There are two key ways to ensure you have money in the future: saving and investing. Although the two are used interchangeably, there is a difference. Saving provides funds in the form of easily available cash. The nice thing about saving is that you are in complete control and can grow your balance as quickly as you would like and are able. In contrast, investing is a long-term process of building your net worth that involves some risk and some help. Unless you have already established a savings account worth at least six months of your salary, it is not wise to begin investing. So, why not grow your savings and see what a difference just a few months can make?

For those of us with vacations it may take a little extra willpower and for those of us still in the workforce it may mean sacrificing our morning trip to the coffee shop, but the savings we can build in one summer are a short-term sacrifice for long-term peace of mind. Without surrendering time with family and friends, the warm weather, and summer fun, you can make your pennies last a little longer this summer and increase your savings!

Here are a few money saving ideas:

Take a Day Trip
Check your local listings for museums, parks, or hiking trails with free admission. You can pack a lunch and a camera, save on gas and lodging, and make lasting memories by simply enjoying what your region has to offer.

Plan a Potluck Barbecue
Invite your friends and family for an outdoor potluck barbecue. Shut off the air conditioning, set up the volleyball net, and enjoy the summer warmth with your friends and family. You will surely save on your utility bill, dining out costs, and a babysitter if you have young kids.

Make Your Own Ice Cream
Nothing is more refreshing than ice cream in the summer! You’d be surprised at how much the ice cream parlor and store-bought ice cream can cost you in just a few months. Luckily, there is an alternative! Go online and find the recipe for your favorite flavor, usually made from a few essential ingredients you probably have lying around your house (eggs, milk, sugar, and cream). It’s a quick and easy way to enjoy your refreshing summertime snack, available any time of the day… and the cost of gas is excluded.

As your spending shrinks, watch your savings grow. See firsthand the difference your summertime savings can make and once you have accumulated a sufficient amount, why not celebrate by investing?