Financial Tips

Don’t Take a Vacation from your Budget this Summer

As we swim into the summer season, don’t let your finances take a dive. Now is a good time to review your current budget and set a summer budget. Creating a summer budget can help you keep your spending in check and maintain your financial sanity come fall.

As the weather warms up, we tend to spend more money on things like weekends at the beach, outdoor brunches and daytrips. Plus, we have a tendency to forget that our budgeted expenses generally increase over the summer months – it costs more to fill up your car with gas and both water and electric bills tend to increase.

Below are some helpful tips so you can relax in your beach chair and avoid pinching pennies come fall.

  • If you are taking a vacation this summer, start setting money aside from each paycheck with an automatic transfer to a savings account to use as spending money for the trip. This will reduce the need to use credit cards and keep you on track for fall.
  • Review your prior year expenses so you can prepare for the seasonal increases to utilities and other household expenses. Contact your utility companies and ask if they offer a flat rate plan. This can spread power, heating and cooling costs across 12 equal monthly payments, eliminating spikes on your bill.
  • With children home for the summer, they may spend their days raiding the fridge. Teach your kids to cook, pack lunches for work or summer camp, and make your iced coffee at home. This can help free up money for alfresco dinners without throwing you off budget.
  • Use technology – track your spending through your bank’s mobile app, download apps that locate money savings near you such as the Allpoint surcharge-free ATM locator, a cheap gas app and a social outing discount app that can get you discounts on restaurants, museums and more summer fun.
  • Leave your debit and credit cards at home and utilize a mobile wallet. This is an easy-to-use, mobile payment solution. Simply link your debit or credit card for a faster and more secure way to pay
  • Track how much your expenses climb in this summer so you can prepare for next year by setting aside a portion of each paycheck in the cooler months for a summer fund.

By taking the time to review your budget as we head into summer, you will be setting yourself up for success this fall and the holiday season that soon follows. Remember that Univest is here to help you stay on track all year long contact us today at 877-723-5571.


Univest Bank and Trust Co. is Member FDIC.