5 Ways to Save Money this Summer

Summer is right around the corner! While it brings longer days and outdoor activities, it can also bring costly expenses. From family vacations to summer activities, you may find yourself stretched thin during and after the summer season. Here are a few ways you can reduce your spending this summer:

1. Monitor your thermostat

   It may be tempting to turn the air down below 70 degrees, but this cool air could cost you. Save between 1 percent to 3 percent per degree for each degree the thermostat is set about 72 degrees. Also, if you go out of town on vacation, or are away for an extended period of time, turn up or turn off your air conditioning. This keeps the AC from running while no one is there, and will save you money.

2. Use cold water

   Whether you are showering or doing laundry, consider using cold water. For your laundry, the cold cycle will still get your clothes clean, and can save you about $60 a year. Cold showers can cool you off during these hot summer months, which can keep you from running the AC lower. They can also make you use less water, which will also save you money.

3. Turn off the lights

   It’s easy to forget to turn the lights off when you leave a room. But simply switching them off can save you a lot in the long run. Old-fashioned incandescent bulbs give off 90 percent of their energy as heat and only 10 percent as light. Keeping these lights off will result in a cooler home and a smaller bill.

4. Free Activities

   Instead of splurging on big outings, consider a free activity. Things like going to the beach, park, museum, or going on a hike are all free and fun. Enjoy the warm weather by spending time outside and enjoy saving money by going places that won’t cost you a dime.

5. Airbnb

   If you are planning on traveling this summer, consider staying at an Airbnb instead of a hotel. Airbnb is an online marketplace and hospitality service enabling people to rent short-term for vacation lodging. This alternative is typically cheaper, and sometimes, in a better location than a big hotel. Imagine staying in a downtown apartment for less than a chain hotel!

If you have any questions, please leave them in the comments section below.