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Summer is here, bringing all the fun that comes with months of warm weather and hours of daylight. As you plan your summer season itinerary, however, you might discover you’re juggling more expenses than just a trip to the beach.
For parents, there’s the cost of day camp or other child care. At home, you might be cranking up the air conditioner more often. Even that short beach trip can be costly after paying for gas, food and maybe a souvenir.
Unexpected summer expenses can impact your budget if you’re not careful. Common summer-specific costs to be aware of as you make your budget include:
Saving for summer
Knowing your savings timeline is key. Think about when you’ll need to start saving for summer costs and put aside extra money as early as possible, if you have that option. Also, consider making a special budget for summer that includes some of the expenses listed above that apply to your lifestyle. Some budget suggestions include:
Doing the planning ahead of time and knowing what costs you’ll face to adjust your budget accordingly can help you enjoy your summer plans without worrying about how you’ll afford them.
For more saving tips, visit chase.com/personal/financial-goals/budget .
Finances FYI is presented by JP Morgan.
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