportunities to socialize into your life.  

Do a Summer Gear Swap 

From frisbees to sun loungers to barbecue tongs, the cost of summertime gear adds up fast! This year, skip the spending at big box stores, do a little spring cleaning, and hold a summer gear swap. All you need is a location to host the event and a few posters (hung up around town and on local social media forums) to get people involved. Most swaps are “bring what you can, take what you need,” and unwanted items can be donated to a secondhand store after the event.  

Cancel Subscriptions  

Subscriptions can bleed your summer budget dry—and you might not even know your money is missing! Get on top of subscription spending by listing every subscription you belong to. Cancel any you haven’t used in the past month; you can always restart them later. In terms of entertainment subscriptions, consider subscribing to just one service per month, and switching every thirty days. That way you can access your favorite content on rotation, while significantly cutting your spending.  

Visit the Library 

For free summertime fun as well as summertime savings, there’s no place like the library. With a library card, you can read thousands of books; connect to free online movie, TV and music collections; and check out board games and puzzles. Many libraries also lend out tools, craft materials, garden seeds and lots more, plus they may host free classes, events and clothing swaps. Pay a visit to your local library branch to see what summertime savings you may discover.  

Know Your Borrowing Options 

If you need extra funds this summer, it pays to be aware of your various borrowing options. Harvard FCU offers a Vacation Loan with APR as low as 8.74%, as well as a range of credit cards so you can earn bonus points and cash back on purchases. On the other hand, if home improvements are on your summertime agenda, Harvard FCU can help you make the most of your home equity with a Home Equity Loan or Home Equity Line of Credit, both of which may offer a lower interest rate compared to traditional credit options.