Woman with flower in hair lying outside in hammock.

5 steps to summer savings

It's the first day of summer! Between the backyard barbeques, days at the beach, and summer vacations -- the average vacation expense per person in the United States is $1,145 -- it's also the perfect opportunity to give your finances a fresh start and set your seasonal savings goal. 

Make a plan to save money, reduce debt, and build wealth. So when it’s time to pay for that day trip to the amusement park, you’re not taking on more debt, or squeezing another budget category.

It all starts when you set a goal and make a plan to reach that goal, because those with a plan are twice as likely to save successfully. So let’s get started.

Step 1: Set a goal

What are you saving for this summer? Here are some ideas to get you started:

Step 2: Make a pledge to yourself to save

Deciding what to save for is the easy part. Not it’s time to really commit so that you are able to meet your summer savings goals. That’s where we can help you.

Our America Saves pledge is designed to help you save money and reduce debt by thinking through your goals, and how much you want to save. Whether you are saving for a family camping trip, a 4th of July barbeque, or a day at the beach with your best friends, our pledge can help you save.

But it doesn’t stop there. After you pledge to save, we keep you motivated with information, advice, tips, and savings reminders to help you reach your goal. Think of us as your own personal support system.

Ready to get started? Click here to make a commitment to yourself today by taking the pledge.

Step 3: Create a budget

One of the first things you need to do to save more efficiently is to keep track of what you spend with a budget. There are many different ways to do this, so you’ll want to try a few out and choose the system that works best for you. The key to saving more successfully is to find a system that works for you and to stick with it through the entire summer.

We can help with that too. Click here to learn how to create a budget and to download our budget worksheet for first time budgeters.

Step 4: Save automatically

The easiest and most effective way to save is automatically. This is how millions of employees save for retirement through 401(k)s and other programs at work. It is also how millions of Americans save at their bank or credit union. Not only does it ensure you will be saving every month, but it also puts your cash out of sight and out of mind so you feel less of an urge to spend it. It also helps if you keep your savings in a separate bank from your checking account, or at least an account you don’t have easy access to.

Learn how to set up automatic savings.

Step 5: Find more money to save

Learn how to cut back on summer spending so you can save some cash and put it in your savings account instead. When you take the America Saves pledge, we’ll send savings tips and advice straight to you.

Jumpstart your savings by entering to win $100 in our #NationalSelfieDay contest through Friday, June 23. Enter to win here

In the meantime, check out these steps for saving for a summer getaway.

Pledge to Save This Summer


Summer is here! 5 easy steps to get a fresh financial start this season >> http://bit.ly/2ttpZUC v/ @AmericaSaves
Tweet this now

Take the Pledge

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

Take the America Saves Pledge

Tip of the Day

  • Written by Tammy G. Bruzon | January 16, 2017

    Your #taxrefund will continue to grow if you put it into savings or retirement http://bit.ly/2hZ6s8A @AmericaSaves

Saver Stories View all »

Coping with a Lost Job

Written by Katie Bryan | October 28, 2013

Aimee Shaffer worked as a Public Service News Director for radio for years until one day her employer downsized the company, resulting in hundreds of lost jobs, including Aimee’s.

Read more...

Developing a Savings "Game Plan"

Written by Katie Bryan | October 28, 2013

Eunice Diaz, a teacher in Colorado Springs, had been noticing a pattern. Despite the fact that she and her husband were “making good money,” they were spending their entire earnings and “were still struggling at the end of the month.”

Read more...

Getting Out of Debt

Written by Katie Bryan | October 28, 2013

In 2004, Tonya Shelton was facing financial ruin. Barely making more than minimum wage and having lost her home to an unexpected family crisis, Shelton and her family were forced to live in a rundown hotel.

Read more...

Receive Updates

Sign up for Texts

Written by Tammy G. Bruzon | July 15, 2014

Sign Up

Sign up for Emails

Written by Super User | September 16, 2013

Get Emails

Take the Pledge

Written by Super User | September 16, 2013

Start Saving