Covid-19 income Savings and Investments

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?

By The Twenty Percent

Hi I'm Katie and I use my blog to help young people take control of their personal finances.

49 replies on “How to save more money this summer”

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

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

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!

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

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.

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

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

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

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

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

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 ♥

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

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!

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.

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


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

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

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!

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

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

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