Although the “January spend” is the time that most affects our pockets, getting that credit card bill in after the Christmas break is always a dread as like most we forget how much we’ve actually spent! However the “back to school” or as we refer to going back to work after the summer, it is not far behind.
Summer is for all of us a time to enjoy, travel and relax even in these uncertain times, but when we return home, we notice how our economy may have suffered after some excesses, and we still have to face new expenses.
Therefore, we want to offer you a series of tips so that the return to the routine is not so painful.
Book your vacation in advance
To avoid that the summer taking its toll on us in September, it is advisable to plan our vacations in advance and have saved the money that we want to spend during this period. As many of us would have had holidays cancelled trying to plan something of a break is difficult but we all need to spend time away from work and relax and recharge ourselves.
Booking our destination in advance, both the flight and the accommodation will allow us to obtain even discounts that our pockets will appreciate.
Try to get ahead with the purchases of school supplies
One of the biggest expenses that some families have to face is related to going back to school. Books, uniforms and school supplies are essential purchases to face the course, but also painful for our pockets.
Therefore, so that the blow is less painful, we can advance certain purchases and not wait until September and they accumulate at the last minute.
Invent a method of saving in summer
We all know that in these months between trips, the accepted social gatherings and self distancing get togethers, it is very difficult to save, especialy in these uncertain times so we do not propose anything excessively hard.
Many of us over the last months of lockdown have seen our expenditure drop as we haven’t been able to go shopping, travel, entertain, etc and this has without us realising saved us money albeit enforced. So, at the end of the summer we will have obtained a small amount that can be useful.
Check your income / expense ratio
Summer is about an extra spending period compared to the rest of the year. However, our income does not vary. Since increasing our income can be difficult, we may need to cut certain expendable expenses during this time to avoid overbalancing the income / expense ratio during this time of year.