25 Ways to Get Your Finances Back on Track This Summer

Want to get your finances back on track this summer? Here’s 25 ways to save or make more money that will help you reach your goals this year.

Summer is just a few short weeks away. I love this time of year because it usually means a family vacation or two. You may not be going on a trip, but you may have kids home from school or other activities that’ll keep you busy, and perhaps not focused on your goals. You may have started the year off with the goal to get your finances back on track. Whether it was to attack debt, start saving for retirement or making extra money you had noble goals in mind.

Then something happened. Life got busy and your goals fell by the wayside.

If that describes you, I know it’s tempting to throw in the towel. Don’t! You’re only doing yourself a disservice. I know it may feel like you can’t or won’t make any noticeable progress. I know it may feel like the summer is too busy or you don’t know where to start.

There’s a problem with all of those thoughts; they’re excuses that will hold you back from the kind of life you want, free from the worry of money problems. If you want to get your finances back on track this summer it is possible.

You simply need to take a step in the right direction. No, you won’t achieve financial independence overnight, and you shouldn’t expect to. The point is to get started because one step will turn into many taking you to the kind of life you want. Not each option below will apply to your situation and that’s okay.

That being said, following even a few of them will help you build the momentum you need. Below are some ways to get your finances on track this summer and hit your goals this year.

Budgeting and Debt


Start Tracking Your Spending

I’m not talking about the “B” word here. Budgets may not work for everyone, and that’s fine. However, there is immense power in knowing where your money is going every month – without living by a true budget. That power comes by seeing how you’re spending, which reveals any changes you may need to make. There are many ways to track your spending, but I’ve found that automating it is the simplest way. Personal Capital is a free tool that allows you to do that and many other things. Open an account today and start seeing where your money goes.

Leave the credit card at home

Does having a credit card in your wallet tempt you to spend money you don’t have? There’s a simple solution – leave the credit card at home and stop racking up debt.

Consolidate your credit card debt

If you have credit card debt you know just how suffocating the interest can be. According to Bankrate, the average APR on a variable rate card is almost 16 percent – and many are significantly higher than that. Assuming you’ve cut the behavior that led to the credit card debt in the first place, you can save a good chunk of money by consolidating your outstanding balances into a lower rate loan. Sites like Lending Club can cut 10 percent or more and help you pay off the debt quicker.

Lower your mortgage payment

How much is your mortgage payment? Have you taken advantage of the low rates to refinance and lower your payment? If not, you may be overlooking a great opportunity. Do the math to make sure it’s right for your situation.

Take inventory

Think of this as the precursor to consolidating your credit card or student loan debt. Sit down and list out all of your debts, the interest rates, balances and minimum monthly payments to see where you stand financially. This allows you to know what you’re up against and form an effective plan of attack.

Refinance your student loans

We’ve all heard the numbers about student loans, and how their staggering amounts make it virtually impossible to make any kind of financial headway with them on your back. Check out the current rates at Credible to see how much money you can save by consolidating or refinancing your loans. Just make sure you don’t give up any valuable benefits by going this route.

Cut one bill

Find one bill and cut it. You can either do some comparison shopping to reduce a bill or you can cut a bill altogether. Find something you can live without or will be fine reducing and go after it. It can be as simple as reducing your cell phone bill by switching to Republic Wireless for as little as $10 per month or Straight Talk for as little as $35 per month or by cutting memberships you don’t use. Take the savings and use it for something that returns value.

Save Money on Food Costs


Start a meal plan

I hate food waste. We average over $500 in food waste per person, per year. That’s literally like throwing cash in the trashcan. A simple way to lower this is to start meal planning so you can shop wiser at the store. A service like $5 Meal Plan can help you come up with meal plans that everyone in your family will like and also help cut down on food waste.

Buy generic

This is a no-brainer and a great way to save money. In many instances generic is quite a bit cheaper and of similar quality. Find what you like that’s generic and put the savings towards something else in your budget.

