Summer is practically synonymous with a surge in social activities, travel plans and family gatherings. The days are longer and hotter, and the opportunities for our wallets to get lighter go up with the temperature. This is why it's crucial to set clear financial boundaries to navigate those sun-soaked months without breaking the bank or compromising your relationships.

The power of open communication

Talking about money can be awkward. However, being upfront about your financial goals with friends and family, especially when making plans, is necessary to have healthy relationships. It's not about being a buzzkill, it's about setting realistic expectations and avoiding the pressure to overspend. Even if it seems intimidating at first, these conversations help us grow, and strengthen our relationships.

Navigating tricky summer spending scenarios

Let's dive into some common summer scenarios and explore ways to save money while having a good time.

Invites to expensive experiences: the pricey vineyard getaway

Option 1: Suggest an alternative

Instead of spending your hard-earned cash on an expensive weekend at a vineyard, why not channel your inner sommelier and suggest that you host a "DIY Wine Tasting" at home? Ask each friend to bring a different bottle of wine under a certain price point, create a charcuterie board with affordable ingredients, and let the good times (and good wine) flow.

If getting away is still the priority, bring up affordable options, like a lake day, a picnic in a scenic spot or a group hike.

You could also look for free or low-cost community events, outdoor concerts and festivals to suggest to the group. Set a limit on the number of paid events you’ll attend and choose the ones you’re most excited about. 

Option 2: Set expectations and a budget

Maybe you opt to accept the invite—have an open conversation about budgets and expectations before planning the trip. Land on a destination and activities that accommodate everyone’s budget. Agree on shared expenses and how they will be split to avoid conflicts—we recommend using an expense splitting app. Be willing to compromise and choose affordable options for accommodation and dining.

If the weekend still seems too expensive for your budget, you can always join for the day to limit your expenses and still enjoy time with your friends.

Option 3: Say no

If the getaway simply doesn’t align with your financial goals and the group wants to stick to their original plans, you always have the option to politely decline. You can choose how much you want to share about the impacts on your finances and your goals. 

The summer wardrobe refresh: the need (or want) for new clothes

Option 1: Make it an experience 

Before you splurge on a new summer wardrobe, consider hosting a clothing swap with your friends. Everyone brings gently used clothing items they're no longer wearing, and you can trade and refresh your closets without spending a dime. Add to the experience with a summer playlist and DIY mocktails, if your budget allows.

Option 2: Set boundaries

Sometimes you might need to replace a specific item or two. Align your spending with your financial goals by creating a budget for summer wardrobe purchases. 

Make a list on your phone of all the pieces you’re wanting to buy. Now, separate them into needs and wants. Prioritize the need-to-have pieces over the nice-to-have pieces.

Option 3: Source second hand

Once you’ve landed on what you need, take a look at what’s available used before you make a new purchase. Depop, Poshmark and Facebook Marketplace could have what you’re looking for. Clothes swapping apps like Lucky Sweater could also be a great way to switch things up without spending.

Option 4: Make the most of your closet

Have nothing to wear? Maybe a perspective shift could change that. There are a few apps and tools that allow you to catalogue the clothing you own, create outfits and even work with a stylist to give you fresh takes on what you already have.

Dining out: endless patio hopping

Option 1: Trade patios for picnics

Rather than emptying your wallet at crowded restaurants, embrace the spirit of summer and organize a "picnic hop" in a local park. Each friend brings a different dish (inspired by your favourite dining spots perhaps?), and you can hop from blanket to blanket, enjoying a variety of flavours and conversations under the sun. Make it BYOB or have each blanket feature a beverage of choice.

Option 2: Commit to an evening out

Whether it’s every two weeks or once a month, set a dedicated day in your calendar to enjoy being out with friends. This way you still get to enjoy the atmosphere and experience while staying within your means.

Wedding season: travel, gifts and outfits

Option 1: Get creative with attire

Instead of buying a new outfit for each wedding, check out online rental options or borrow from a friend. Try building parameters for yourself before justifying a new outfit. For example, if you can rewear an outfit, go for it. 

Option 2: Explore alternative gifting

Buying from a registry can get expensive. Explore ways you can offer your time or talents to the couple for or after their wedding, whether through photography, music, floral design, cooking, baking, crafting or another skill. You could also pool with other guests to purchase a group gift. 

Option 3: Plan ahead

Set a budget for each wedding and stick to it. Be empowered to maintain your boundaries and explain why you’re saying “no” when needed.

Feel the freedom to create memories this summer—not accumulate debt. By setting clear boundaries, communicating openly and embracing creativity, you can have a fun and fulfilling summer without sacrificing your financial goals.