The weather is beachy, the sun is tempting, and your finances are still, well ... your finances. So we’ll ask you to take a brief break from your chic garden parties and midsummer soirees to double-check that your money is pulling its weight—which, of course, leaves you free to enjoy summer to the fullest.
Here’s what to do for your finances in July:
Reassess Your Budget. Deadline: Tuesday, July 5
Go to the LV Budgeting Tool to make sure you’re sticking to your current budget. Vacation spending can throw it off, so make sure you reallocate for the coming months if you're spending more during the summer. Adjust your numbers if your income, goals or lifestyle has changed.
Check Your Credit Score. Deadline: Monday, July 11
We recommend you do this once each season. This magic number helps lenders decide whether you’re worthy of their credit (as in, can they trust you with a credit card or a mortgage?). A big, sudden drop in your score can indicate a problem with your credit report—such as errors that can wrongfully weigh it down—so we recommend checking your score regularly. For instructions on how to do this, click here.
Take Stock of Your Energy Use. Deadline: Thursday, July 14
Sit down with your most recent electricity bill and figure out what you could do to reduce it for next month. We know it’s hot out, but that makes now the time to figure out ways to cool your home for less. (For an extra nudge, check out these eight ways to save on summer energy costs. Click here.)
Chill Out. Deadline: Friday, July 22
Look, it’s summertime. If you stress out too much over the things you have to do, you won’t actually enjoy the longer days and balmy nights. Taking a break isn’t just a nice thing to talk about—it actually helps you perform more efficiently at work and in life. So, this weekend, give yourself a bona fide break. Here’s why time off is so crucial.
Get Tidy Around the House. Deadline: Thursday, July 28
Whether or not you’re moving this year, take the opportunity to spruce up your home—fix and paint holes in the wall, touch up scrapes in a wooden floor or just switch out some of your home accessories to achieve a new look. (Learn here how to fix up issues like these in less than a day.) This low-key home makeover will go a long way, whether you’re trying to make your house look good for potential homebuyers or trying to make sure you get your security deposit back from your landlord.
What to Buy in July
Retailers are clearing space to make room for new inventory.
Sales for these tend to follow holiday weekends, so consider going around Independence Day.
Buy spring suits in the middle of the summer, when the inventory is on its way out.
Interestingly, butter production tends to be at its best during June and July, so prices are accordingly low—you can freeze butter to make it last for up to six months.
When it's hot out, no one feels like painting … which is why it's cheap at this time of year.