How to save more money this summer

The advent of summer is usually met with sunny holidays, long evenings in beer gardens and a whole new wardrobe to make sure the inevitable Instagram pictures are all on point. This post will give you four top tips on how to save more money this summer.

It’s unlikely we’ll be jetting off abroad anytime soon and even with pubs and bars now open again in the UK, strict social distancing measures are in place, making the experience quite different.

For most people, this summer will probably be quieter than usual. However, after months of lockdown, the allure of spending is becoming more and more tempting. To help you all manage this, I thought I’d share my top summer saving tips on how to use this extra time to become more in control of your personal finances and stay in control of your budget, while still managing to treat yourself every now and then!

In this post I will cover the following:

  • The importance of still saving
  • Why you should shop local
  • The benefits of taking control of your pension
  • Whether you should consider writing a Will

It’s important to note this does not constitute financial advice and I am not a qualified financial adviser.

After months of lockdown, the temptation is there to go out and spend large sums or make lots of online purchases. Of course, it’s good to treat yourself from time to time but try not to neglect your savings while doing so. Many of us have made great progress in recent months, saving more than usual due to having less opportunities to spend – it would be a shame for all this progress to go to waste in a matter of weeks of excessive spending

1. Keep Saving

Using a simple budget each month can really help you keep saving more money as it can help you keep track of what disposable income you have left to spend. It doesn’t have to be incredibly complex, even just making a division between funds for saving and income for spending can help.

One tip I’ve found that works really well for me is transferring the total amount I want to save into my savings and investment accounts at the start of the month, then I know I can spend the money left in my current account without compromising my savings.

Everyone is different when it comes to budgeting though, so I would recommend spending some time working out the best method for you that you can reliably stick to. For different examples of budgeting techniques check out this post from Budgeting For Students.

2. Shop Local

When you do decide to make purchases, which of course you should do sometimes, why not try and shop local. So often, it’s easy to get sucked into a cycle of mindlessly scrolling and ordering from large brands online. On sites where I’ve saved my payment details, sometimes I find I’ve bought something without fully realising what I’ve done until the parcels arrive at my door the next day.

By making a conscious decision to support a smaller business you are helping to boost the local economy and making a genuine difference to local firms – one of my friends who has her own local business says she does a happy dance every time she receives an order, I’m fairly sure Jeff Bezos doesn’t do the same at Amazon!

You’re not just helping the business though; you’re also helping yourself by actively thinking more about what you buy. It is likely that this may result in you buying less, but what you do buy will be more useful and beneficial to you and you will value you it much more.

3. Take control of your pension

Even with some relaxations in the government’s guidelines, you could make the most of a quieter summer by using the extra time to check in with the parts of your finances you tend to ignore. Pensions are some of the most ignored assets, perhaps because we don’t immediately benefit from them, but they are so important for everyone in retirement.

Now could be a good time to sort through old workplace pensions and combine them into one pot so you have a clearer idea of your total savings. Having done this, if you’re not happy with the amount you’ve saved so far, you could also consider increasing your contributions into your current workplace pension or look into setting up a private pension.

If you’re interested in pensions, I’ve spoken more in depth about pensions and how they can help you save more money in this previous post.

4. Consider writing a Will

This is another topic I’ve spoken about before, but it is really important and so often neglected by people. Even if you have very little in your bank account, you still have assets to leave to your loved ones if the worst was to happen and I’m sure you’d like some say in where these assets went.

If you already have a Will, it may be worth checking it is up to date. Have you had children, got married or divorced or even bought a house since you made your Will? If the answer is yes to any of those, then it is definitely worth updating it to make sure it reflects your current situation.

The process of Will writing shouldn’t be rushed, as there’s a lot to consider. I would also recommend using a solicitor to make sure it is legally valid and therefore will be followed correctly.

If you’re worried about funding this, there are many charities, including Cancer Research UK and The Stroke Association, who offer a free Will writing service in return for a charitable donation.

I hope these summer saving tips will help you. If you found this post interesting, please like it and share across social media or send it to your friends. I’d also love to hear your thoughts and experiences, so please do leave a comment! How do you look to save more money?

49 responses to “How to save more money this summer”

  1. […] I hope you found these tips useful and it helps you to travel on a budget more easily. For more budgeting tips check out my top four summer saving tips. […]

  2. […] For more budgeting tips check out my top four summer saving tips. […]

  3. Boss Babe Chronicles Avatar
    Boss Babe Chronicles

    Thank you for all the important tips! I especially agree with supporting small businesses!

  4. I’m with you! I love supporting local businesses. Thanks for the other great tips!

  5. These are very helpful tips. Thanks for sharing this article.

  6. These are some super tips! I am really trying to save my money and make it spread out over more time so these will help!

    Amber – The Unpredicted Page

  7. Good post. Thanks

  8. Such helpful tips! I’m trying to make a conscious effort to stop mindlessly spending money on fast fashion sites and have saved so much more than expected!

    1. The Twenty Percent Avatar
      The Twenty Percent

      Thank you! I’m trying to do exactly the same and my bank balance is definitely thanking me!

  9. Great tips! I’ve actually managed to save so much money while in lockdown, it’s crazy 🙂

    1. The Twenty Percent Avatar
      The Twenty Percent

      Glad you found the post useful! 🙂

  10. Jodie Paterson Avatar
    Jodie Paterson

    Great tips, I’ve been trying to save a lot more, but not succeeding so will keep these in mind!

    1. The Twenty Percent Avatar
      The Twenty Percent

      Thanks for reading, good luck with your saving goals!

