Enjoy the summer without losing sight of your finances

After a long wait, spring has finally arrived. The days are getting longer and your summer plans are starting to take shape. Holidays, outings, outdoor activities, landscaping, renovations… summer comes with its share of cravings and, occasionally, with expenses that aren’t always top of mind.

Thinking about your financial choices, anticipating certain expenses and adjusting your budget before summer officially begins can make managing your finances throughout the season easier. The idea isn’t to plan your summer down to the last detail but, rather, to get a bit of a head start on summer in order to avoid the unexpected costs.

Here are some things you can do to get your finances in order before the summer begins.

Budgeting for your summer expenses: its worth it for the peace of mind

Summers often come with their share of expenses that aren’t top of mind. Just think of all the things kids lose at day camp and need to be replaced, or the small purchases and costs that add up over the weeks. Even if you don’t have major plans, these expenses can quickly add up.

The good news is that even though May has already underway, it’s not too late to take action. Updating your budget or setting aside money to cover these costs can help you manage them throughout the summer. Budget tables are available from the AMF to support your budgeting efforts.

Plan your summer

No break from managing credit

Credit can be a helpful tool when dealing with unexpected situations, provided you use it wisely and can access it when needed.

With summer holidays on the horizon, take a moment to review your situation. Have you been making only the minimum payment for the past several months? Are you having trouble lowering your credit utilization ratio? Rather than considering a credit limit increase or applying for new credit, it may be worth focusing on reducing your balances now. This can help limit interest costs and give you more flexibility to deal with unexpected expenses over the summer.

Want assistance in getting started or figuring out what you need to do? A wealth of resources are available to support you. Feel free to ask for help.

Estimate the time needed to pay your debts

Enjoy the summer… without letting your finances melt away

Spontaneous outings, simple pleasures, impulse purchases… there is no shortage of opportunities to spend money during the summer months.

Your kids are craving a sundae? Why not buy the ingredients at the supermarket and make it into a fun activity you can do at home? Staying on budget can also be enjoyable.

The goal isn’t to go without, but to look at your expenses from a new perspective so you can make more informed choices.

And why not use the final weeks before the summer to give your expenses a good spring cleaning and set aside the savings. This way, you’ll be able to enjoy those little summer indulgences that are hard to resist.

Discover ideas to help you reduce your expenses

Need information
or assistance?

We’re here for you!

Fraud prevention
Insurance
Investments
Personal finances
Financial mistreatment prevention
Mortgage brokerage

1 877 525-0337
Call back feature
Book an appointment

Autorité des marchés financiers
Place de la Cité, tour PwC
2640, boulevard Laurier, bureau 400, Québec (Qc) G1V 5C1