McKee Financial

5-25-2020 Newsletter: 20 Summer Savings Tips

I’m always looking for ways to spend less and save more.  Hopefully, the article below will help us all save a little this summer.


20 Summer Savings Tips


It’s safe to say summer 2020 is going to be different than any other. “Make sure you stay at least 6 feet away from your friends in the pool, Timmy!” That is, if swimming pools are even open—who knows?

One thing we do know is that COVID-19 has changed what your typical summer would usually look like. The kids are already out of school, theme parks are shut down, and people aren’t going to be super eager to travel any time soon.

But there’s good news: This is a great time to save some money! Here are 20  money-saving tips to help you pocket some extra cash this summer. Mix and match ideas to create your own summer savings plan without sacrificing fun.


20 Ways to Take Advantage of Summer Savings


1. Trim up your entertainment budget by $100.

As things slowly start to reopen this summer, it’s going to be pretty easy to cut back on entertainment costs (after all, public gatherings might still be canceled in your area). So that will save you a lot of money right there. But when events start to pick back up where you live, make the most of the free stuff like outdoor concerts, movie-on-the-lawn nights, and free days at local museums. Set up your budget with EveryDollar to keep track of all your savings!

You can save even more by borrowing free DVDs from the public library or ditching cable and signing up for a streaming service instead of spending too much money at the movie theater. And let’s be honest, after the kind of spring we all just had, you probably aren’t exactly itching to go to a jam-packed theater anyway.  

2. Pocket $400 by skipping the theme park and visiting a natural park instead.

Again, who knows when theme parks will even open this summer. But once they do open, skipping a trip can save you major bucks. The one-day ticket price for a theme park ranges from about $50 to well over $100 (thank you, Disney). That means a family of four could pay anywhere from $200–400 for just one single day of fun. Sheesh! Keep your cash and visit a state park in the great outdoors instead. Many parks are free or only charge a small entry fee per carload.

3. Earn $100 or more by doing a garage sale.

Who doesn’t love a good garage sale? More importantly, who doesn’t love the extra $100 you make from pawning your old stuff onto complete strangers? Now’s the time to hop on that spring-cleaning train, dig through the attic, and start planning for a garage sale. Well, you know, whenever you can stand less than 6 feet away from someone again.

If you just can’t wait to sell off your stuff, host a virtual garage sale. Post the photos and prices of the items online, let people Venmo you the payment, and all you have to do is drop the (sanitized) item off on their doorstep. Try apps like VarageSale, Letgo and Facebook Marketplace if you go the virtual route. All that money you rake in could go toward your next Baby Step, like building an emergency fund or paying off debt.

4. Skip the car wash and save $60–100.

Skipping the car wash six times this summer could save you $60–100! So grab the kids, get the suds, and start cleaning your own wheels. Or, let the nice summer rain take care of the job for you once in a while. Every week that you’d usually drive through a car wash, transfer $10 into your summer savings account.

5. Save nearly 20% on energy costs by caulking your windows and doors.

Your mom was right: There’s no need to air condition the entire neighborhood by forgetting to close your windows and doors. So go a step further and seal your doors and windows. This will help your air conditioner not have to work overtime—and it just might help you save up to 20% on your energy costs!1

6. Earn $50–100 when you sell your old clothes.

Spring cleaning is in full swing! Clean out your closets and take your pre-loved threads to a consignment shop, or sell your clothes from the comfort of your own home through an online marketplace like thredUP or Poshmark. You can put the money you make toward new school clothes for your kids in the fall or just add it to your summer savings fund.

7. Take advantage of a tax-free weekend and save hundreds on big purchases.

Check to see if your state (or one near you) offers tax savings for back-to-school buys. If so, wait until the tax-free weekend to buy things like school supplies, computers and clothes. It’s pretty outrageous how much taxes can add to your total price tag. So if you can swing it, just hold off until tax-free weekend to make those big purchases.

8. Save $200–800 on camp fees by creating your own.

Give it a go and try a camp-free summer (thanks to coronavirus rules, you might have to anyway this year). A typical one-week day camp can cost anywhere from $200–800.2 Multiply that by several kids and doing more than one camp throughout the summer, and the cost adds up to a small fortune!

Instead of having a summer camp bill that rivals a year of college tuition, just organize your own “camp” for your kids. Pick a theme and start making a plan. Get inspired by this list of free stuff to do with kids from Rachel Cruze. Ask friends and family members if they’d be interested in doing a video call with your kids for story time, craft projects or exercising. If you’d rather not take on the pressure of your own day camp, sign your kids up for virtual camps from across the country. Chances are, your kids will have just as much fun as they would at an expensive camp.

9. Shop smarter to save $20–50 each week.

Before the week even starts, compare the ads from your local grocery stores and plan your meals around what’s on sale that week. Then, make a shopping list and stick to it once you get to the store. Not tossing extra items into the cart is one of the hardest parts of grocery shopping, but sticking to the list will help you save a lot!

