May can be a season of pure chaos with all the transitions from spring to summer and old to new. Don’t forget these top 8 items most commonly missed when doing the May budget. And if you’re a lucky winner of the extra paycheck this month, make sure you spend it with intention!
1) Mother’s Day - Don’t forget to celebrate mom! It doesn’t need to be anything radical, just let her know how much you appreciate her. Actions mean more than gifts if you’re on a tight budget. Go spend the day with you mom and make it something special!
2) Graduations - Think pre-school, kindergarten, middle school, high school, college, etc. The list goes on and on for how it could possibly affect your budget if you have someone close to you in this position. The Automatic Millionaire and The Graduate’s Survival Guide both make excellent gifts for graduates.
3) Memorial Day - Keep in mind if you have extra travel costs associated with the holiday, groceries, food, opening of a home pool or general expenses for celebrations.
4) Summer Camp - Registrations are open and make sure you’re ready with the deposit for May at the minimum, but you can also start saving for the full amount due if you have a little extra room in your budget this month.
5) Gardening - Whether you like to grow plants or vegetables, gardening can be as cheap or expensive as you make it. Be sure to set aside some money in your budget for necessary items if this is on your honey-do list for May. Planting a vegetable garden now can be a great way to save all summer long!
6) Vacations - This is the time of year that your dreams start going wild with summer vacation plans. It’s not too late, you can still save up and pay for the vacation before it happens! If it’s not in your budget or part of your goals to do a full week vacation, you can still budget in for some small 3 day getaways and keep it frugal. Check out listings on Airbnb, Groupon and Living Social to see where you can save.
7) Wedding Season - The love boat is setting sail! It’s time to start looking at who’s 'save the dates’ you have or what RSVP’s you put on your calendar already and make some plans. Some people can get inundated with invitations to weddings and it can be a huge hit to your budget if you’re not careful. Start saving early if you have multiple or they’ll require travel, hotels or new clothes.
8) Entertainment - There’s something about the warmer weather that makes you want to get out there and be social! Theme parks are opening up, it’s fun to go to the zoo and other outdoor places that you need to make sure your budget is prepared for. Don’t forget to also check out your city’s local listings for fun and free festivals to add to your calendar to help even out the budget.
Whatever your summer plans are, tell your money where it’s going, don’t let your money and summer happen to you. It’s all about living with intentionality!
By creating a spending plan before the month begins, you’ll feel more in control of your money and you’ll have more left over at the end of the month! If you’re still not sure how to get started, click here to set up your FREE introductory coaching session to see how I can help!