Want to save more money? Start with your toes…



Want to save more money? Start with your toes…

Every Spring, teenagers make it through college prep testing, prom, and how to drive a car – but how well do they survive the summer without spending too much.

You have to start somewhere when it comes to saving money. Why not start with your toes?

Summer is just around the corner – which means it’s prime time for manicures, pedicures, and taking in a blockbuster movie or two, or three. Aaahhh…. That’s the life!

But that life comes with a price. Literally. And that price is $315. (Give or take a few dollars.)

Every time you pay to get those nails polished, those toes painted or watch the latest movie, that’s money that’s not in your bank account.

We aren’t trying to be the Ebenezer Summer Scrooge here. We’re just doling out sound financial advice: If you skip the manis/pedis every now and then or opt to wait for the movie to come on Netflix, you could save yourself a nice little nest egg come September.

Money Management vs. Manicures & Movies

Let’s consider this monthly example:

  • 1 Manicure: $25
  • 2 Pedicures: $50
  • 2 movies: $30 (includes tickets, popcorn and drinks)

$105 (Total monthly expense)

x 3 months (June, July & August)
$315 (grand summer total)

That $315 might not seem like much at first, but it’s probably the equivalent of a car payment, car insurance, a monthly student loan payment. – or even a roundtrip airline ticket to Fun Destination City, USA just when you need to get away.

The Accounting of “Needs vs. Wants”

This doesn’t mean that you shouldn’t enjoy the luxuries of life every now and then. But if you pick something to cut back on this summer, you may be surprised at the dramatic impact it will have on your savings account. If you take that savings one step further and place those funds in a money market account at 3 or 5 % over 5/10/20 years, the money you save could be substantial down the road.

It really comes down to a matter of what you NEED (shelter, food, health insurance) vs. what you WANT (cool shoes, nicer nails, newest phone upgrade). So, this summer, before you polish those nails or settle into that theatre seat, consider stashing the money in the bank or investing it in your 401K plan. Your future self will thank you.

And remember, at the end of the summer, “your money looks better in the bank than on your toes.”

Darya Peronti is a staff accountant with Capital and Worth in Wilmington, Delaware. With 100 years of combined expertise, Capital and Worth provides professional tax, accounting, payroll, and financial planning services to individuals and businesses. Capital and Worth: Your money. Our integrity. Visit us at capitalandworth.com and learn how we can help you manage your money.

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