Want to save even more on groceries? Give generic brands a try, stick to a weekly meal plan, and buy fruits and veggies that are in season from your local farmers market.

10. Use coupons.

We know what you’re thinking—coupons, really? Do coupons save you money? Yes! You just need to know how to find the right ones. Your local grocery store probably has digital coupons through their app. And there are about a million different cash-back apps out there too. They give you rebates for buying a certain brand of orange juice or tomato sauce. Then after you rack up enough rebates, you can cash them out. It’s a pretty good gig.

You can even use coupons at your favorite restaurants and fast-food joints too! Look out for 10% off coupons, kids eat free nights and buy one entrée, get one free deals. Download your favorite restaurant’s app to save even more! Don’t forget sites like Groupon and Living Social that offer you a $20 gift card for only $10 bucks. Using coupons like this can really add up.

At the end of the day, there’s still no denying that some of the best coupons come from the weekly ads in the Sunday newspaper (you know, the pile of stuff you usually toss out). So take a second and see what they’re offering before you pitch it in the garbage.

11. Save $200–300 by packing your lunch.

Making your own meals is usually healthier and way cheaper than dining out, especially in the summer when fresh fruits and vegetables are everywhere (you could even grow you own!). Instead of going out to eat every day with your buddies, try making your own lunch two or three times a week. You could save $20–30 each week, which adds up to $200–300 over the course of the summer.

12. Skip the professional repairs and do it yourself.

Plenty of online tutorials teach you the basics of do-it-yourself jobs. Before you pick up the phone and call the professionals, give it a shot and see if you can solve the problem yourself. You’ll save money and maybe even learn something new! That’s a win-win for anyone.

13. Stock up on dollar store snacks before a road trip and save $25–50.

Road trips might look a little different this summer. But no matter where you’re headed for whatever reason, you can still save some money. If you normally stop for snacks while on the road, buying them at the dollar store ahead of time will help you not buy overpriced treats from a convenience store or gas station. Grab a plastic shoebox while you’re there so you can keep all the goodies organized for the road trip (yeah, even if it’s just a Sunday drive out in the country).

14. Look for discounts on your rental car.

Another thing that might look different for you this summer? Renting a car. Don’t pay full price for a car rental this summer! Be on the lookout for deep discounts from rental companies trying to get you to hit the open road.

Install a coupon finder like Honey onto your web browser so it can automatically look for coupons based on the car rental website you’re on. You could score a savings of 5–10%! And it’s time to kick the clunky process of renting a car with your debit card to the curb. Check out how Dollar Car Rental makes renting a car with your debit card easier than ever.

15. Keep your blinds and curtains closed during the day.

Yeah, you might feel like a vampire blocking out any shred of light creeping in, but the payoff could be worth it. The U.S. Department of Energy says that 76% of sunlight that hits standard double-pane windows enters to become heat. And that means your A/C unit will be cranking to try to produce the cool air in your house—which is bad news for your electric bill. If you still want to let natural light in (and we don’t blame you), open the curtains or blinds that don’t let direct sunlight in.

16. Wash your clothes in cold water.

Guess what? You can wash your clothes in cold water and they’ll still get clean. The U.S. Department of Energy says two of the best ways to cut down on the amount of energy your home eats up is by using less water and using a cooler water temperature. Just moving that temperature setting on the washer from hot to warm could cut each load’s energy use in half!

17. Shut the doors!

It might sound weird, but keeping the doors closed to rooms you aren’t using could save you a bundle! Your A/C won’t have to keep pumping air to those closed rooms, which means it’ll have less square footage to cool off and it’ll work more efficiently doing it. Simple fixes like this can impact your energy bill in a big way.

18. Save $400–500 by pausing your gym membership.

Since gyms have been closed this spring, you’ve probably already discovered you can break a sweat without ever having to step into a fitness center. Take advantage of the warm weather and keep doing your workouts outside. Jog around your neighborhood, do yoga in the backyard, or even do a fitness class on YouTube. If you just suspend your gym membership during the warmer months of April–October, you could save about $400–500!

19. Find vacation discounts.

Alright, if you do want to give traveling a go this summer, you’re bound to find some great deals. Hotels, airlines and tourist hotspots are going to be doing all they can to try to seek out summer travelers. This means if you’re comfortable with traveling, you’re bound to save some major money. Search sites like Travelocity, Airbnb and Kayak to see how much you can save!

And don’t forget the beauty of a staycation. After being stuck in your house for weeks on end, it might be nice to hang out in your own neck of the woods for a while and explore your town again. Hit the park (remember those?) and kick back with a good read, like a book from our $10 Sale.

20. Save $700 by shopping for insurance with the help of an independent insurance agent.

You didn’t see that one coming, did you? This is one of Dave’s most popular money-saving tips because it’s so easy to do. Maybe you’ve outgrown your current coverage or you qualify for new discounts. An independent insurance agent can research all the options to find the best deal that’s right for you.

