Budgeting Tips to Save Up for and Fund Dream Your Summer

09 November 2020

Summer Budgeting Tips

Budgeting Tips to Save Up for and Fund Dream Your Summer

Enjoying your best summer and taking a much needed summer holiday is so important for your health and wellbeing, especially after the year 2020 has been (yay, it is almost over guys)! Whether you are planning to go to a festival, visit family, travel locally, explore somewhere in New Zealand you have never been before, or you are planning to go further afield, a fun summer break is what everyone needs to end this year.

Your summer holiday is a time to get away from work for a while, to relax and unwind, and to enjoy doing the things you love doing. There’s one snag – money! You need to make sure you have the funds you need to enjoy your time, with zero money stress!

Summer holidays are expensive, so you need to have a plan and a budget, and you need to save up for your dream summer. Our summer saving tips are here to help...

Set a Short-Term Saving Goal

It’s important to set savings goals, whatever you want to save for, so this makes it to the top of our list of summer money-saving tips.

A summer holiday is a short-term savings goal. So, decide how much you will need and set yourself a target. Remember to factor in the cost of the trip, spending money, and funds for the unexpected as well as your regular outgoings. Don’t stretch yourself too thin and end up in a bad situation. It’s important to stay on top of your finances and any repayments you have to avoid damaging your credit score. Do you want to learn more about what your credit score is? Check out our article on ‘How To Build My Credit Score

Find Ways to Save - Where There’s a Will There’s a Way!

Even when you think you can't, there are ways to save.

Yep, even when you run close to or into your overdraft every month, you can still find a way to save, but it will take some work and sacrifice.

It’s about setting priorities. If a summer holiday is high on your list, use the tips below to save even when you think it’s not possible.

Stop Buying Cups of Coffee

Okay, that fancy coffee from your favourite coffee shop tastes nice, but do you really need it?...

Do the sums – you’ll be surprised by how much you can save by cutting your coffee shop coffee from your life and making your own instead. An added bonus!?... it’s better for the planet, too!

Make Your Own Food

Bring a packed lunch to work rather than buying it on the go, eat out less at restaurants, and order fewer takeaways… we know it's hard, but having the extra cash will be worth it! Plus, when you do go out it will be a real treat!

Replace these things with cooking more. You’ll save money, it’s healthier, and you might even find you enjoy it! Is there a MasterChef in the house!?

Limit Impulse Purchases

If there is one thing you remember from this list of summer savings tips, make it this one.

Impulse buys are a sure-fire way to eat into your potential savings and could see you heading to the local campsite for a few days in summer rather than the lavish trip you are planning (not that there's anything wrong with local campsites! Camping could be a great option if you are saving for a longer term financial goal!).

So, wait at least 24 hours when you feel an impulse to buy. In fact, wait even longer. Your impulse to buy is likely to have disappeared if you wait, say, a month before making the purchase. How much do you really want or need that item!?

Thinking twice before using services like LayBuy is also beneficial, as you still must pay when you use these services. That money you are paying through LayBuy could be money that goes towards your summer holiday.

Get on Your Bike... Or Walk

To give you more money to save for your summer holiday, ditch the car whenever you can. Cycle or walk to work instead of driving, for example, as well as cutting down on driving more generally.

For the sake of summer savings, make 2020 the year you use the car less and become more active. Another added bonus, it is great for your health!

Cancel Subscriptions or Memberships You Don't Use or Really Need

  • Streaming services – do you really need them all?
  • Gym membership – exercise at home or in the great outdoors.
  • Sky TV – if you had to choose between Sky TV and going on your dream holiday, which would you go for?
  • Online services – online storage you don’t use, services you don’t really need, etc.

Create Weekly Meal Plans

Many of us scramble about and decide what we are going to have for dinner sometime in the afternoon... sound familiar?

It’s a common way of planning meals, but it’s also the most expensive. By creating weekly meal plans and then shopping accordingly, you will save some serious $.

Do Leisure Activities that Are Free

You know the saying – some of the best things in life are free. It’s true. You don’t need to spend loads of money all the time. Go to the beach, take walks in the bush, head to a natural beauty spot, go to free art exhibitions, take up a new hobby to keep you busy, etc. You will find heaps of free things to do online and through your local community centres!

Open a Separate Bank Account

Keep your holiday savings away from the money you use for day to day spending by setting up a separate bank account. It will help you avoid the temptation of dipping into your summer savings if things get a little tough.

You can also automate saving, setting up a certain amount to be transferred every payday into your savings account, so it's one less thing to think about. Automatic savings for the win! There are also apps you can use that round-up purchases you make so you can save the change. This all adds up and counts towards that savings goal.

Pay Bills on Time

All of us would prefer to save money rather than having to spend it on late fees, so do everything you can to pay your bills on time every month. Your credit score will thank you too!

Consolidate Your Debt

By combining debt from multiple lenders and credit cards into one loan, you will probably be able to save on your interest payments. This should give you more money to put towards your summer holiday. Do you have multiple loans that you want to consolidate? Check out your options and how it works by reading our article ‘What Is Debt Consolidation?’.

Start Saving

Okay, this might sound simple, but there are so many excuses we are all guilty of making that means we put off starting to save.

For example, there is this expense or that expense coming up in the next month, so I’ll wait before I start saving for my summer holiday.

Forget all that – just get started. Even if it’s a small amount, the act of starting is important and you will feel the accomplishment of a new beginning!

Bonus Tip – Keep Track of Your Progress

To round off this list of summer savings tips, make sure you keep track of your progress. This will ensure you are on schedule to have the money you need for your summer holiday, when you need it. A cause for celebration!


Looking for summer long weekend inspo? Check out ‘9 Ideas You’ll Love For Your Long Weekend Plans’.