6 Tips to Avoiding the Winter Financial Blues
Approaching cold weather can send some homeowners into a financial tailspin. Between energy costs, holiday spending and being stuck indoors, the winter tab can add up. The financial experts at Broussard Poché, LLP have a few tips homeowners should keep in mind during the winter months.
- Layers, Even Indoors: Turn down the heat and bundle up. Use those sweatshirts and blankets to stay warm this winter rather than cranking up the heat. And use this time to check your home’s insulation to make sure heat isn’t leaking out through cracks.
- Holiday Budget: Budget for Christmas spending beforehand. Take into account debt and current bills. There is no reason to go overboard with gifts, consider some intangible items like “Family Game Night” or “Christmas Cookie Bake-Off” as an alternative to expensive items.
- Use flexible spending: Employees who have contributed money to flexible spending accounts usually have until the end of the year to spend that money. Check to see what’s eligible, things like new glasses, dental exams, and physical therapy will probably be on your list.
- Set Next Year’s Goals: Take the extra time indoors this winter to do a bit of planning for next year. Lofty goals like, buying a new house or car will take some extra planning. You may want to contact your financial advisor for some consulting and managing of expectations.
- Use leftovers: With family and friends come holiday meals and extended visits; be sure to put all of those leftovers to good use. Groceries are often a large chunk of a family’s monthly budget; turn those meals into lunches and dinners.
- Buy a new thermostat: Programmable thermostats let you adjust your heating and cooling when you’re not home. That way you can turn down the heat after you leave for work and have it turn up again automatically before you come home.
Just putting a few of these tips into motion can help you save during the winter months. The experts at Broussard Poché, LLP can also help walk you through a few of the more complicated prospects you may be thinking about when planning for your future.