5 ways to boss your Summer budget

Summer has always been a time for a new wardrobe, increased social activity and holiday breaks.  With lockdown lifting, this summer especially calls for more gatherings and reunions than ever before, but what can we do to make sure this doesn’t impact our money strategy?  Here are 5 tips to help you stay in control and boss that Summer budget.

1. Up your socialising budget

You will go out more than you have been doing in the past 12 months.  Rather than ignoring this reality – embrace it.  Up that socialising budget.  Really think about what you are doing in the pay period ahead.  Whose will have a birthday meal?  Who haven’t you caught up with over dinner for the past year?  How far afield might you travel to go out?

Remember, each pay period has a different budget – no month should be the same.  Look ahead, note down all the possible social opportunities within reason, build in a couple of extra spontaneous occasions and then budget for them.  This may make you wince, especially after being able to live on a tighter budget the past year, but there’s no point setting ourselves up to fail.  If you end up coming in under budget – bonus!

2. Review your wardrobe

Take a look at your summer clothes, those in the wardrobe already and those perhaps in a suitcase under the bed! The idea is to pull together a reliable, capsule summer wardrobe.  Think less fast fashion, more timeless classics.  Check what you have and what key pieces may be missing and build a list of specific items that would be helpful.

Next, take to the pre-loved sites such as eBay, Vinted and Depop to try and locate the look you want for less.  Better still, the clothes that don’t “spark joy” – sell on the app also and your new summer wardrobe may come in cost neutral!

An extra tip is to get family and friends to do the same – you could end up with a helpful swap shop.  If you do end up going on an overseas holiday, you should absolutely share key holiday pieces such as kaftans and beach bags between a friendship grous – there is no need to invest in beachwear that you only wear for a few days!

3. Plan #FreeFun

Try to incorporate planned free fun throughout the summer.  Think weekends, days off or midweek summer nights.  Fancy a cool unplanned G&T after work?  Have one in the garden rather than at the local pub – especially if you’re getting plenty socialising in as per point 1!   The measures are more generous and loungewear is still acceptable!

Just as we did a Winter List late in 2020, we’re going to be working with the community to build a #freefun list for summer that may help you.

4. Wear less make-up

Make-Up is expensive.  Although Financielle will be doing our best to bring you dupes, we can’t deny that your average make-up bag costs a bomb.  Try to embrace make-up free days, covered in SPF and sunglasses and save the make-up for when you really want it.

This should mean make-up should last 3-4 budget cycles as a minimum and help to keep your budget costs down.

5. Embrace Salads and Veggie Meals

Great for our bodies and great for our wallets, salads are a great summer lunch and evening meal.  Put together a staple salad store cupboard and make sure the fridge regularly has fresh ingredient and you can always throw together a salad for one or salad for many!  As you see costs decline in the food category, it helps to balance out the possible increased costs elsewhere in the budget.

The above are some simple suggestions to help inspire you to be creative with your budget, but more importantly to be realistic.  Remember, a financial wellness journey is a marathon not a sprint and this is about lifestyle change, not fast money fads.  Let’s not set ourselves up to fail: do what brings you joy, whilst having a side eye on your financial goals.