Five Ways to Cut Spending this Summer

Let’s face it, saving can be difficult. Whether it’s an exotic vacation or a technology upgrade, summer can be a tempting time to spend your hard earned cash on a new experience. To help you stay on track, here are a few simple ways to cut your spending this summer.

1. Have a summer staycation.

Adopt a new perspective of your area and plan a weekend to play tourist in your area. Check the visitors section of your state or city’s website for local attractions, events, and even discounts.

2. Hit the library.

The library is a great source of free information and often hosts local events to promote reading and literacy. Check your local library’s website for more information. Live too far to go to the library? Many libraries now offer free eBooks and audio books for loan through their website or on a mobile app using your library card. No matter how you access it, knowledge is power!

3. Buy used.

You would be amazed at how much you can save by buying gently used items. Second-hand stores and yard sales or even online marketplaces like Amazon, Craigslist, and eBay might just have what you’re looking for at a fraction of the original price.

4. Take your workouts outside.

The sun is shining, the grass is green and it’s a great time of year to save on gym memberships using the great outdoors as your gym. Even if you only use the summer and summer months to enjoy exercising in the great outdoors, you could save about $420 on gym membership costs. Look up city trails and parks in your area for a scenic workout.

5. Embrace leftovers.

Cooking and packing your meals at home can help you save a large amount of your hard earned money. Plan and shop for foods that can be made in bulk so that you can put some of your dinner away for future lunches.
Pro-tip: Including a small Ziploc bag of “extras” (spices, toppings, etc.) can help recapture some of the original flavor of the meal.

Planning for the Future

Cutting down on your expenses can help put you on the right track to meeting more of your long-term savings goals including saving for retirement. GEICO FCU’s mobile app helps you along the way by allowing you to track purchases and transactions made from your account. You can also check your credit card balance at any time, locate a branch or network ATM, or pay off a card as needed. Planning for your financial future has never been simpler.