Clean out your pantry

We saw this when we moved last month. We found food in our pantry that we didn’t know we had. Some had to be tossed; other things could still be consumed, which saved us money the next few weeks on our groceries. If this sounds like you, plan a clean out the pantry day every month or two. You’ll cut down on food waste and reduce the number of items you have to buy at the store.

Stop eating out

Eating out is fun, but it can get expensive. The average family spends at least $225 per month eating out at restaurants. That may seem like nothing, but taken over a year it comes out to $2,700 – that’s nearly half of the amount needed to max out a Roth IRA. Find a way to cut that in half, or more, and put that money to work for you, not against you.

Investing and Growing Your Money


Open an IRA

Are you currently saving for retirement or does it seem so far off that you don’t think starting now will make a difference? Don’t give into that myth. You can invest with little money, but you do need to start. There are many online brokerages out there that simplify investing for you. Some, like Betterment or Wealthfront allow you to open accounts for nothing or $500, respectively, and do much of the heavy lifting for you.

Find one way to make extra money

We hear a lot about side hustles. It’s for good reason as they can be a great way to bring in additional income. The side hustle my wife started six years ago has turned into a business and we’ve more than replaced our income as a result. There are many ways out there to make extra money – regardless of your skill level.

Make more money at your job

Side hustles are a great way to make money. However, you shouldn’t overlook the opportunity staring you in the face – and that’s at your day job. Can you volunteer for overtime? Can you volunteer to take on additional duties? Not only can that be a great way to bring in more money but you can also grow professionally.

Save your tax refund

The average tax refund is somewhere north of $3,000. How much did you get back this year? Instead of wasting it on something frivolous, use it to build your emergency fund or invest in the stock market.

Save, with a twist

How much do you spend on nonessential items each month? Make it a goal to pay yourself that amount and deposit it into your savings account at the end of the month. If you can’t afford the matching amount then you shouldn’t buy the nonessential item. Need help to start saving? Check out Simple, a free banking app that helps you identify goals to save for and how to spending keeps you from accomplishing that goal.

Have a short-term savings goal

Many struggle to save for long-term needs, or simply save for a long period of time. Instead, make a goal to save a certain amount of money each week or month. Use the momentum to build your savings and bonus points for challenging yourself to save even more – the goal, after all, is to change your behavior towards saving.



Start planning for the holidays now

Christmas may seem like a long way off, but it’s only seven months away. Do you know how you’ll afford buying gifts? If not, start putting away a little money each month now so you won’t be surprised at the end of the year.

Go without something for one month

I’m not a big fan of no spend months but I believe it’s possible to go without a non-essential item for one month. That one thing will be different for everyone and that’s ok. Find one thing that’s a luxury and see if you can go without it for one month. You may find the value is worth the cost, but you also may find a new money-saving opportunity.

Start using the 30-day rule

How often are you tempted to buy something when out shopping? It happens to all of us. Now, how often is that purchase in your budget? To kill instant gratification, leave the item at the store and sleep on it for a month. If you’ve come to the end of the month and no longer truly want the item, you’ve saved yourself money. The waiting helps you see if you really value the item enough to part with your money over it.

Get discounts through your employer

Many larger employers offer discount programs to their employees. It can range from cheaper cell phone plans to car insurance and more. We both did this before we quit our jobs and it saved us money each month on things we were already doing. There’s no sense in paying more than you have to!

Want to get your finances back on track this summer? Here’s 25 ways to save or make more money that will help you reach your goals this year.

Around the House


Sell something

How much stuff do you have lying around the house that you don’t use? When we moved last month we sold a number of items – some large and some small and made close to $400. No, it’s not a lot, but that’s extra money that can be used in our budget. You can do the same and use it to pay off debt, invest in the stock market or build up your emergency fund.

Cut cable

There’s no need for explanation on this; you can save crazy money each month by killing cable. In fact, we’re saving $80 per month after canceling DirecTV and it was a great decision.

