5 Savvy Summer Savings Tips from Informa Research Services

Aug. 21, 2009 - PRLog -- CALABASAS, CALIFORNIA – Summer fun doesn’t have to cool down just because consumers are strapped for cash.  Instead take advantage of community events and the internet to save money.  To magnify the effects of being frugal, Informa Research Services recommends depositing the cash saved into a savings, money market, or certificate of deposit account earning the highest annual percentage yield (APY) possible.  By cutting costs to amass savings, consumers can enjoy this sunny season while fortifying their finances (http://www.bankingmyway.com/).

1.   Keep an eye on social media.  Companies vying for consumer attention and growing their online fan base are offering discounts and specials only available through various social media outlets.  Since signing up for social networking sites is free, these promotions can be used as easy ways to pinch some pennies.  Check the authenticity of the offer by making sure it’s coming from an official company source.

2.   Look for community events.  Perks of summer include fairs, art festivals, and free movie events frequently hosted by parks and cities.  By taking advantage of these events, such as a free movie viewing in the park, a family of four could easily save more than $50 over paying full price at the movie theatre (which means doing this every week for a month to save over $200)!  Another low-cost alternative is going to a county fair.  Not only does it cost less than going to a theme park, but with the variety of activities available, everyone is sure to find something fun to do!

3.   Use what you have.  To save money, use what you already have.  Host a family gathering at your home instead of going to a restaurant.  Potlucks can be a fun, budget-friendly way to try new foods, enjoy home cooking, and entertain company.  If you have camping equipment, go camping for a getaway instead of booking (and paying for) a traditional vacation.

4.   Don’t pay to see priceless collections.  Consumers can visit top-notch museums around the country without paying a cent.  For example, the Texas National Science Center in Austin and the Getty Museum in Los Angeles are both free to the public.  Of the museums that do charge an admission fee, a number offer free admission on certain days of the month.  For instance, admission to the Museum of Modern Art (MoMA) in New York is free every Friday evening from 4pm to 8pm.  Also, the Norton Simon Museum in Pasadena, California admits guests for free the first Friday of every month from 6pm to 9pm.  Check the museum websites for their admission policies.

5.   Stay local.  By keeping summer fun local, consumers can eliminate the cost of transportation and overnight accommodations.  Adventure to a nearby city to explore the local flavors.  Consumers should also try shopping at community farmers markets.  Frequently the vendors there have fresher produce at lower prices than many chain grocery stores.  By shopping at farmers markets, not only are consumers getting better produce for less cabbage, but they are also supporting their local economy and reducing their carbon footprint on the environment.

The economy doesn't have to put a damper on your summer.  Take advantage of the opportunities that present themselves and make the most of the summer season.

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Since 1983, Informa Research Services, Inc., has provided the financial industry's most extensive array of market research and decision-support information.