The 4th of July is one of the highlights of every summer. This yearly celebration of America’s independence provides an opportunity to celebrate with friends, family, and loved ones. But alongside that celebration comes a whole host of expenses, both seen and unforeseen. Proper budgeting skills and a few creative ideas can help you save money this 4th of July to have the celebration you want without breaking the bank.
Here are a few ways to save on 4th of July expenses and a few budgeting tips for the big day:
Ways to Save On 4th Of July Expenses
Create Different Tiers
When it comes to any celebration, there are three ways of doing things: the rich, the cheap, and the in-between. For example, if you’re planning on hosting a meal on the 4th of July, you could go the expensive route and take the whole family out to an expensive restaurant where you foot the bill. Or you could take the cheap route and plan a potluck barbecue in your backyard, where everyone supplies their food. Then there are plenty of middle-ground options, such as a catered lunch at home or a barbecue where you provide the food and the drinks.
When budgeting for the 4th of July, try to break each of your expenses into rich, cheap, and in-between categories. Are there certain areas you want to go all-out in, such as the food or the fireworks? Are there any areas where you’re okay with pursuing the cheaper alternative, such as decorations? When you have several different options for each expense, it becomes easier to find where you can afford to spend more and where you’ll need to cut back to stay within your budget.
Take Advantage of Local Fireworks
Buying your fireworks can be a costly proposition. Instead, consider finding local fireworks shows to attend with your friends and family on the 4th of July. You can save money by packing up a few chairs and heading to your local park to see the fireworks instead of buying your own.
Invest In Future Celebrations
If you’re forced to start from scratch every year, the 4th of July will always be an expensive holiday. But if you invest just once in durable supplies that you can dig out every year (or even every holiday), you can save yourself a lot of money in the long run. Consider investing in high-quality grilling gear and durable decorations that you can keep year-round. If you buy any decorations that are all red, then you can even reuse them for other holidays such as Christmas or Valentine’s Day without anyone batting an eye.
Budgeting Tips for The 4th Of July
Set Reasonable Goals
Most families likely won’t be able to save thousands of dollars for a 4th of July party at a month’s notice. But that doesn’t mean you can’t set and stick to a savings goal to throw a fun holiday celebration. Make sure you set reasonable savings goals for yourself that you can realistically attain through budgeting.
By setting yourself up for success, you’ll be much happier than if you try and fail to do too much.
Prioritize Your Spending
If you want to save money for the 4th of July, you will have to make some cuts to save money.
When budgeting, look at the non-essential parts of your budget to see where you can scale things back. This may include areas such as entertainment, clothes, or eating out. If you can temporarily lower your spending in these discretionary areas, you can afford to spend more on the 4th of July without making a permanent sacrifice.
Leave Extra Room
Budgeting should always leave room for surprises. If you tread too closely to the upper limit of how much you must spend, you risk a last-minute problem pushing you over the edge and into debt.
When budgeting, leave at least an extra $100 just in case you need to make a last-minute food run for additional guests, or you have to replace any rental equipment that gets damaged.
Find Ways to Earn More Money
If you’re budgeting with a fluctuating income and the summer months are lean, it might not be easy to meet savings goals for the 4th of July. Still, you can find ways to earn more money by picking up a temporary side gig to help save for the celebration. Selling items on sites like Craigslist, driving for a rideshare company like Lyft or Uber, or dog sitting for sites like Rover and DogVacay can give you more money to work with and make budgeting much more manageable.
Budgeting for the 4th of July doesn’t have to be a headache. Follow these tips and start saving today to give yourself the 4th of July celebration you deserve.