Summer is a great time of the year and typically that means opening up the wallet a little more, taking it down to the last penny to get every last ounce of fun in while the weather is warm, the kids are out of school, and make great memories. While you may be a little more liberal in spending money that may throw your budget out of whack, there are just certain purchases that you avoid making, as the peak prices hit and you end up paying more than you should. In order to not have your bank account taken advantage of, these six purchases can be avoided in the summer and are better spent the remainder of the year when more reasonable, and affordable for that matter.
Having the Wedding of your Dreams
Not that I’m advocating not getting married, but unless you have an unlimited wedding budget, it may be better to shop around the other months, instead of, say, a June wedding that fills up at venues a year or two in advance. Unless you have a special time of the year that you have always wanted to get married, typically it has been a girl’s dream to have a summer wedding, which is why vendors have no need to give any discount during this time. If you were to wait until November or even a winter celebration, you could have significant savings to book the band instead of a DJ, or opt for the premium bar.
Filling Up at the Pump
Short of being a holiday weekend, gas will reach its peak during the summer months as more travelers hit the road to go to the lake, out of state, or even a cross-country tour. This makes a stay-cation all the more desirable when you can relax in the backyard, or if you are fortunate enough to have in-laws with a pool, you can, like me, take advantage of their backyard which seems like a vacation in itself. If you are looking for a road trip, maybe it’s best to keep it close within an hour or two.
Planning a Vacation
Speaking of planning a vacation, we recently were looking for lakefront rentals in August for a birthday celebration, and quickly moved on to plan B when it came to party planning. The weekend in the summer at its peak is an understatement, and beyond ridiculous in that I could plan a trip to Las Vegas, with air and lodging being the same price as chipping in on a waterfront place, less the spending money of course, but still it’s the principle, and rates are outrageous if you want to travel in the summer.
Sure, we all want new clothes to show off, from bathing suits, to sunglasses, to even shirts and shorts, but we know there are not any sales going on until the end of the season, and even if you do stock up on new clothes this summer, there was nothing wrong with wearing last year’s bathing suit a few times this summer, no one will ever know. For guys, plain crew/or V-neck t-shirts are the style with shorts, which are inexpensive and no one will know the difference between a Target brand or a high-end, so why waste money on name-brand.
A New Car
With prices typically peaking in June, until you start to see the “clearance event” would be a good time to look into buying or leasing a new car because you know dealers are starting to make way for the new models and push out any remaining of last year’s that are still sitting on the lot. Much like anything else you buy, you wouldn’t try and buy without a coupon or being on sale, so the same should go with buying a car, which will most likely be your second highest monthly expense, behind a mortgage.
Even Worse, Buying a House
While we are on the subject of a mortgage, the goal is obviously to sell high and buy low, but with supply and demand showing that there are limited houses on the market, you will need to wait until summer purchase season is over and start looking in the winter, because you know, especially if the seller has kids, must be pretty motivated to sell during a school year, so that could mean buying at a reasonable rate, although the same goes for your house, you may miss out on a buyer’s market keeping your selling price low as well.