Create a visual reminder of your debt

Are you currently paying off debt? Make yourself something visual to have around the house to keep you on track. I did something similar when I was paying off debt and it helped me when I wanted to give up. Start with the amount you currently have and draw a progress bar going to $0. Each time you throw more money at the debt you fill it in.

Fix something around the house

I’m not very good with my hands, but I learned one thing quickly when we became homeowners – it’s expensive to hire someone to fix something for you. With the amount of tutorials online you can do many things around the house and save a chunk of money in the process. I mean, really, do you want to pay someone $200 to fix something that requires a $10 part?

There are many other ways to get your finances back on track this summer. Find a few that work for you and make them work. Don’t give up because you think they won’t do anything for your finances. Each step you take will help you reach your goal of better managing your money.


What are some other ways to get your finances back on track this summer? What’s a new way you’ve found to save money recently? Do you assign savings from certain items to specific goals?

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I'm the founder of Frugal Rules, a Dad, husband and veteran of the financial services industry. I'm passionate about helping people learn from my mistakes so that they can enjoy the freedom that comes from living frugally. I'm also a freelance writer, and regularly contribute to GoBankingRates, Investopedia, Lending Tree and more. If you're wanting to learn how to monetize your blog, check out my blog coaching services to see how I can help you take your site to the next level.


  • I have this theory that everyone has to live within an allotted amount each month, some people have a larger amount and a looser budget but they still have to live within that amount unless they want to go into debt.

    So a CPA might live on $10,000/month, while a CSR might live on $2000/month. They still have to live within the amount that they earn each month. Anyway I think Personal Capital is great to track your money. I love it.

  • Great list! One way to increase our income that we overlooked for a long time was to change to a different employer. That seems to be the new protocol for growing a career. Of course you can’t do this every season but if you haven’t thought about it’s a good time to start looking.

    • John Schmoll says:

      Completely agreed Kalie. We’ve had numerous friends do this over the past several years. It doesn’t make sense that a firm would put the investment into someone and let them walk but it can turn out quite well income wise.

  • Great ideas here! I think if you can focus on finances in the summer, you are ahead of the game. People tend to spend too much during these months, in my experience!

    • John Schmoll says:

      Thanks Natalie. I’ve seen the same exact thing and then they just give up at the end of the summer because the year is over 1/2 over and the cycle just builds on itself.

  • Some fantastic ideas! I agree that I don’t typically promote no-spend months. However, as I am moving this month, I am really trying to spend less on everyday items because that’s one less thing I have to move! We are definitely eating out of the pantry this month.

  • I tracked every dollar I spent for the first time last month and it was really eye-opening. It showed me that I spend way too much money on takeout food. This month, I am definitely doing more grocery shopping and home cooking. I agree that everyone should track their expenses for at least one month to really see where his/her money is going.

    • John Schmoll says:

      Good for you Aliyyah! It really can be eye-opening, especially when you don’t stop to realize it. But, that savings is nice when you make the change.

  • This is a great list 🙂 I agree that budgets don’t work for everyone – my husband really struggles to keep to a strict budget so does a loose one x

  • Terrific list! We don’t use a set budget, but track the heck out of our expenses and gauge spending from there.

    I appreciate the reminder to start shopping for the holidays now – something I haven’t even considered but the year is flying by and that time will approach quickly!

  • I love it when I’m able to do a low-stress repair around the home. I’m not going to lie – multiple times I’ve bit off more than I can chew and it’s always stressful to call someone in and get the job done. But over the past few months I’ve replaced a part on our dishwasher and fixed our renter’s toilet. Pretty big wins if you ask me!

  • This is an awesome list John! We actually decided to sell a bunch of things from our basement and garage this summer, mostly because they are cluttering things but secondly because my son surprisingly made a premier soccer team and we hadn’t budgeted for the team fees so we thought a good way to get some cash would be to sell a number of items that now have dust on them from sitting around our house for over four years. Looking forward to the extra money but mostly the extra space. 🙂

  • Planning is really imporant as budgeting. I plan every meal and expense I do on a weekly basis. Plans are what make this journey with direction.

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