Summer Spending: Why It’s the Second Most Expensive Time of the Year
by Kaitlyn Ranze
Summertime is often thought of as the most affordable season of the year. But in reality, it’s the second most expensive time of year – after winter.
Here’s a breakdown of how summer expenses go up, and where people are spending their money.
On average, Americans spend about $600 more during the summer months than they do during the rest of the year. The main reason for this is because people travel more in the summer. According to AAA, the average family spends about $1,145 on vacation during the summer. That’s a significant increase from the $935 that families spend on vacation during the rest of the year.
But travel isn’t the only thing that people spend money on during the summer. There are also increased costs for things like food, clothing, and entertainment. For example, people tend to eat out more in the summer, which can add up quickly. And with warmer weather comes the need for new clothes, like shorts, swimsuits, and sandals.
A new study from the National Retail Federation sheds some light on these questions, revealing that summer spending trends vary depending on the type of retail space.
For example, department store spending typically decreases during the summer months, while spending at outdoor retailers and apparel stores increases. This may be due to the fact that people are more likely to travel and take part in outdoor activities during the summer, resulting in a need for new clothes and gear.
Discount stores are also a popular destination for summer spending, as people look to save money on items like pool toys, beach gear, and barbecue supplies.
So what can we do to save money during the summer? Here are a few tips and tricks:
– Travel during off-peak times: If you’re planning a summer vacation, try to travel during the off-peak season. This can help you save money on airfare, lodging and other travel costs.
– Take advantage of free activities: There are many ways to enjoy the summer without spending a lot of money. Take advantage of free or discounted activities in your area, such as concerts, festivals and museums.
– Shop around for deals: Be sure to comparison shop before making any big purchases. This is especially important for items like air conditioners and other summer essentials.
– Eat at home: Dining out can be expensive, so try to eat at home as much as possible. If you do go out, look for restaurants that offer discounts or special promotions.
By following these tips, you can help keep your summer spending under control. So enjoy the warm weather and have fun, without breaking the bank!