15 Money Moves to Make This Summer: From a Financial Advisor
May 19, 2025
Summer’s slower pace can be the perfect opportunity to make progress on your financial goals. If you want to save more, cut costs, or plan for retirement, this seasonal checklist can help you use your free time wisely.
1. Use Your PTO Wisely
Many Americans leave paid vacation days unused each year—essentially giving up money they’ve already earned. Check your balance and schedule time off.
Not only is it good for your mental health, but it's also financially smart. Multiply your hourly pay by your unused PTO—you’ll see why it’s worth it. Before you book travel, see if your employer offers deals on lodging, car rentals, or attractions.
2. Review Your W-4 Withholdings
When’s the last time you looked at your W-4 form? If you’ve had life changes like getting married, adding a dependent, or taking on freelance work, it’s time to adjust. Too much withholding means less take-home pay, while too little could result in a surprise tax bill. Check with your HR team for how to update it.
3. Keep Your Cool—Efficiently
Hot weather can send your energy bill soaring. Block sunlight with thermal shades, raise the thermostat a few degrees, and consider whether it’s time to replace an outdated A/C unit. Newer models can cut your cooling costs significantly.
4. Negotiate Your Rent
If your lease is nearing renewal, don’t automatically accept an increase. Start a conversation with your landlord 60 days before your lease ends, armed with data on local rental prices. Having a specific proposal and meeting in person can boost your chances of success.
5. Press Pause on Subscriptions
Streaming services, gym memberships, and auto-ship programs may be underused during the summer. Check whether you can pause or downgrade these temporarily to save money while you’re spending more time outside or away from home.
6. Check Retirement Contributions
Now’s a good time to log into your retirement accounts and see where you stand. Are you contributing at least 15% of your income, including your employer match? If not, aim to bump it up by 1% after a raise or bonus.
In 2025, the contribution limits for 401(k)s and 403(b)s increased to $23,500. People aged 50 and older can contribute more.
7. Test Your Fridge Seal
Your refrigerator could be costing you if its door seal (gasket) isn’t working properly. A quick test: close the door on a dollar bill—if it pulls out easily, it’s time for a replacement. For renters, let your landlord know. A properly sealed fridge can improve efficiency and lower your energy bill.
8. Double Check Medical Bills
Summer check-ups can lead to unexpected charges. Always verify that services were billed correctly through your insurance. Request an itemized statement, compare billing codes with reliable resources, and dispute any errors.
Can’t afford the full bill? Ask about payment plans or discounts.
9. Shift Energy Use Off-Peak
Energy rates are often higher during peak hours (typically 8 a.m. to midnight). Run major appliances like dishwashers or washing machines early in the morning or late at night to save. Bonus: Running the dishwasher at night reduces added heat, helping your A/C run more efficiently.
10. Know Your Credit Card Rates
With average interest rates exceeding 24%, carrying a balance can get expensive fast. Check your current rates, especially after the first year when promotional offers may expire. Staying aware of your rates might help you avoid unnecessary debt—or inspire a plan to eliminate it.
11. Redeem Credit Card Rewards
Planning a trip? Now’s a great time to use those reward points. Some cards let you convert points to cash or deposit them into investment accounts. Check your card benefits to make sure you’re maximizing what you’ve earned.
12. Go After That Raise
Summer is a strategic time to bring up a raise—many employers are preparing next year’s budget. Prepare by gathering performance metrics and accomplishments, then request a meeting. Be clear and confident: “I’d love to discuss my progress and get your feedback.” A well-timed ask could pay off.
13. Turn Clutter Into Cash
If you’ve got summer clothes or accessories you won’t use again, list them on resale platforms. Use the proceeds to fund fall wardrobe needs or add to savings. Selling now, while summer items are still in demand, could get you top dollar.
14. Pay Quarterly Taxes
Self-employed? Earning investment income? The next estimated tax payment is due September 15 for income earned from June through August. Missing the deadline could mean penalties, so plan ahead if you’re not already setting aside money for taxes.
15. Lower Your Monthly Bills
Your cable, internet, or phone provider might have cheaper plans—they’re just not telling you. Do a little research on current promotions, then call and ask if you’re getting the best rate. Mention what competitors are offering and don’t be afraid to ask for the retention department, where more flexible deals are often available.
Bottom Line:
Summer doesn’t just have to be about vacation—it can also be a great time to get ahead financially. With a few strategic tweaks, you can save money, improve your financial health, and enter the fall feeling confident and in control.
Sources:
https://www.fidelity.com/learning-center/smart-money/financial-planning-checklist-for-summer
Disclosures:
This information is an overview and should not be considered as specific guidance or recommendations for any individual or business.
This material is provided as a courtesy and for educational purposes only.
These are the views of the author, not the named Representative or Advisory Services Network, LLC, and should not be construed as investment advice. Neither the named Representative nor Advisory Services Network, LLC gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. Please consult your Financial Advisor for further information.
