Afford the Summer of Your Dreams by Building a Budget

To have fun in the sun without getting financially burned, set up a budget for now and later.
Aysia MortonJul 15, 2021

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As concerts, vacations and social gatherings resume, it can be easy to overspend on summer fun, especially coming off of a year of quarantine.

Creating a budget for summertime and beyond can help you keep track of your money, says certified financial planner Jason Dall'Acqua, president of Crest Wealth Advisors, based in Annapolis, Maryland. Dall'Acqua advises doing three things to prepare for building a budget.

Once you've prepped for your budget, it's time to create it. Dall'Acqua suggests four steps to create a budget:

Choose a budgeting method that works best for you. The 50/30/20 method is great because you break down your budget into percentages, and it’s easy to follow and track, says Bola Sokunbi, CEO of Clever Girl Finance. You contribute 50% of your income to needs, 30% to wants and 20% to your savings once you follow the steps above. To build your budget, you can use a simple Microsoft Excel spreadsheet, or a and with more features.

Revisit these steps and tweak your budget as needed — Dall'Acqua recommends at least one to two times a year. Even if your budget isn’t where you want it to be, don’t be discouraged. Sokunbi says it's most important to do your best to save a little bit extra than planned and build your emergency fund.

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