Summer planning season is upon us, with many already making plans for road trips, beach getaways, and festivals, or time with out-of-state relatives. But while the season brings opportunities for fun, it can also lead to financial stress if you’re not intentional.
According to a recent survey, nearly 9 in 10 summer travelers (85%) plan to use a credit card to cover some travel expenses. However, 30% of 2024 summer travelers who used credit cards to pay for related expenses still haven’t paid them off.
Airfare, gas, eating out, and entertainment can easily strain your budget if you’re not prepared. That’s why having a summer spending strategy is just as important as packing sunscreen.
Start by mapping out your income and expected expenses for the season. Create a specific summer budget that includes:
As a general guideline, you can use the 50/30/20 rule to guide your summer planning:
List all the things you’d like to do this summer—then narrow it down by priority and budget. By planning this way, you focus your funds on what matters most—whether it’s a family reunion, camping trip, or season pass to a theme park. Ask yourself:
If you’re planning with others, have everyone rank their top 3 must-do activities to keep costs aligned with group priorities.
You don’t need to spend big to have a great time. Many cities offer free summer programming, especially for kids and families. Subscribe to local event calendars or check the websites of nearby libraries, rec centers, or tourism bureaus. Look for free summer activities in your area like:
If your summer plans include traveling, one of the easiest ways to cut costs is to stay with people you know. This can save hundreds—if not thousands—on hotels or vacation rentals. Plus, you’ll often get:
Consider a home swap with a friend or through an app to save on lodging expenses while you explore another city.
Before you hit “purchase” on any activity or event ticket, look for coupons and promo codes. Planning a group activity? Group ticket rates are often cheaper per person. Here are a handful of popular discount sources:
Spontaneity is fun—but expensive. Prices on flights, hotels, and even car rentals can surge at the last minute. Use tools like Google Flights, Hopper, or Skyscanner to track the best times to buy. Planning ahead allows you to:
Summer is the season for budget-friendly food hacks. If you’re vacationing, choose lodging with a kitchen or kitchenette to save on dining out. Use a cooler with ice packs to keep meals fresh for road trips or beach days.
A staycation lets you relax and recharge without leaving your city—or racking up debt. They can offer a refreshing—and more affordable—alternative to traditional vacations. Here are a few ideas for a memorable local getaway:
Using cash instead of credit can make you more mindful of how much you’re spending.
Once you set your budget, withdraw the amount you plan to spend by category (food, gas, activities) and use envelopes to separate it. This keeps you from accidentally going over budget—and avoids the dreaded credit card bill later.
Summer should be a time to relax, not worry about your finances. With the right planning and tools, you can enjoy all the fun the season has to offer—without overspending or building debt. Need help organizing your summer finances or setting a plan you can stick to? GreenPath offers: