The last hurrah before summer comes to an end, Labor Day weekend can take a bite out of your budget. If paying bills and saving for retirement has left you low on cash, we feel you. Working at SmartAsset has made us all a little more budget-conscious, even if we don't follow our own advice 100% of the time (more like 99% of the time!). Here's how some of us are saving this Labor Day weekend.
Find out now: How much do I need to save for retirement?
One of the biggest perks of living in New York City (the town SmartAsset calls home) is that friends and family are always eager to come for a visit. Senior Product Manager Yassine and User Experience Researcher Mariam are both going the staycation route for Labor Day 2015. They're saving on Labor Day travel by letting friends and family come to them. "It's a big perk of living here," says Yassine. "New York is a vacation destination for other people." If your budget is tight this year or if you just don't feel like traveling, why not invite friends and relatives to stay at your place?
At least one SmartAsset team member is spending Labor Day 2015 camping. Not glamping, camping. Data Editor Nick is saving on Labor Day travel by sleeping in the great outdoors. Eliminating the cost of a hotel, hostel or Airbnb rental means Nick is reaping serious savings. Let's just hope it doesn't rain that weekend.
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SmartAsset's Director of PR Asees is leaving the state for a wedding over Labor Day weekend. While she's not exactly saving on Labor Day flights she's cutting the costs of the long weekend by re-purposing accessories and wearing an inexpensive dress. Frugal Asees says she paid $20 (discounted from $70) for the dress she'll wear to the wedding.
Related Article: 5 Ways Frugal Fashionistas Can Cash In
A long weekend of fun activities can get expensive if you're eating out three times a day. We talk a lot on the SmartAsset blog about how cooking at home can save you money, but sometimes you just want to get out of the house, right? Picnicking is the perfect compromise.
You save money by preparing your own food but you get out and about like you would in a restaurant. Several of us will be taking advantage of the last of the warm weather to picnic it up this Labor Day. VP of Digital Sales Chris will be taking his picnic to a beach near his Connecticut home. There's nothing like a #LaborDaybbq.
...and the not-so frugal
Not everyone at SmartAsset is taking the frugal approach to Labor Day weekend 2015. I'm flying from NYC to Alaska to visit family and Data Engineer Kunal is headed to Puerto Rico for a little more sunshine before fall hits. For some of us, taking advantage of a day off work to do a bit of traveling is hard to pass up. We know we're splashing out on Labor Day so we'll cut back in other parts of our budget. For a start, I'll be saving on lodging in Alaska by staying with my parents (hey, Mom and Dad!).
Even those of us who work at a personal finance startup don't practice what we preach 100% of the time. Trying to stick to a budget that's too rigid is a recipe for frustration. The important thing is knowing when it makes sense to splurge and when it makes sense to save. That depends on your budget and on the occasion. If Labor Day travel is your thing and you can afford to splash out, go for it. Then find other times and ways to cut back. Good luck!
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