Dear Piggy Bank,

It’s most of the way through July and we’re going to blow our summer budget if we’re not careful. How do we stay on track during the summer? The kids are out of school, we’re taking some holidays, there are bbq’s and less hours at work?

Simmering Summer Budget

Dear Simmering Summer Budget,

It can be challenging to finish out the summer on budget. There is so much to do! It sounds like one or both of you are self-employed or work variable hours which reduces household income.

Even though we’re almost half way through summer, it doesn’t hurt to make a simple budget to cover the rest of the summer. Here’s the simplified version – jot down #1, 2, 3 and 4:

1. Income (after tax amounts)?
2. Fixed and/or ‘needs’ expenses (rent or mortgage, food, transportation, debt repayment, savings)?
3. Summer plans (already made)?
4. Summer plans (would like to do)?
5. Add #2 and #3, subtract from #1. What’s left? Allocate the remainder to #4.

Community centres, parks, libraries, local businesses and city funded events are often sources of fun and reasonable activities to keep all ages entertained. Shopping on sale, including trips and excursions is a great way to do more expensive activities at reduced rates.

Dear Piggy Bank