6 Sneaky Summer Expenses to Avoid

iStock_000016935539XSmallSummer is the time kick back, relax and just take things easy for a few months. While this means you may be feeling a little lax with your budget, you don’t have to waste those hard-earned dollars on frivolous purchases and expenses that can easily be avoided. Even if you aren’t tracking your spending on a daily basis, there are some things you can do to be more mindful about your spending habits and make better money decisions all season long.

Whether you’re enjoying some vacation time this summer or just working your way through those hot summer days, here are six sneaky summer expenses you can avoid.

  1. Excessive toll charges. You may be relying on your GPS to provide you with the shortest route and turn-by-turn directions to your final destination, but make sure you aren’t required to pay a lot of toll fees along the way. Consider taking an alternative route – even if the trip takes slightly longer – so you don’t end up paying extra money in toll charges on a single trip. Factor in the extra cost of gas on the alternate route if needed so you really are saving money on the total cost of that drive.
  2. Car rental insurance. If you’re planning a road trip but don’t want to put miles on your own car or you end up needing a rental car when you’re on vacation, don’t add more to the cost of your trip by purchasing rental car insurance. Almost all major credit card companies offer car rental insurance coverage as a benefit to cardholders – regardless of their balance. Check with your credit card provider to find out if it offers car rental insurance and also check with your insurance company to see if car rentals are included in your coverage. In many cases, your car insurance will provide primary coverage and the credit card will take care of secondary coverage, such as towing charges and other fees.
  3. Cost of personal items on vacation. Don’t let running out of sunscreen, bottled water or other everyday essentials put a dent in your vacation budget this season. Buying these items at a hotel, resort or retail store at a vacation hotspot can leave you paying a premium, so make sure to stock up on the essentials before you head out. Make a checklist of must-haves for the beach and beyond so you don’t spend extra money on the basics.
  4. Beach umbrella and chair rentals. Many resorts and hotels by the ocean offer beach umbrella and chair rentals for an additional fee. If you can bring your own, you could end up saving upward of $15 per day on these amenities. Call ahead to confirm that you are permitted to bring your own beach items – some larger resorts may not allow you to use anything but their own, so you can save some extra money on that overnight stay.
  5. Premium gas prices in tourist towns. If you’re heading to a major tourist city, make sure to fill up in the suburbs or anywhere outside of the main tourist zones to avoid the high price of gas. Many gas stations around tourist hubs charge a premium because they know visitors have limited options in the area. Be smart about where you fill up so you aren’t paying several cents more per gallon every time you need gas.
  6. Movie rental late fees. If you’re planning a movie marathon for a group or just binge-watching a few days during that summer vacation away, make sure you don’t get stuck with late charges and extra fees on those rentals. Only rent what you can watch that same night so you don’t fall into the trap of holding on to the movie for a few extra nights – and paying late fees. Redbox, for example, only charges $1.50 plus tax a night for most DVD rentals but will charge you the same price for every night you hold onto it. If you’re bad about returning movies on time, consider low-cost and free alternatives, such as rentals from the library or borrowing a DVD from a friend to offset some of the costs of movie night.

First Financial’s Summer Savings Account is ideal for those who are looking to save up for summer expenses or a vacation as well as employees who get paid 10 months out of the year. This account allows you to have money available for summer expenses during July and August and you have the ability to choose the amount of money you’d would like to have deposited each pay period through direct deposit or payroll deduction.*

You can elect to have your money transferred into a First Financial Checking Account in two different ways: Either 100% of funds can be transferred on July 1st, or 50% will be transferred July 1st, and the other 50% August 1st. This account can be opened at anytime – stop into any branch, or call us at 732.312.1500.

*A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. Click here to view full Rewards First program details. Accounts for children age 13 and under are excluded from this program. 

Article courtesy of US News – Money by Sabah Karimi.

Sun, Surf, and Savings: Summer Travel Inexpensively

54f0fbd48fba0_-_1-couple-vacation-tropical-lgnIt’s summer and time to enjoy the sun! Whether you’re an adventurer, a creature of habit, or planning your first big family vacation, here are some money saving tips you will want to consider.

Save Up

When planning summer travel, estimate your costs ahead of time for airfare, lodging, and expenses. Set a goal to save a portion every month toward that amount and track your progress. The closer you get, the closer that vacation is, and the more excited you and your travel companions will be!

One popular saving method is the hoarding of five-dollar bills. A Reddit user inspired many with his post and photo captioned: “For the past year, I put away every $5 bill that came into my possession. To date, I’ve saved $3,335.”

Get a Cheaper Flight

Plan ahead: Try to book your flights around three months in advance of your planned date of travel. Finding cheap last minute airfare isn’t impossible, but it’s hard to plan that way.

Low fare alerts: Pick a few destinations you want to visit and set up “low airfare” alerts at sites like Airfare Watchdog or Kayak to be notified when prices drop below your threshold. If you’re not limited to a certain destination, Kayak’s summer travel hacker can help you choose a lower-fare location.

When to buy: If a fare seems too good to be true, BUY IT. The price-prediction app Hopper, will advise you to purchase your flight now or wait because prices might drop further.

Avoid Airline Fees

Baggage fees: Avoid the long lines and $25 charge by packing light and flying only with carry-ons. Make sure your carry-on suitcase fits the dimensions permitted by your airline. Avoid stuffing the bag so full that it can’t fit into the bag-size tester. Summer travel often requires less clothing anyway, right?

To make sure you stay comfortable on the flight, a thin scarf – which looks fashionable and keeps the neck warm – can double as a light blanket. Wear your largest pair of shoes and bulkiest clothing on the flight so they won’t take up as much space in your suitcase.

If you travel to the same destination often, consider leaving some toiletries or clothing items at that person’s house.

Food and drink: Travel with an empty reusable water bottle that you fill when you get through security. Bring your own snacks and packable meals so that you don’t get tempted to charge an airline meal to your credit card. The food you pack will likely taste better, anyway. But be kind to your fellow passengers and try to avoid powerful odors like tuna or egg salad, or allergens like peanut butter.

Article courtesy of MintLife Blog by Kim Tracy Prince.

Save for Summer with a Summer Savings Account

penny%20blog%20summer-resized-600First Financial’s Summer Savings Account is ideal for employees who get paid 10 months out of the year. Members – especially teachers – particularly enjoy this Summer Savings Account because it allows them to have money available for summer expenses during July and August.

Not only does the Summer Savings Account offer competitive dividend earnings, our Members have the flexibility to choose the amount of money they would like to have deposited into their Summer Savings Account each pay period through direct deposit or payroll deduction.

The Member can elect to have their money transferred into a First Financial Checking Account in two different ways: Either 100% of funds can be transferred on July 1st, or 50% will be transferred July 1st, and the other 50% August 1st.  Funds will be easily accessible through an ATM, point-of-sale transaction with instant access debit card, online banking, or by writing a check.

This account can be opened anytime and does not require a minimum balance, just a $5 deposit in a base savings account to maintain credit union membership.*

Getting started with a Summer Savings account is simple – stop into any branch, or call us at 732.312.1500.

It’s never too late to start saving for summer! Get started today with a Summer Savings Account to make your summer more relaxing.

 *A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. Click here to view full Rewards First program details. Accounts for children age 13 and under are excluded from this program. 
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