We’ve started this series to help people sort out and analyze their financial status as we already passed the first half of 2018. Summer is almost here and it is a good time to see where you are at with your New Year’s resolutions. Particularly in regards to your budget, resolutions can be really challenging to achieve. But if you follow a few basic tips, you can make it easier to keep up your finances as you planned.

Listed below, and in the previous articles with the same title, are some fast personal finance tips you can use daily this summer to make it easy reaching your goals before the end of 2018. To read the previous articles, you can click here: Mid-Year Personal Finance Tips 1 or here: Mid-Year Personal Finance Tips 2

Check your credit report

Your credit report determines your credit score which is a numeric representation of your trustworthiness in the eyes of financial institutions, so you want to make sure that there are no errors. Most of the banks provide a credit report without an extra charge but also you can get your credit report for free from all three major credit bureaus by visiting AnnualCreditReport.com

Set up notifications and alerts

Spending five minutes on setting up alerts for bank account and card balances can help you prevent missed payments, overdraft charges, and other costly mistakes. You can easily get on top of your finances by registering for push notifications, text or email alerts for your checking accounts, credit cards, lease payments, and personal loan status, etc.

Have a no-spend day

Occasionally spending and impulse buys can easily become a habit and having a break on spending money may help to restrain on excessive spending. If you commit to spending no money for only 1 day per week, depending on how much you generally spend you can save anywhere from a few dollars to a lot more. This is a great method to hit the reset button and then reevaluate your spending habits.

Get rid of the items you no longer need

As the summer is approaching, it is the perfect time to purge your wardrobe and garage. You can sell almost everything online on different local trade platforms. Sell the clothes which are way large for you after losing weight for the summer, sell that video game which you played during rain seasons or sell the personal foot heater you no longer need. It is so easy to make some extra money by selling the stuff you don’t want anymore. Just snap a pic, post a description and voila, it is sold in minutes. You can use this extra money to pay off your debt or you can use it for a vacation trip.

Start saving for the holidays today

You might not be able to afford the vacation you deserve this summer and probably you are wondering how can you save money for the next year. Indeed, this is exactly why you should start saving ASAP, like today. For example, if you put $100 aside each month, by the next year June, you will have $1,200 in your account to spend on vacation expenses. Also, you can use a portion of this money for a beautiful Christmas vacation with your family. Seems a better idea rather than going into debt, right?

 

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