Weekly Roundup: Smart Money Moves for Summer Savings

This week's roundup features money-saving tips for the summer, including avoiding online scams during back-to-school shopping, strategies to manage rising utility bills, and cautionary advice regarding dangerous fuel-saving hacks.

Weekly Roundup: Save Money This Summer and Beyond

As summer heats up, so do concerns about rising expenses. We’ve gathered essential tips and tricks from various sources to help you navigate your finances and avoid common pitfalls. This week’s roundup includes advice on energy savings, back-to-school shopping strategies, and avoiding scams.

Discover top money-saving tips for the summer season.

Avoiding Scams While Shopping

As students prepare to head back to school, families are expected to spend $38.8 billion on supplies. This gives rise to opportunities for scammers to take advantage of busy parents looking for deals. According to the Better Business Bureau (BBB), online purchase scams remain one of the most common risks. To protect your finances, the BBB advises consumers to verify deals before making any purchases, especially when shopping online.

In 2023 alone, Texas residents reported $1.5 million lost to these scams. To minimize risks, check for signs of fraudulent sites such as URLs that do not begin with https or lack a security lock symbol.

“Scammers know the shopping habits and trends of consumers,” notes Heather Massey from BBB.

Be mindful of scams during your back-to-school shopping.

Conquering Summer Utility Bills

With soaring temperatures leading to increased air conditioning usage, reducing your utility bills is crucial. Here are five practical ways to help keep those costs manageable:

Mind the peak hours: Electricity is most expensive between 4 p.m. and 9 p.m., as solar energy production declines. Try scheduling power-hungry tasks outside these times.
Pre-cool your home: Let your home’s temperature rise to 86 degrees before you return, then turn the AC on to cool it down.
Close blinds or curtains: This simple act can significantly reduce the amount of heat entering your home.
Run appliances during off-peak times: Delay using washers, dishwashers, and ovens until after high rate hours.
Beware of ’energy vampires’: Devices left plugged in can add to your utility bill, even when not in use.

The U.S. Department of Energy estimates that these devices can account for up to 10% of your home’s energy consumption. Unplug and adjust power settings to help combat this waste.

Learn how to reduce your electricity usage this summer.

Caution on Fuel-Saving Hacks

In another warning for motorists, experts are cautioning against a dangerous TikTok fuel-saving trend that involves tailgating large vehicles. While this may seem like a way to save on fuel, Todd Bialaszewski of Sell My Car Online explains, “While it’s tempting to save money wherever we can, tailgating is not the answer.” Not only does it reduce visibility and reaction times, but it is also illegal in the UK and can incur hefty fines.

Motorists should seek safer, more legitimate methods to improve fuel economy rather than risking their safety.

Stay safe and smart with your fuel economy strategies.

Conclusion

This week’s roundup underscores the importance of being vigilant while looking for ways to save money in our daily lives—from back-to-school shopping to managing summer utility bills and staying safe on the road. Implement these tips to protect your finances and ensure a more secure financial future.