Most people budget for all the gifts and goodies they need to make merry during the holidays, but only some people remember to prepare for the unexpected. After all, you’re busy focusing on all the things that make the season bright: presents, food, and drinks. You don’t want to think about all the ways the festivities can go wrong.
Unfortunately, bad things can happen at any time of year, even the holidays.
The Season’s Top 5 Unexpected Expenses
Being informed is the first step to being prepared. Here are some of the things that can go wrong this season.
1. Household Repairs
You wake up to a chill Christmas Eve because your furnace stops working. Or maybe you’re about to put the turkey in the oven, and the appliance won’t heat past 200F. Or perhaps your water heater has started to leak.
2. Car Trouble
Winter delivers some of the toughest driving conditions, even if you live in a tropical state like Florida. While rare, snow can still complicate your travel plans. Meanwhile, slush, rain, and even colder temperatures can make it harder to brake in time wherever you live.
You don’t have to be in accident to experience car trouble. Your battery might die, or your tire springs a leak right before you’re supposed to leave for vacation.
3. Wintertime Flus & Injuries
You may have to pay for unexpected doctor’s fees and prescriptions in addition to presents. The holidays overlap with cold and flu season. Add to that the stress of the season, and you’re at a higher risk of catching a cold.
You may also need to see a doctor if you slip on ice or burn yourself badly while cooking for your family.
4. Veterinarian Emergencies
The holidays can be a dangerous time for your beloved pets. Cats can ingest tinsel and other sparkly decorations, while dogs can sniff out your stash of holiday chocolate. In both situations, your pet may need urgent care.
5. Miscellaneous Expense
According to a report by Experian, unanticipated holiday costs can add as much as $288 in unexpected expenses to your spending. These might include holiday activities, postage, hostess gifts, gift-wrapping supplies, greeting cards, food, and impulse buys of $5 or less.
How Can You Handle These Unexpected Expenses?
A budget is by far the best way to handle the unexpected at any time of year. You can plan what you can afford to spend and avoid those impulsive purchases that push you over the edge.
A well-planned budget also prioritizes savings. By putting aside, a little bit each month, you might eventually have enough savings to cover a vet bill, appliance repair, or forgotten postage.
Of course, hindsight is 20/20. If you didn’t start budgeting or saving early enough, you might have to rely on a line of credit for help. You can find a local option by searching for lines of credit in your state.
It’s as easy as using this search query in your favorite search engine: personal credit lines Florida. This will help you find online loans in Florida that meet your state’s lending laws.
You can also consider speaking with your vet, doctor, or technician about financing plans. These plans allow you to pay off your bills in increments over time, so you don’t have to put as much on your FL line of credit.
Plan for the Unexpected
The holidays put pressure on your budget, making it harder to handle unexpected expenses. But with a bit of planning, you can always find a way.