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Renting and Homeownership

How to Budget for Summer + May Renters’ Q&A

How to Budget for Summer

Summertime is right around the corner, and along with poolside fun and vacation days often comes a surprisingly pricey season. One analysis by LendEDU found that Americans spend an average of about $2,229 throughout the summer months.

Summer does not have to derail your budget. With a bit of planning, you can enjoy the season without overspending.

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Start a Savings Goal for Summer Expenses

If you already have summer plans, like a vacation or family trip, starting a savings goal in advance is one of the best ways to stay on budget.

For example, imagine you want to take a trip in August and estimate you will need around $1,000. If you start a sinking fund in May and set aside $250 per month, you will reach your goal by August without disrupting your regular monthly budget. Instead of scrambling when the trip arrives, you will already have the money set aside.

Need help setting up a budget and planning a savings goal? Try Esusu’s Spending Planner template. This worksheet helps you see how you are using your money and where you can cut down on spending so you can save for the vacation or summer plans you have in mind.

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Look for Ways to Save on Your Energy Bill

With the summer sun comes higher air conditioning costs, especially if you live in an area with very hot temperatures. If you are worried about your energy bill rising with the temperature, look for ways to cool your home without relying only on the AC.

A few ideas:

  • Close blinds or curtains during the hottest parts of the day to keep heat out;
  • Use fans to circulate air more efficiently;
  • Use your AC more strategically, focusing on the rooms you use most.

Many energy companies also offer fixed-rate or budget plans based on your energy usage, which can help you avoid large spikes during peak summer months. Talk to your property manager or electric company to see if a fixed-rate plan is right for you.

Need help paying a utility bill? Esusu can help you find support. Visit the Esusu Marketplace to explore resources for utility assistance and other financial tools that can reduce everyday costs.

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Find Free Kids’ Activities in Your Neighborhood

Summer break is exciting for kids, but entertainment and childcare can be expensive for parents and caregivers. The good news: there are many ways to keep kids busy without overspending.

Look for:

  • Free events at your local library, like story time, reading challenges, and arts and crafts;
  • Community events such as free art walks, neighborhood festivals, or outdoor movie nights;
  • Parks and playgrounds where you can spend time outside without spending money.

However you spend your summer, Esusu is here to support your financial journey. Follow @myesusu on Instagram for renter tips, budgeting ideas, and the latest updates.

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Renters’ Q&A

Q: I know rent is due on the 1st, but I usually pay on the 3rd when I get paid. Is that helping or hurting my credit score?

A: What is considered a “late” payment can vary by property. The best way to know how your payments are treated is to:

  1. Check your lease agreement for language about due dates, grace periods, and when a payment is considered delinquent;
  2. Talk to your property manager to confirm whether paying on the 3rd falls within any grace period they offer.

Many properties have a short grace period after the due date before they treat a payment as late.

From the credit perspective:

  • Esusu follows a do no harm approach and only reports on-time rent payments;
  • If a payment is considered late by your property, Esusu will not report that late payment to the credit bureaus;
  • However, payments your property considers late will also not help your credit score, because they are not reported as on-time.

If a resident has multiple late payments, Esusu may unenroll them from rent reporting to avoid keeping an active tradeline that is not consistently used for on-time payments. This helps prevent an unused or short-lived tradeline from weighing down your credit profile over time.

The best way to work toward a stronger credit score is to make full, on-time payments according to your lease terms. If you are having trouble paying rent by the due date, consider:

  • Talking with your property manager about whether there is flexibility or a revised payment plan;

Reviewing whether you are eligible for Esusu Rent Relief, which can help catch up on past-due rent for renters facing temporary financial hardship.

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Q: If I move, can I take Esusu with me?

A: To continue using Esusu Rent Reporting, you need to live in a property that offers Esusu. The encouraging news is that thousands of properties nationwide already use Esusu’s rent reporting and renter financial health tools.

A few steps to consider:

  • When you are planning a move, ask your current property manager if they have other properties in your area that use Esusu;
  • If you are shopping for a new apartment, ask leasing teams whether their properties partner with Esusu for rent reporting.

Even if your new home does not currently use Esusu, the positive credit history you built through past rent reporting stays on your credit reports. On-time payments that were previously reported can continue helping your credit profile for years, even after you move.

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