Summer can bring plenty of opportunities for fun, but it certainly comes with its financial challenges, too.
With holidays, day trips, and rising costs like energy bills during heatwaves, keeping your budget in check is essential.
Here are some practical steps to help you manage your finances this season, plus resources to make the most of available support.
1. Keep cool without breaking the bank
Managing energy costs isn’t just for winter. During hot weather, small changes can make a big difference to your summer bills:
Use fans wisely: A fan costs far less than air conditioning, but remember to turn it off when you leave the room.
Block out the heat: Close curtains or blinds during the hottest part of the day to keep rooms cooler.
Take a break from the oven: Summer is the perfect time for salads, BBQs, and no-cook meals, which save on energy costs.
Unplug appliances: Devices on standby still use power, so unplugging them can help reduce your electricity bill.
2.Plan affordable summer outings
Enjoying summer doesn’t have to come with a hefty price tag. Here’s how to make the most of the season without overspending:
Explore local free events: Parks, museums, and community centres often host free or low-cost events.
Pack snacks: Bringing your own food and drinks on day trips can save a lot over the summer.
Use loyalty cards and discounts: Check for discounts or rewards through supermarket apps or local businesses.
3. Keep holiday spending in check
Summer holidays can be a big expense, but a little planning goes a long way:
Book early or go last-minute: Early bookings often offer great deals, while last-minute offers can be a win for flexible travellers.
Staycations: Explore what’s on your doorstep to save on travel and accommodation costs.
Set a holiday budget: Decide how much you can afford to spend on travel, accommodation, and activities, and stick to it.
4. Review your benefits
Many people miss out on benefits they’re eligible for. Use our Benefits Calculator to quickly check if you’re entitled to support with childcare, housing, or other costs. It’s easy to use and could make a big difference to your monthly budget.
5. Make saving a summer habit
If you’re able to save, summer is a great time to build your financial resilience:
- Start small: Setting aside even a few pounds each week can add up over time.
- Consider Saver Plus: Our Saver Plus account offers a 5% interest rate (variable), helping you grow your savings faster while keeping them safe.
- Plan ahead: Start saving now for future expenses, like Christmas or next summer’s holiday.
6. Get ahead on big expenses
Use some down time to plan for upcoming costs:
- Review subscriptions: Cancel services you’re not using to free up funds.
- Tackle school costs early: Look for sales and second-hand options to save on back-to-school expenses.
- Build an emergency fund: Start with what you can manage; even a small cushion can make a big difference.
7. Explore our Member Hub
Our Knowledge Hub is packed with tools and resources to help you manage your finances, no matter the season. From budgeting advice to money-saving tips, you’ll find everything you need to stretch your budget further.
Remember, we’re here to help
At The Money Co-op, we understand that summer can bring its own financial challenges. Whether you’re looking for savings options, budgeting tools, or support with managing your membership, our team is always here to help. Reach out to us for a chat—we’d love to help you make the most of your money.
Enjoy your summer while staying in control of your finances!
