A woman in winter clothing prepares for holiday financial emergencies.

How To Plan For Holiday Financial Emergencies

Most of the time, holiday financial emergencies appear out of the blue, leaving us feeling lost and helpless. This year, let’s take back control of our finances by planning and preparing for winter emergencies that could ruin our holiday cheer.

We’ll cover emergency planning by prepping yourself and your home for the winter climate, reviewing your insurance policies, setting aside money for an emergency fund, creating backup plans, and more.

The more you know, the more you can protect yourself and your belongings from a disaster this winter. Here are our tips for financial success and safety this holiday season.

Holiday Financial Emergencies Tips

1. Consider The Climate

One of the best ways to plan for holiday emergencies is by preparing for extreme winter weather. To do so, follow these tips:

  • Create an emergency car kit and home emergency kit
  • Service your vehicle, paying special attention to antifreeze levels, your tires, and having enough gas in the tank
  • Wear appropriate winter clothing outside to prevent illness
  • Sprinkle cat litter or sand on icy patches on your walkway to avoid falls
  • Avoid travel during winter advisories

2. Prep Your Home

Preparing your house for winter is a whole job on its own, but it’s well worth the effort to keep your home warm and safe.

  • Inspect and clean out your chimney before lighting any fires
  • Clean out your gutters
  • Cut back tree branches that hang over your home or driveway
  • Re-caulk your windows and doors
  • Always have non-perishables stocked up at home
  • Check and update your heating systems early in the season
  • Check your smoke and carbon monoxide detectors

3. Review Your Insurance Policies

To prepare for holiday financial emergencies involving your home or car, inspect and update your insurance policies before winter or the new year. You want to ensure your policies cover urgent repairs in the event of winter-related damage.

Weigh your options carefully and choose the coverage that’s best for you. While skipping liability coverage may be cheaper upfront, consider the high costs this could bring if you face an emergency or accident this winter.

A Utah desert in winter represents holiday financial emergencies.

4. Save Emergency Money

If you don’t have any money saved for emergencies, now is the time to start. Even if you can only put away $10 a week, starting somewhere is better than not starting at all. Put this money into a savings account you cannot – and will not – touch and leave it there only for true holiday financial emergencies.

If you don’t face an emergency this holiday season, keep it as a general emergency fund and continue to add to it.

5. Have A Backup Plan

We can’t prepare for every possible emergency, but we can identify financial solutions no matter the situation that comes our way. Imagine if you had an urgent $1,000 expense appear at your doorstep tomorrow, and you absolutely had to pay it. What would you do?

Do you have a relative you can count on? A second job you could work on? A credit line you could pull? Answering these questions will help you get creative with your solutions.

Facing Financial Emergencies With Title Loans

If you aren’t sure about your backup plan, you may benefit from learning more about emergency loans. At Utah Title Loans, Inc., we offer title loans, payday loans, and signature installment loans for individuals facing holiday financial emergencies and any other emergency throughout the year.

What You Need

A title loan is one of the best emergency loans, as it provides between $300 and $15,000 to Utah residents over 18 and facing an urgent expense.

To qualify for a title loan, you'll need the following:

  1. Driver’s License or State Issued I.D.
  2. Lien-Free Title to Your Vehicle
  3. Your Vehicle for Inspection

A white mother and daughter embrace after avoiding holiday financial emergencies.

The Approval Process

Our approval process is fast and simple because we know you need to face holiday financial emergencies quickly. Here's how it works:

  1. Fill out our quick online form.
  2. Our representative will call you to explain how the process works.
  3. If you're ready to proceed, the representative will complete the following: 
    • Arrange to meet with you at the location of your choice.
    • Review your documents.
    • Inspect your vehicle to assess your vehicle value.
    • Determine how much you qualify for.

Once approved, you could have the loan amount that day or the following business day. The best part is that you get to keep your car during the life of the loan so long as you stick to your repayment schedule!

Make A Plan And Be Prepared This Year

Don’t let holiday financial emergencies surprise you this year. With some planning and prevention, you could be one step ahead regarding weather-related accidents and other emergency expenses.

As you contemplate your emergency plan and a backup plan, consider applying for an emergency loan if an urgent bill exceeds your savings. A title loan from Utah Title Loans, Inc. could provide hundreds or even thousands of dollars to relieve your financial burden. Reach out to us today to learn more and get started – your cash is waiting.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.