Just because you’re serious about keeping your finances in order doesn’t mean you don’t deserve a little fun. Life is just about discipline, not deprivation, so let’s get a sound plan in place and live it up this summer! Here are five tips you can use to max out your summer fun account.
1- Price Out Your Summer Plans: To come up with a savings blueprint, you’ll need to get a handle on just what your plans entail. Are you going on a family vacation? Is there a special event for which you want to go all out? Just thinking of pampering yourself? Whatever your wish, price it out now, so you know how much you need to save.
2- Keep Fun Money Separate: Fun money shouldn’t be a part of your emergency fund and definitely shouldn’t be in an account you always transfer from when the checking account gets low. Try an online account with no brick-and-mortar access to increase your chances of reaching your goal.
3- Cut Unnecessary Spending: While you save up for your fun time, it may be necessary to cut back on the things you like or want but don’t necessarily need right now. If the goal in your summer plans is worthy enough, whatever you can do without will stick out like a sore thumb as you review your budget.
4- Kick Clutter to the Curb: If you haven’t already started spring cleaning, not to worry. It’s not too late to sell items you haven’t used in over a year on Craigslist, on eBay or to your local consignment store to help pad your purse.
5- Start Charging for Your Hobby: Many of us have gifts, talents and skills that we continue to give away for free. Just because you like to do it and it comes naturally doesn’t mean you don’t deserve to be compensated. Charge a few people for what they keep asking you to do for free and you’ll fund your summer fun account in no time!
Words: Patrice C. Washington
Patrice C. Washington is the best-selling author of Real Money Answers for Every Woman: How to Win the Money Game With or Without a Man and personal finance voice of the nationally syndicated Steve Harvey Saturday Show. Visit her blog, RealMoneyAnswers.com, for practical advice on money and entrepreneurship. Follow her on Twitter @SeekWisdomPCW.