Monday, May 4, 2015

10 Things You Need to Know About Saving Money in May

pocket money

During the month of May, don’t forget mom or our veterans. And, I’ll be dismayed this month if you blow your extra paycheck on something silly. Below is everything you need to know about saving money and cutting costs in May.

Read: 17 Biggest Budgeting Mistakes You’re Making

1. Extra Paycheck Month?

If you get paid every Friday — and perhaps if you get paid every other Friday — this might be one of those rare months in which you receive an extra paycheck. Before you run out and spend it all on springtime splurges, like bock beer and a new Speedo, honor your inner cheapskate and use at least some of the windfall to pay off debt, pad your savings or donate to a charity of your choice.

Besides, with another year behind you, that new Speedo might not reflect very positively on what’s now behind you this summer at the beach.

2. Be Smart About Sunscreen

Speaking of the beach, don’t forget the sunblock. The sun’s rays in May can be as intense as in August, but the cooler temps can easily result in a surprise sunburn. Did you know that off-brand sunscreen is just as good as name-brand, as long as you find titanium and/or zinc oxides listed in the ingredients?

And don’t be fooled by the multitude of bottles aimed at different age groups and different parts of the body — you only need one type of sunscreen for the whole body and whole family. I’ve found that rub-on sunscreen gives you a lot more coverage for your money (plus, it gets me a free back rub from my poor wife), but if you use the spray stuff, remember to spray it indoors. That way you don’t lose most of it in the wind.

3. Best Buys This Month

Many retailers start marking down their remaining spring apparel inventories in late April, so by May it’s a buyer’s market. Many Memorial Day sales truly do represent a good value, particularly for housewares and electronics. And with everybody in spring cleaning mode, donations to many thrift stores spike in the spring, so you’ll likely find the biggest selection of merchandise this time of year.

Related: 4 Best Things to Buy in May

4. Cheapo Cinco de Mayo

I love celebrating Cinco de Mayo, which, funnily, is on May 5 again this year. Not only am I a huge fan of Mexican food and all things Mexican, I’ve found that hosting a Cinco de Mayo party for friends and family is a great opportunity to throw a budget-friendly bash.

Chips with homemade salsa and guacamole, some Mexican cerveza, my famous grilled jalepeño poppers and a big batch of pork carnitas in the Crock-pot is all you need. Look for almost all of the ingredients to be on sale at the supermarket this month for Cinco de Mayo celebrations. Just Google for recipes, and watch this video for other tips on how to party on the cheap.

5. May 10: Mother’s Day

Call her, cook her dinner for a change or make her a memorable gift with your own hands and heart, but whatever you do, don’t forget your mom on Mother’s Day. Heck, you can even treat her to some Mother’s Day freebies. For example, see if you can take advantage of special offers and promotions for National Public Gardens Day on May 8.

Also remember to buy dear old mom a bottle of her favorite libation this Mother’s Day. After all, you’re the reason she drinks.

6. Sneezing at the High Price of Allergy Medicines

One of the best things you can do to avoid seasonal allergies is simply wash your hands and face often to remove allergens from your skin. But if that’s not enough, fight allergies by drinking lots of water — the hydration helps your body cope better.

You can also make your own allergy-soothing saline nasal spray by simply mixing 8 ounces water, 1/4 teaspoon kosher salt and 1/4 teaspoon baking soda, and dispensing it with a bulb syringe. Also, be sure to eat plenty of allergy-fighting foods, like citrus fruits, berries, cherries, apples, kale and garlic.

7. The Great U.S. 50 Yard Sale (May 15-17)

If you like treasure hunting at yard sales, check out this little sale going on along the U.S. Route 50 corridor, all the way from Ocean City, Md., to Sacramento, Calif. Yeah, that’s right: a yard sale —  or, rather, a whole bunch of sales — that stretches more than 3,000 miles.

No matter where you live, May is yard sale season. You’ll find all of my best cheapskate tips and tricks for scoring yard sale bargains in this video.

8. Spring Travel Fever

May is my absolute favorite month to travel. Throughout much of the U.S. and many destinations abroad, low-season prices are still in effect, even though the weather is often more summery than spring-like, and the throngs of summer tourists have yet to arrive.

From Tuscany to Portugal, the Philippines to Mexico’s Pacific coast, according to Condé Nast Traveller, May is the perfect month to see much of the world.

Keep reading: How to Save Money for Vacation From 11 Travel Experts

9. Did You Forget National Pest Management Month?

You might have forgot all about April being National Pest Management Month. But it’s never too late — or too early — to protect your expensive home against pests.

Many of the most effective preventive measures are inexpensive DIY jobs, like filling cracks in the house’s foundation, keeping branches, plant material and other debris from coming in contact with the house, and eliminating moisture and standing water in and around your home. I like to use inexpensive “Diatomaceous Earth”— the fossilized remains of ancient algae!—to deter and exterminate all sorts of creepy crawlers inside and outside our house.

10. Remembering on Memorial Day

Sure, Memorial Day signals the official start of the summer season, and everybody loves a three-day weekend. But take time this Memorial Day to remember the men and women of our Armed Forces who have paid the ultimate price in serving our country and to thank those who are still here and serving it today. And say “thank you” in a very tangible way by making a donation this Memorial Day to a charitable organization serving our veterans and their families.

May: The butterflies are out in full force, prompting me to wonder, “When butterflies are nervous, do they feel humans in their stomachs?”

This article originally appeared on GOBankingRates.com: 10 Things You Need to Know About Saving Money in May

This article by Jeff Yeager first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.


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