Ice cream, mojitos, margaritas, daycations, summer movies, concerts, or weekends at Bear Mountain or Miami. Lounging by the pool or cranking up the barbecue. It's summer, baby! You plan to enjoy the summer, right? Of course. Go for it. But keep in mind what lurks behind all that joy, especially in your summer fun on a budget.

What if I go and let summer fun exceed my budget?

Fair question. It's hard to be responsible when scantily clad bodies await in Cali, or you and your spouse can finally see Europe.

The What If Monster's waiting for the vacation cruise, and the bills that add up quickly. Or maybe you've considered the What If Monster and are waffling between spending time in Vegas or staying home.

Fortunately, you don't have to choose between financial wellness and making the most of summer. Keep the What If Monster quiet and enjoy the season with confidence.

Step 1: Give Yourself Permission — But With Parameters

Summer is meant to be enjoyed. Instead of not spending altogether, plan for your summer fun on a budget.

• Create a summer budget: A budget is the first step for any financial goal. Why not do the same for summer fun? Consider what you'd like to do and analyze your finances to see how compatible the goals are with your finances. Be realistic so that you don't compromise financial stability.
• Label it lifestyle spending: Embrace your plans as deserved enjoyment, not extravagance or something unnecessary. When it's intentional, it's not wasteful and is in alignment with values. Just remember, conventional budgeting has limits and categorization. Decide on broader aspirations for the summer and plan how to achieve them.
• Leave room for spontaneity: Like your emergency savings, build a small buffer for the unexpected. Your friends might invite you to a last-minute weekend getaway or day trip. Be ready to manage that instead of flat-out rejecting the possibility or dipping into savings.

Step 2: Be Honest About What Brings You Joy

Are you planning because the experience is meaningful, or because it feels like something you're supposed to do?

• List five to 10 must-dos. Decide what's financially manageable. How many times do you want to spend a night in the town? How long have you waited to visit your best bud in Texas? Focus on experiences like that family trip and avoid extras (multiple weekends in Atlantic City). Determine how to finance your plan.
• Say no to what doesn't align with your goals.
• Be financially savvy about what's feasible. Streamline the list until you have activities that will make memories and be fun.

Step 3: Adjust, Not Abandon, the Plan

If you overspend a little for any given activity or in a specific week or month, don't panic. Falling off the wagon won't ruin your future, but ignoring it might.

• Dial back on the next trip/week/month's expenses. Instead of a weekend in the Poconos, maybe a day picnic or soaking in the sun on the beach could be substituted.
• Avoid dipping into emergency funds unless truly necessary. Do not go into debt. Do not spontaneously fly with the girls to Hawaii. If you use emergency funds, develop a plan to replace what's taken sooner rather than later.
• Consult with your planner about pivoting or rebalancing the financial scales. Consider opening a vacation savings account. Even small amounts saved for summer will sidestep jeopardizing financial goals.

A Plan That Includes Joy Is a Plan That Lasts

Summer sunshine demands attention, and spending is fine. However, a solid financial strategy can weather your summer fun on a budget.

At CrossleyShear, we see your financial plan as part of your lifestyle, not a restriction. A good life is the overall goal. That includes making room for meaningful experiences, memory-making moments, and yes, even summer fun. However, if you worry about how seasonal spending fits into the bigger picture, we're here to help develop a plan that feels good now and later.

Schedule a check-in with CrossleyShear today.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Dale Crossley and Evan Shear  and not necessarily those of Raymond James.