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Lesko: Keep Your Summer Budget in Check

By Fox 40 Staff.
Jason: The summer fun season begins this Memorial Day weekend. Greg Lesko of Lesko Financial has some advice to keep from busting the budget.

Greg: Thanks Jason. Late Spring and early Summer bring vacations and lots of leisure activities, so it's easy to over-spend without even realizing it. But a little bit of planning now can help you make the most of the upcoming weeks without going broke.

The first step is to get a handle on your current finances--income and expenses--and decide how much is available for fun.

Maybe you can trim some expenses such as eating out or entertainment over the next few weeks and reallocate those funds towards your summer plans instead.

Jason: How do you keep the urge to spend under control?

Greg: Create a summer spending budget. Very few people do this, but it doesn't have to be overly complicated. A basic plan with all the extra activities and purchases you're likely to have over the next couple of months will do.

If you're going on vacation, decide in advance how much you'll spend on lodging, eating out, shopping and recreation, instead of falling prey to impulse spending. Maybe you can use cash or a debit card instead of overloading your credit cards.

Jason: Any other summer money tips?

Greg: Summer is a great time to hold a garage or yard sale to get rid of clutter while making a few extra bucks. And you don’t have to spend a lot to have a good time. Get the whole family involved in brainstorming budget-friendly activities. That way everyone will be working together to keep expenses down.