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The summer isn’t just a busy time for your social calendar. Between all your weekend getaways and backyard BBQs, it’s an eventful season for your budget, too.
With all the extra spending that comes with the summer, unexpected expenses can pack more of a punch than usual. And with the back-to-school season just around the corner, followed shortly by the holidays, you don’t have a lot of time before you’re facing other financial challenges in your future.
Feeling stressed yet? Don’t worry — this article is here to help.
Unexpected Expenses That Can Arrive Soon
Many different areas of your life are under strain during the hottest months. Here are some common things that can go wrong:
- Infestations of ants, wasps, and other pests
- Landscaping and drainage issues
- Damage to your decking or outdoor spaces
- Fallen trees
- Air conditioners, dehumidifiers and air purifiers breakdowns
- Swimming pool leaks
- Sprinkler damages
- Allergies and off-season viruses
What Can You Do to Prepare Your Budget?
Don’t let the term “unexpected” fool you; you can prepare for these unexpected expenses — and without too much effort, too.
Keep Your Line of Credit Clear
A line of credit is designed for these unexpected expenses. Make sure it’s available to do its job by keeping your balance low throughout the summer.
With all the extra spending on vacations and outings, it’s easy to let your balances creep up higher and higher. But you’ll want to pay off your purchases in full by the due date. This trick will keep your line of credit free for an unexpected expense.
Making payments should be easy, as most lines of credit are tied to an online account these days. On-demand payment is one of the many benefits of online options, so you can transfer funds as soon as you can without missing a due date.
Pick Up a Summertime Job
Now’s the time to become a sitter — either of houses, pets, or children. With so many people away travelling, the demand for house and dog sitters surges during these months. You can easily find clients by joining platforms like Rover or CareGuide.
Another popular job is gardener or landscaper. You can make a post on social media or a community board asking if anyone needs help weeding. You’ll be surprised by how many people will take you up on the offer.
The best thing about these jobs is that they require very little upfront investment, and you can set your own hours — which means you can pick up odd jobs around your busy schedule.
Whatever you choose, you can give a sizeable boost to your budget with a part-time summer job.
Negotiate with Your Creditors
If you have to call out for a plumber or HVAC technician this summer, ask them about their financing deferral plans. Many companies let their customers pay their bills in installments, spread out over time. Some may even let you push out your due date by a week if you have the money by then, provided you make them aware of your financial situation.
Approach these conversations with courtesy and be honest about your finances. While you don’t have to pull out your bank book to give them exact numbers, you should explain why you’re asking for financing, so it doesn’t look like you’re asking for a handout.
Bottom Line:
Unexpected expenses can be challenging in the summer, but these tips will help you handle them without wilting under the heat.
