School’s Out for Summer
3 Tips To Keep Your Finances In Order This Summer
School’s out for summer which means vacations, outings, and camps for kids = $$$. So that you don’t end the summer having spent more than you expected, below are some tips to plan and budget your activities.
Plan out the entire summer by creating a weekly calendar. List all activities and trips by inputting the expected costs. This will not only outline how you’ll be spending money, but it will also show your weekly cash burn rate. The results of this budget may cause you to reconsider your plans for less expensive options.
While I’d love to hit the beaches of Hawaii, travel to Paris, or send my kids to weekly educational camps, I have limited resources and I assume you do too. Therefore, create a list of all the activities you want to do this summer, including their costs, and prioritize them to ensure you don’t over schedule your kids AND overspend.
Hit the road for a family road trip. With gas prices as low as they are, there is no better time than now to take the family on a road trip. Far away plane trips sound exotic, but we sometimes forget that the U.S. has a lot to offer from our national parks to our beautiful beaches.
I hope you have a wonderful summer with your friends and family. Be sure to wear lots of sunblock and keep a close eye on your spending, after all, back to school shopping and the holiday shopping are just around the corner.
ACap Asset Management, Inc. is a “Fee-Only” investment management firm headquartered in Los Angeles, CA specializing in helping doctors and healthcare professionals make sound financial decisions.
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