Depending on where you live you may already feel the effects of fall or it may still be quite warm. Either way, winter is coming and it would be better to prepare than to be…left in the cold. We remind you that you need to prepare for winter holiday expenses such as gifts, travel, and holiday meals so we’d be remiss if we didn’t remind you of some other cold weather expenses. No matter what your regular expenses are, you also have seasonal expenses that tend to appear during certain time of the year.
Heating bills: If you live in a cold climate, you have to prepare to pay more to heat your home during the winter. If you’ve been overwhelmed by these expenses in the past, brainstorm some things you could so differently. Some utility companies let you spread payments out throughout the year. Other people may need to either pay for or save for better insulation or new windows.
Car repair: Your car’s current condition and the state of the roads where you live combined with cold weather could mean winter car repairs. One way to help prevent some possible issues is to have routine maintenance performed on your car before the cold weather sets in.
Clothing: If your family has all that is needed for the winter (boots, hats, coats, scarves), then you can congratulate yourself. If not, think about how much you want to spend rather than just picking up winter clothing items as you go along.
Perhaps winter is your season of high spending or maybe your season of high spending is spring. No matter the case, a Fee-Only financial planner can help you identify patterns and work on strategies to make sure that you are spending and saving in ways that align with your financial goals.