Why Parents Should Save for Summer Now

Summer is coming. You know it. We know it. And your kids? They’ve probably been counting down the days since January. But while they are dreaming about pool afternoons and popsicles, you get to worry about funding camps, vacations, and all the extra snacks the kiddos will inevitably devour.

Let’s face it, summer can really sneak up on your wallet. From camp registration deadlines to unexpected vacation costs, it’s easy to feel overwhelmed. But don’t panic! With a little planning and the right tools from Academy Bank, you can save without breaking a sweat. Keep reading to learn how to save money for summer.

Why Do I Need to Start Saving for Summer Now?

Popular summer camps often fill up months in advance, and they are not cheap. On top of registration fees, you will need to budget for transportation, lunches, gear, and supplies—all of which can quickly add up.

Even if camps aren’t part of your plans, summer vacations can add major financial pressure, too. Forgotten costs such as dining out, car rentals, or amusement park tickets can turn a simple weekend getaway into a costly endeavor!

The most frightening part? Everyday summer activities can drain your wallet too. We are talking about pool passes and art supplies. Luckily, you have options! A little planning and saving now can help you avoid any financial surprises later.

Best Ways to Save Money for Summer

Want to save money without overhauling your lifestyle? Academy Bank has useful tools and tips to help you grow your summer savings effortlessly.

1. Set Aside a Portion of Your Paycheck

The smartest way to save? Pay yourself first! You have likely heard of direct deposit, but did you know you can divide your paycheck into multiple accounts? Redirect some of your paycheck to a separate savings account specifically for summer savings. Out of sight, out of mind!

Academy Bank’s savings accounts make it easy to keep your summer funds safe and growing until you are ready to use them. Check out our money market or standard savings account options.

2. Use a Round-Up Savings Program

Small efforts can make a big impact! Round-up savings programs like Savings Cents let you round every debit card purchase to the nearest $1 to $5 increment, automatically depositing the spare change into a savings account.

For example, if you buy lunch for $9.50, the extra $0.50 is deposited into your savings. Over weeks and months, this effortless process ensures you are growing your savings without a second thought.

3. Adjust Spending Habits

Sometimes, the quickest way to save means cutting back on less essential spending. For example, bringing your own lunch to work just three times a week could lead to significant savings over a few months.

Use Academy Bank's Lunch Savings Calculator to see how packing your own meals a few times a week could grow your savings. Spoiler alert: it’s way more than you think! Simply enter the price of takeout lunches versus homemade meals and learn how much you could be saving for summer.

4. Re-evaluate Your Monthly Budget

Too many streaming subscriptions? Unused gym memberships? Track where your money is going and identify areas to cut back. Use Academy Bank’s Monthly Budget Calculator to get a clear picture of your spending. You will be amazed by how much money you can save with just a little fine-tuning.

You can even click “View Report” to get a detailed breakdown and actionable suggestions for reallocating funds toward your summer savings goals.

Academy Bank is Your Summer Saving Buddy

Summer is about fun, relaxation, and making memories—not stressing over finances. By starting to save now with Academy Bank’s helpful tools and programs, you will be ready to tackle those summer adventures without hesitation.

• Compare Your Savings Account Options: From standard savings accounts¹ to money market accounts,² we offer a variety of solutions tailored to meet your needs.
• Automatic Savings: Use our Saving Cents Program³ to make saving as easy as spending. Turn every trip to the grocery store into an opportunity to grow your summer fund.
• Use Our Financial Calculators: Whether you want to calculate your lunch savings, map out your summer budget, or set a specific savings goal, our suite of financial calculators has your back.

Ready to make the most of your summer? Visit our website or swing by a local banking center to get started!

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