Now that your house is safe and prepared for the cold Canadian winters, consider adding a little extra insulation to your finances as well. With the fast approaching holidays, winter necessities, and extra bills piling up, it’s best to be prepared for the more stressful parts of winter. This way, you can enjoy your holiday season and all it’s trimmings without stressing over surprises.
Below, we’ve outlined a few tips to ensure you’re prepared for any possibly financial emergencies that could arise during the winter months:
Set up an Emergency Savings Fund
Winter brings with it the possibility of emergency costs, such as new snow tires, a new jacket, and sometimes a new heating system for your home. If you haven’t already set up an emergency savings fund, start now. This rainy day money will ensure that your family never goes cold and you’re less likely to stress, when you have the financial cushion of extra funds to help out in such scenarios.
Budget your holiday gifts and when possible, and purchase early
During the festive season, dinners, parties, and family gathering can begin to cost more than you’d expect. If you’re intending to buy gifts, whether personalized for family and friends or generic for hosts and clients, start buying early. By keeping extra gifts on hand, or preparing for those gifts you already have in mind, you can prevent excessive or frantic spending in the busy weeks before. Preparing ahead also allows you time to budget, thus ensuring you don’t overpay or overspend on gifts you don’t need to.
Keep all important documents organized and together
Winter roads brings more car accidents; just as winter weather brings more issues with your home heating or water systems. Although you can’t always prevent emergencies from happening, you can prepare yourself and be proactive when they do. For this reason, the fall months are a smart time to ensure that all your important documents, phone numbers, contracts and more, are kept safe and organized. This way, you’ll be able to handle whatever the weather throws your way, without the added stress or panic disorganization can produce.
Preparing to sell/Have you sold your home in the fall and winter months, and now can use an advance on your equity before closing day, perhaps you need money for winter proof repairs or a new home deposit? Tembo Financial can help! Tembo offers this unique service to homeowners in Ontario and the GTA. You could receive your money in as little as 48 hours with no credit check and no appraisal* for expenses that matter to you. Don’t wait, start today!
*Subject to qualification.