Are your finances ready for summer?

Summertime is on its way, but be prepared for the cash injection you’ll need for the season. With outside fun comes more expenses with activities and don’t forget that Christmas is rearing its little head.

Here are some smart ways to save during this adventurous time of year and if you need a little help along the way, Border Bank is here.

Saving water = saving money

If you live in a part of Australia that has droughts, which is a large portion of Australia, then spending money on water is a big part of summer expenditure. Fixing leaky taps around the house is the first step in saving money and precious water during the sunny season.

According to Nature Australia, leaky taps can waste nearly 20,000 litres of water every year from just one house. That is a huge amount of water wastage and it doesn’t do any favours to your water bill.

The Nature Conservancy also suggests that you invest in a water saving shower head to save water and money. The Australian Government released stats about Water Efficiency Labelling and Standards (WELS) and showed that a normal shower head uses 15 – 25 litres of water per minute, whereas a three star water efficient showerhead will use 6 – 7 litres per minute.

Power down to keep costs down

Try and switch off your unnecessary power sources to save on your electricity bills.

However, just because you aren’t turning on heaters during the day, doesn’t mean that power won’t go onto heating the pool or other hot weather appliances. The trick is not to forget about those and to use them wisely when it comes time to cool down.

Outdoor activities

Summertime brings road trips, amusement parks and more adventurous activities. Roy Morgan reports that over 700,000 Australians visit amusement parks every year, so if you’re one of those park enthusiasts then buying in bulk can save you a lot of money. With a quick scan on the internet you can book great deals for groups or specific day options.

Want to save money when going to a music festival? Tone Deaf suggests a couple of ways you can get in before the prices surge:

  • Buy tickets early. Put alerts on your phone and calendar to when pre-sale tickets are available and sign up to the ticket website to get their newsletter,
  • Also consider how many days you really need at the festival. If it is spread across several days, you can pick or choose the best days and only pay for a day ticket,
  • Camp as much as humanly possible,
  • It is not always possible but try and bring as much as you can. Water, alcohol and food can be incredibly expensive, so if you are permitted, BYO.

Travel Insurance

With summer comes travel and so it is key to get travel insurance. You may tend to think that is not high on the vacation priority list but it may save you stress and money in the future. If flights get cancelled or plans go astray you are covered for any mishaps for along the way.

Summertime brings out the big adventures but also the big money. Make sure you have saved enough for any flights, adventures and insurance on those adventures.

To make sure your finances don’t melt with the summer sun, prepare for the extra activities with a savings account or personal loan with Border Bank.