8. Save money on entertainment

The best things in life are free -- sort of. Believe it or not, there are a ton of fun and entertaining ideas that you can do, even with the most minuscule budget. Read Summer on a Shoestring for some great ideas. It all depends on how creative and adventurous you are. To get you started try some of these ideas, and they're not necessarily summer specific.

Your savings: depending on how creative you are, you could save at least $300 a year.