  11. Awesome tips! I am just getting decent at saving more so I will jot these tips down to do better!

    1. josephinedadeboe Avatar

      I used to have a hard time saving money Mainly because I would spend it on frivolous things like shoes and clothes. Now I have a focus on paying off my loans so all the things I used to spend them on, now goes to my loans.

      1. The Twenty Percent Avatar
        The Twenty Percent

        That’s really good that you’ve found a focus with your finances, I hope you manage to pay off your loans soon!

    2. The Twenty Percent Avatar
      The Twenty Percent

      Glad you found them useful!

  12. lifestyleseason Avatar

    Great tips! Thank you for the advice! I am trying to save what I can at the moment!

    1. The Twenty Percent Avatar
      The Twenty Percent

      Thank you, glad the tips were helpful!

  13. These are some really great tips. I’ve definitely been making a conscious effort to shop from small businesses where I can. Some of the larger companies have treated their staff appallingly over the last couple of months and I certainly won’t be shopping with them again.

    1. The Twenty Percent Avatar
      The Twenty Percent

      I agree, I’ve made a list of larger shops I’m not planning on using again and instead will support smaller businesses!

  14. Elizabeth Hartley Avatar
    Elizabeth Hartley

    I have been saving so much during lockdown and I am trying to set up so I can continue budgeting and saving lots going forward! Such a helpful post!

    1. The Twenty Percent Avatar
      The Twenty Percent

      Really glad you enjoyed it, good luck with all your saving!

  15. Oh god I need to write a will 😱😱 I am stuck in gran canaria and no tourists here right now .. thank you for the tips! Defo handy and gives me a kick up the butt to do a will xx

    1. The Twenty Percent Avatar
      The Twenty Percent

      Hope everything is ok in Gran Canaria! Couldn’t recommend Wills enough, hope you get on well with it!

      1. I will get on to it xx

  16. middleagefanclub Avatar

    Some really good advice here. I really need to look at my pension and bank accounts. Looking again at our wills would make sense too.

    1. The Twenty Percent Avatar
      The Twenty Percent

      Glad you enjoyed the post, hope looking at your accounts proves useful!

  17. Mohammad Aayan Avatar
    Mohammad Aayan

    Summer Plan with less cost seems terrible, but we should have a summer plan

  18. travelogged_135 Avatar

    Great post to help people save and learn about investing money on the right things! Thank you for sharing!

    1. The Twenty Percent Avatar
      The Twenty Percent

      Glad you enjoyed it, hope you found the tips helpful!

  19. JoJo’s Cup of Mocha Avatar
    JoJo’s Cup of Mocha

    Such a great and helpful post!

    1. The Twenty Percent Avatar
      The Twenty Percent

      Glad you liked it!

  20. I couldn’t agree more about the importance of keeping up with savings during summer. For some people this lockdown has been a blessing as there’s been less social outings to spend on, but for others (like me, unfortunately) it has still wreaked havoc on my bank account as I’ve been doing a lot of online shopping to pass the time.

    Roni ♥

    1. The Twenty Percent Avatar
      The Twenty Percent

      Thank you for reading! I totally agree about online shopping- it’s just too tempting at the moment!

  21. Such a great post!

    I really suck at saving and have really struggled with it in lockdown as amazon is just a click away! I am really going to try this month though

    1. The Twenty Percent Avatar
      The Twenty Percent

      Glad you enjoyed the post, good luck with your saving goals!

  22. Baby Boomer Super Saver Avatar
    Baby Boomer Super Saver

    These tips are great for all ages! Some of us have gotten behind in saving for retirement, but it’s not too late to catch-up by taking some strategic actions! Setting up automatic deposits into savings is a great idea!

  23. The Life of Clara Avatar
    The Life of Clara

    These are such good ideas! I really need to think about a private pension too ☺️. Thanks for sharing!

  24. survivethekidz Avatar

    Great tips! It’s so important for young people to learn about money.

    1. The Twenty Percent Avatar
      The Twenty Percent

      Thank you, glad you found it useful!

  25. Savvy Cali Girl Avatar
    Savvy Cali Girl

    Some really suggestions. Trusts are important in California. In that way, you avoid a lot of court fees.

    On saving, one thing we did was always use our tax return for 1/2 family vacation and 1/2 emergency fund.

  26. I’m still hoping I can get a trip in towards the end of the year depending on how certain countries recover from this. But I think still saving and working on your finances if you have spare income at this time is a great idea x


    1. The Twenty Percent Avatar
      The Twenty Percent

      Fingers crossed you’ll be able to get away somewhere!

  27. Unwanted Life Avatar
    Unwanted Life

    I wouldn’t go away on holiday this year even if you paid me. Just not worth the risk. I’m happy to wait until the pandemic is completely over. In the means time I’ll keep supporting local businesses when I can and shop local

    1. The Twenty Percent Avatar
      The Twenty Percent

      I’m the same- there’s no way I’d go abroad this year, but I do love supporting local businesses!

  28. These are great ideas! I like item #2 where you save money at the beginning of the month. I do something similar and have a percentage of each paycheck automatically go to my savings. It’s so reassuring to know I’m saving and to not even notice since it’s never in my checking account. Thanks for sharing!

  29. Boomer EcoCrusader Avatar
    Boomer EcoCrusader

    Great tips to help people get on top of their finances. With all this time on our hands, there are no excuses!

    1. The Twenty Percent Avatar
      The Twenty Percent

      I know, I’m trying to practice what I preach and get properly on top of mine!

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