The following is a guest post from Emily, a college student trying to have as much fun this summer while also making money!

Before I start, let me make this clear, that I am no way a financial expert. I struggle frequently with my money problems, but here are some things I’ve learned over the years. 

Ahhh, finally! Summer Break is here! You’ve spent the past year or semester struggling throughout the school year and dreaming of your fun summer plans. Sadly, when summer is here your work schedule seems to take away all of those fun summer plans. Plus, you realize how expensive it is to have fun. Let me just say I relate! For me, I work Monday-Thursday in the mornings in an office job. In the evenings, I work about 5 nights a week at a restaurant. Basically, I work a lot and rarely have days off to enjoy my summer. So, here are some tips I have on how to work a lot but also to make the most out of it! 

Tip #1: Create a Budget and Watch your Spending

When creating a budget, think about how much money you should have saved for the next year. If you’re like me, you’ll need money for weekly coffee trips, spontaneous trips, concerts, shopping, and other necessities. Once you estimate how much money you need for next year, see how much of your weekly paycheck you need to set aside to help you reach that goal. Once you realize how much you need to save, you can then have fun with the other money. 

For example, let’s say you make $300 a week. For your next year at college, you want to have at least $2,000 saved. Throughout the summer you’re able to work 10 weeks. Each week, if you save $200 of your paycheck, you’ll have plenty of money to spend throughout the week while also saving enough for your next year. 

Look back over your spending for the past month or so. What areas do you spend too much in? Clothes, meals out, coffee?? What are some ways you can control your spending? Instead of going to the cute boutiques, try shopping at a TJMAXX or Ross for more affordable clothing stores. When it comes to eating out, can you really afford to spend $30 on a meal? Think about it, would you want to work for about 3 hours (depending on your hourly wage) to have a meal out? Try more affordable restaurants or just cutting down on the times you eat out. 

Tip #2: Set Financial Goals 

In a year from now, where do you want to be? You might have to rent an apartment, you might buy a new car, start paying your bills, basically; you need to have money saved for the future. You should ask yourself,  In a year from now, where do you want to be financially? Do you want to spend your next summer working hard again? 

Tip #3: Be realistic 

If you only have one night a week to hang with your friends, don’t go crazy on that one night! Basically, don’t blow all your hard earned money in one night. Be realistic, and allow yourself to enjoy your summer. 

Tip #4: Don’t compare yourselves to other people, especially with Social Media 

Sadly, we can’t all be apart of the Kardashian family and take exotic summer vacations. It can be really hard in the summer to have FOMO (fear of missing out) because you see all your friends and celebrities having the time of their lives on social media. But keep your head up, and don’t compare your lives or your financial situation to other people. Work hard this summer, so that next summer you can go on that vacation with your friends. 

Tip #5: You can still hang with people! 

You can still have fun! There are plenty of fun things you can do for relatively cheap in the summer with your friends. Besides, for me, it’s more about making memories with friends then spending all your money on materialistic things. In 20 years from now, are you going to remember the $50 you spent on earrings or the $50 you spent to do a fun event with your friends? 

Depending on where you live, there might be places for you to explore in your own city! Get out and be a tourist for a day in your city, go for a hike, explore a museum, etc.

It’s very possible to have balance during the summer; having plenty of fun but also earning and saving money!