Winter is Coming, Did You Bring Your Coat?
Every year Calgarians button down for another frozen four months, and every year mother nature surprises even the most informed of us. Case and point, the -14 degree weather we were blessed with in early October is now average 5 – 10 degrees. It’s a phenominon that few Calgarians will ever fully understand (or appreciate).
Before Christmas arrives many people take a few days to review their financial position and determine what kind of financial shape they’re in. If you’re like us, or anyone else for that matter, how much you spend during th Christmas season is completely dependent on the figures in your bank account. Some have the luxury of a limitless budget, but for the rest of us a little bit of careful planning can go a long way.
Budgeting Around Your Mortgage
Many people budget around their “rent”, or the cost of their mortgage payment and nothing else. What people fail to realize is that there are many more expenses tied into your home than just your mortgage payment. Mortgage-related expenses, such as property taxes, can creep up on you when you least expect it. If you are a new homeowner, these expenses could lead to a very lean Christmas.
Let’s not forget the added expenses associated with the wonderful winter season, either. Notable seasonal expenses include:
- Increased heating costs - Many people can go the majority of the spring and summer without the heat turned on. Come late September, suddenly the furnace is back on and with it comes a nice heating bill.
- Increased gas expenses - While subtle, your vehicle(s) do use more gas in the winter than they do in the summer. These are many reasons for this, but it comes down to the amount of effort needed from your vehicle in order to get it to move the a distance. In the summer, where traction is easy to find, it doesn’t take much at all. However, all the slipping and sliding in the winter makes life particularly difficult for your car. For some, their gas costs nearly double.
- Seasonal maintenance - Drafty windows are a sure-fire way to increase your heating costs and lower your homes temperature in one foul swoop. Just like the seals around windows need to be replaced every now and again, there are numerous seasonal items that require maintenance every winter.
This Christmas season, don’t get caught with your pants down. Take the time to properly budget your Christmas season, as well as the time that follows it, so that there aren’t any nasty financial surprises waiting for you come spring.
About the Purcell Mortgage Team:
Todd Purcell and JoAnne Purcell are the certified mortgage specialists in Calgary that make up the Purcell Mortgage Team. Todd and JoAnne strive to maintain an exceptional level of service to all of their current and prospective clients. Do you live in Alberta and are in need of reputable and ethical mortgage assistance? Contact the Purcell Mortgage Team today!
JoAnne Purcell, AMP