Why you should to spend and save this summer

Do you feel like you start to spend more money when the sun starts shining? You’re not alone.

 

A recent study by the personal finance app Money Dashboard looked at data from more than 150,000 users and discovered people start spending more when the spring weather warms up.

 

This follows a study from credit report provider Noddle that showed 57 per cent of British people spend more money in the summer months. The study stated that people are typically spending £154 more a month in the summer.

 

So why is this happening? Quite simply, it’s because there is a lot more stuff to do in the summer, people are spending more time out of their homes and therefore are much more likely to loosen their purse strings.

 

Here are some tips on how to ensure that you don’t overspend over the coming weeks:

 

Take advantage of free activities. We all want to get out the house and enjoy the sunshine, but that doesn’t mean that you always have to spend money in order to enjoy the warmth. There are plenty of free activities happening right on your doorstep – have a read of our previous blog post to see some fun stuff that you could do in Worksop, Retford and Harworth.

 

Make yourself a weekly budget and be strict! Take a look at your finances, see how much money you have to spare and decide how much you want to spend a week. Ensure that you can stretch your money to have enough for each week until your next pay day, and above all make sure that you’re not overspending more than your budget says to!

 

Another great way to save money on your food bills is to find some new recipes and learn how to cook instead of buying microwave meals or expensive takeaways. You’ll be surprised how much money you can save by buying fresh ingredients once a week and cooking at home!

 

If you need anymore advice on budgeting money, then you can always speak to someone at the New Roots office, or give them a call. There is always someone on hand to support you!