Summer is officially here and while you might be planning that summer vacation or enjoying some time off, it’s also a great time to save some money. Reducing your weekly expenses by scaling back on luxuries or being smarter with grocery shopping only goes so far. When you want to save a larger sum of money over the course of three to four months, you’ll need to make some other, bigger decisions in the saving and spending department. Making plans to save money now can put you on track to reach your financial goals well before summer’s end.
Here are a few smart ways to save some money this summer:
Rent Out Your Home for the Summer
If you have a large home in a desirable location, consider renting it out for the entire summer and staying with friends, relatives, or a more affordable vacation home for the entire season. Renting out your space and moving away for a while can give you a break from your usual environment and also help you save money. It’s also the perfect excuse to hit the road to visit family and friends you haven’t seen in a while. Take some time off work or find a low-cost place to live temporarily while you continue working.
When you have some vacation time to use up, swap your home and enjoy a mini-vacation. This can be a less expensive alternative to renting out a vacation home while still paying rent or mortgage on your current property. Home swapping is also a fun way to meet new people and try something new. Think of towns and cities where you’ve never been before so it truly feels like a real vacation. Just make sure you do your homework when it comes to researching candidates interested in the home swap, and have done the legwork to ensure your home will be in good hands.
Volunteer with a Nonprofit Organization
You could spend a portion of your summer volunteering with a nonprofit organization and enjoy a paid vacation while getting some experience in your field. Many nonprofits and community organizations sponsor volunteers to handle projects in different parts of the country or even overseas. They will pay for your room, board, and other travel-related expenses in exchange for your hard work.
Scale Back on Household Expenses While You’re Away
Don’t forget to disconnect the cable, Internet, and put other services on “hold” when you’re going to be away for a few months. This will help you trim some monthly costs and will also be less wasteful. Just make sure you’re aware of any reconnection fees and other fees that might apply so you’re not paying more than just leaving the service as is.