Most people save an average of $700 when they shop around for insurance with one of the agents Dave recommends. That’s nuts! Kick-start your summer savings by making sure you’re getting the best deal on insurance! Get a free quote from an insurance Endorsed Local Provider (ELP) today!



Interesting Economic Facts


NEW NOTE - The US government auctioned off $20 billion of new 20-year Treasury notes last week on 5/20/20, its first sale of 20-year paper since 1986.  Subsequent auctions of 20year Treasury notes are scheduled each month going forward.  In 1986, the auction of 20-year notes occurred quarterly (source: Treasury Department).


RECORD SIZE, RECORD YIELD - The US government auctioned off $32 billion of new 10-year Treasury notes on 5/12/20, the largest sale of 10-year notes in our history.  The notes were sold at a yield of 0.70%, a record low yield at auction.  The government has issued 10-year notes since 1790 (source: Treasury Department).


PANDEMIC DEATHS – 8,598 Americans died from the COVID-19 pandemic in the 1-week ending last Friday 5/22/20 at 9am ET, bringing the national total to 95,502.  The number of COVID-19 deaths has averaged 13,498 per week over the previous 6 weeks (source: Meet the Press –First Read).


A DISINCENTIVE TO GO BACK TO WORK - An estimated 65%-75% of out-of-work Americans who are receiving unemployment benefits are being paid more money per week than they were receiving pre-pandemic from their employment (source: J.P. Morgan “Eye on the Market”).


UP BUT STILL WAY DOWN - During April 2019, an average of 2.34 million passengers were screened each day by the TSA at airports across the US.  Air passenger travel deceased quickly following President Trump’s declaration of a national emergency on 3/13/20.  The low point for air travelers was just 87,534 flyers on 4/14/20, off 96%from the April 2019 daily average.  As states have hit the “reboot button,” airline passenger traffic has inched upward, reaching 318,449last Thursday 5/21/20 (source: Transportation Security Administration).


A JACKSON A DAY - Retail sales in the USA in April 2020 were $403.9 billion, down 16.4% or $79.5 billion from just a month earlier.  The monthly decline is equal to every US household (124.4 million) spending $21 less per day during April than the dollar amount they spent per day in March (source: Commerce Department).


FEWER FOR SALE - There were 1.47 million homes for sale in the USA at the end of April 2020, down 20% from the 1.83 million homes for sale in April 2019 and down 34% from the 2.22 million homes for sale5 years ago in April 2015 (source: National Association of Realtors).


HALF A YEAR - The shortest US recession in the last 100 years was the 6-month economic down turn hat ran from January 1980 to July 1980 (source: National Bureau of Economic Research).


ALL FOR EXACTLY THE SAME SERVICES - Private US health insurance pays on average $241 for health care services for every $100 that Medicare pays and for every $72 that Medicaid pays (source: RAND, Health Affairs).


IN ONE MONTH - The price of West Texas Intermediate crude oil closed at $33.25 a barrel last Friday 5/22/20, up from $13.78 a barrel just a month earlier on Wednesday 4/22/20 (source: NYMEX).


PANDEMIC PAIN - 46 of the 50 states have fiscal years (FY) that run from July 1st to June 30th, with 4 states(New York, Texas, Alabama and Michigan) having other FY end-dates.  The collective projected spending of all 50 states for FY 2020 was $900 billion, to be offset by collective projected tax revenue of $900 billion.  The COVID-19 pandemic has upset the financial forecasts of all 50 US states, now anticipating a collective loss of $105 billion for FY 2020 and $290 billion for FY 2021 (source: The Center on Budget and Policy Priorities).


IT’S THE SHOES - Basketball superstar Michael Jordan wore 2 different sizes of shoes– his left shoe was a size 13and his right shoe was a size 13 ½ (source: Sotheby’s New York).  


...and for the History Lovers... This Week in History


May 25, 1787

The Constitutional convention opens at Philadelphia with George Washington presiding.


May 26, 1977

The movie STAR WARS debuts.


May 27, 1907

The Bubonic Plague breaks out in San Francisco.


May 28, 1953

Melody, the first animated 3-D cartoon in Technicolor, premiers.


May 29, 1849

A patent for lifting vessels is granted to Abraham Lincoln.


May 30, 1783

The first American daily newspaper, The Pennsylvania Evening Post, begins publishing in Philadelphia.


May 31, 1879

New York’s Madison Square Garden opens its door for the first time.


Side note: A quick google search brings up Melody, the first animated 3-D cartoon in Technicolor. 

Abraham Lincoln is still the only U.S. President to hold a patent.

The Pennsylvania Evening Post was the first newspaper to print the United States Declaration of Independence.  It was published on July 6, 1776.


Sources:  website: 


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