A Student’s Guide to Smart Summer Spending & Saving 

It’s finally summer! Whether you’re kicking off your mornings with a run, gaming with friends, or soaking up the sun poolside, this is your time to unwind. While the season is all about fun and freedom, it’s also a great opportunity to be mindful of your money. The choices you make now—both in spending and saving—can set you up for a smoother, more stress-free school year.  

Save this Summer 

Open a Savings Account 

Even small deposits from a paycheck or birthday card can add up fast. Credit unions often offer student-friendly savings accounts that help you set goals, earn interest, and build smart financial habits. You can even automate your deposits—just set it and forget it!  

SAFE Credit Union has some great savings account options—from traditional savings to high-dividend savings accounts—so you can start your savings journey now. 

Apply for Scholarships 

• Applying for scholarships is a wonderful way to save money this summer! Ascent Funding offers a $1,000 scholarship giveaway every month; no essay required!  

Budget Around Plans but Leave Room for Spontaneity 

• Create a simple monthly budget based on your known expenses—like back-to-school shopping, beach days, or a friend’s birthday. Then, add a “spontaneous spending” cap. Whether it’s $30 or $100, this lets you enjoy last-minute BBQs or froyo runs without wondering where your money went. Use SAFE Credit Union’s financial guides or your favorite app to stay on track. 

Apply the 24-Hour Rule 

• Thinking about that $65 pair of sunglasses or a $90 concert outfit? Wait 24 hours. Still want it tomorrow? Go for it. For bigger purchases, wait 48–72 hours. It gives you time to check your budget and see if it’s really worth it. 

Use Student Discounts 

• Student status = Savings. 

• Apps like UNiDAYS and Student Beans offer deals on clothes, tech, food, and gym memberships. 

• Always ask: “Do you offer student discounts?” You’d be surprised how often the answer is yes! 

Try a No-Spend Challenge 

• Pick a weekend—or even just a day— where you only spend on necessities. 

• It’s a fun, low-pressure way to reset your habits, be more intentional, and boost savings. 

Go on a Staycation 

• You don’t need a passport to have fun. 

• Explore your city like a tourist—check out local concerts, free museum days, night markets, or hiking trails. 

• You’ll save hundreds on travel while still making memories. 

Smart Summer Splurges 

Invest in Timeless Summer Staples 

• Choose breathable, durable fabrics like cotton and linen. 

• Stick to neutral colors and classic styles that won’t go out of fashion. 

• Think cost-per-wear for long-term savings. 

Prioritize Health: Buy the Sunscreen 

• Sunscreen isn’t optional—it’s both self-care and long-term financial protection. 

• A $10 bottle now is less than future medical costs. 

• Pro tip: Buy in bulk or check for student discounts at local stores. 

Final Thoughts 

There are infinite ways to spend and save responsibly. It’s an easy way to stay in control of your money this summer, and come fall, you’ll be glad you did! 

About the Author

Kristina Nguyen is a community college student studying Business Administration with an emphasis in Marketing. As President of the Business Club and Transfer Club at her school, she helps students navigate the transfer process, connect with industry professionals, and access scholarship resources. After graduating from high school at 16, Kristina entered community college unsure of what to expect and unaware of the many opportunities available. Now, as she prepares for her own transfer to a four-year university, she’s passionate about helping other students feel confident in their journey and realizes there’s no shame in taking an alternative route to their goals.