Four Finance Hacks To Try This Summer

Financial routines can become worn tracks in yearly budgeting, habits that have been done time and time again with no new changes. Savings may still continue at the same pace and expenditures may not change drastically over time. However, stagnation is no excuse for not revisiting financial plans and budgeting techniques. And what better time to shake up a tired routine than the summer.

Below are just four tips that can be used to reevaluate your financial health and hopefully put a few extra dollars in your pocket and a more secure sense of control over your hard-earned income.

1. Use Only Cash

This concept can be implemented to the extreme or geared toward specific expenditures. Spending in cash has been shown to curb unnecessary buying habits, as psychologically humans are more likely to revert to a bargaining and bartering thought process when exchanging something physical for goods and services (as opposed to swiping a piece of plastic).

The physical interaction of turning over something (money) for another thing affects the brain differently than swiping a card that is then returned to the shopper. When using cash, the spender leaves with something less, while using plastic creates the momentary illusion that nothing is lost since the method of spending is still carried by the spender.

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2. Clear The Cache

If the appeal of online shopping is too much to handle, try this simple trick to curb the click-it craving: Delete your browsing history, cookies and cached information.

Online shopping can rack up some serious damage to accounts because of its ease of use and the lack of physically handing over money to another person. And, with the convenience of cached information, e-shoppers do not even have to re-type in their information when making purchases. This additional step of removal from the age-old bartering technique can leach on shoppers and make spending money seem more like a game than a financial exchange.

3. Get Ahead On Bills

The mundane monthly thorn in many Americans' sides: bills. With bills coming in throughout the month, due at random intervals, it's easy to get behind or be caught unaware. This summer, try to beat them to the punch. If you have the extra cash, pre-pay a month's bills. The feeling of control over your financial situation can be life altering. Simply by being one month ahead, every other financial decision becomes more controllable. Instead of having bills dictate your spending habits, seize control.

Another way to get ahead without spending twice as much per month on bills is to reevaluate how your bills are being paid. Look at terms and conditions on credit cards and loans. Even if you just pay $20 toward the principal on a loan, that little bit of leeway can have a huge impact over time. Look at payment options for utilities; sometimes utility companies charge transaction fees if bills are paid electronically or over the phone as opposed to through snail mail or automatic withdrawals.

4. Pick Up Those Pennies

At the end of the day, empty your wallet, car cup holders/coin drawer and pockets. Put any change into a jar set aside specifically for loose change. It may not seem like much, but after a few weeks or months, the amount of "chump change" accrued is bound to be more than anticipated.

Even if these hacks are only tried during the summer, the financial implications can be surprising. Oftentimes, the littlest steps, when done consistently, can have the biggest impacts. Try these tricks for a month and regain control over your financial situation.