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Supercharge Your Savings: End-of-Summer Saving Tips


As summer starts winding down, it’s a great time to reflect on your financial goals and boost your savings. Whether you’re saving for a vacation, preparing for upcoming expenses or building a nest egg, implementing smart strategies before summer fades can set you up for financial success. Let’s take a look at some end-of-summer saving tips to help supercharge your savings.

Review and adjust your budget 

Take a close look at your budget and assess your spending habits. Identify areas where you can cut back or find more affordable alternatives. Consider trimming non-essential expenses like dining out, unused or unnecessary  subscriptions and impulse purchases. Allocate your saved funds toward your short- and long-term savings goals. With the new season approaching, plan your budget accordingly, accounting for upcoming expenses, like cold-weather wardrobe essentials, increased heating costs and school supplies, as necessary. 

Optimize your energy usage

With the weather gradually cooling, it’s a perfect time to ensure you’re optimizing your energy consumption. Utilize natural light whenever possible. If you haven’t already made the switch, change to energy-efficient LED bulbs. Unplug electronics when not in use to minimize vampire energy usage and consider investing in smart power strips that cut power to idle devices. These small changes can lead to big energy bill savings, leaving you with extra cash to put into savings.

Take advantage of end-of-season sales

The turn of a season is always rife with big sales and items retailing at bargain prices. If you’ve been eyeing a new set of patio furniture, or you’ve been drooling over a new grill, this is the time to buy without draining your wallet. As summer takes its final bow, look for discounted warm-weather clothing, outdoor furniture and equipment, gardening tools and more. You can enjoy these steals for the rest of the season and/or put them away for next year. Stocking up on essentials for less will free up more of your cash for savings. 

Take a financial fast

Mild-weathered summer is the perfect season for free or low-cost entertainment options. Keep one weekend, or longer, completely spend-free. Meals are whatever you can throw together using the contents of your fridge, freezer and pantry. Activities can include visiting local parks, hitting a scenic trail or an organized game night with friends. You can also check community calendars for free events, like concerts or outdoor movie screenings. By embracing cost-effective options, you can enjoy the season without compromising on your savings goals.

Automate your savings 

Consider automating your savings to make it super-easy. Set up an automatic monthly transfer from your checking account to a designated savings account This way, a portion of your income will automatically be set aside for savings without any actual effort on your part. If your employer offers direct deposit, split your paycheck so a portion goes directly into your savings account. By automating your savings, you’ll be less tempted to spend that money, and it will steadily grow over time.

Open a Vacation Club Account

The end of summer is a great time to start thinking about next year’s summer getaway. Consider opening a Vacation Club Account at Mutual Security Credit Union at this time. This is a type of savings account for the account holder to make regular contributions toward a set goal. These accounts are designed to help the holder save up for vacation [or similar big goal] expenses. By spreading the cost of a large, seasonal expense throughout the year, you’ll have an easier time saving the full amount by next summer. Also, you likely won’t be able to withdraw your funds until a specific date or sum of money has been reached. This makes it harder to use your vacation funds for another purpose. 

Summer may be fading, but it’s not too late to boost your savings this time of year. Follow the tips outlined here for end-of-season savings.

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