Preparing for Winter Costs

Written by David Dixon, EdS ~ 9/2/2024

Winter can be challenging with shorter days and colder temperatures, often bringing a sense of gloom. Rising expenses, however, don't have to add to the seasonal blues. Effective budgeting helps you manage costs and avoid feeling overwhelmed.

First Things to Do:

• Identify expenses as soon as possible by reviewing last year’s costs.
  
  
• Create a Budget: Establish a detailed budget with higher heating and energy costs typical in winter as shown on your monthly billing history.
  
  
• Prepare for Uncertainty: While prices might stay the same, they could increase. Plan this possibility in your budget.

Cut Spending:
Not only should you create a winter seasonal budget, but you should also look for ways to reduce your monthly spending. Consider:

• Evaluate Subscription Services: Are you really using all your subscriptions? Cancel those that aren't necessary.
  
  
• Reduce Non-Essential Spending: Skip a few trips for your regular espresso drink or dining out at your favorite restaurant.
  
  
• Save for Emergencies: Start or contribute more to a rainy-day fund for surprise expenses.

Act to Trim Winter Expenses:

1. Lower the Thermostat: Reducing it by just a few degrees can significantly impact costs.
   
   
2. Winterize Your Home: Check/insulate windows and doors to keep cold out and the warmth in.
   
   
3. Create a Winter Spending Plan: Project your spending for the winter months to stay on track.
   
   
4. Explore Assistance Programs: Be aware of programs that you may qualify for or need during the winter, e.g. explore your utility’s payment plan options.

Celebrate the Season
As Anne Bradstreet wisely said,

“If we had no winter, the spring would not be so pleasant.
If we did not sometimes taste adversity, prosperity would not be so welcome.”

Embrace winter's financial challenges and you'll appreciate the warmth and growth that follow. By planning and making good financial decisions, you will enjoy a comfortable and less stressful winter season.

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