emergency fund for the winter months?

[Deleted member 7446]

It’s the 21st century!!!!!!!!!!

You mean snow person ?

Oh yes sorry I forgot the PC crowd 

 

[windowsurfer]

Snowpersons are 'cool' about such things, as if they get heated up about it, they just melt away.

 

[windowsurfer]

If I was ever to get snow here I'd just let the tires down by 15 psi and drive slower with an increase footprint or stay at home and make a snowman 

I go up some dirt tracks to properties n these tyres are the closest thing to 4x4 style tyres I can get. I work in the countryside in scotland, so the roads could be a bit iffy, hopefully not, but just trying to protect myself from what the weather might throw at me. If its snowing, I will be sledging, hopefully not in the van.

 

[Iron Giant]

It’s the 21st century!!!!!!!!!!

You mean snow person ?

Snow persons are sooo last decade we make a polar bear ?‍

 

[dazmond]

Its great to have an emergency fund but it can make one lazy. I don't have one because i have spent all my money on equipment. That's the main reason I force myself to get out and make money. After buying everything I am now looking at paying extra each month to my mortgage and get it cleared. That's my focus now and will contact bank to see how much I can pay. ?

Why would it make you lazy?....strong self motivation and discipline is key to a successful one man business IMO...

Ironically enough it's the same qualities you need to build up a good emergency fund over time ready to spring into action when needed....

 

[Bart90]

Aye, just found out its a bit of a minefield.

If you want to overpay by more than 10% just put the money aside, wait until your fix ends and your eligible for remortgage then reduce the balance without penalty & at which point you'll have a much better LTV & highly likely get an even better deal either with your existing bank or a new one. Worth shopping around at the moment, there are some great deals to be had. Believe it or not even if your stuck in a fix it could still be better off to ditch it and take the hit of early repayment depending on the new deal. Worth doing the maths. 

In answer to the original post, I've not bothered with winter funds. The worst I remember was 2013 - three weeks off iirc but I got by.  I always have a 0% credit card on the go which tends to iron out any bumps in the years finances.

 

[dazmond]

Relying on a credit card for emergencies is not ideal though....you ve still got to pay it back

 

[dazmond]

A window cleaner I used to work for back in 1992 always said to me 'get 10k behind you and you'll be alright'...I thought he was mad!?.....he broke his pelvis when he fell off his ladder a few years previous and had 6 months off.....you couldn't live off a credit card for 6 months without incurring a lot of interest to pay back too....

 

[swc1]

im down to 4 days a week now...no more than 25 hours per week including end of day jobs and admin,etc.....?...ive finally got this window cleaning lark sussed after 28 years!

Time builds patience and a great cash flow!

 

[swc1]

With winter coming it's key to be prepared and ready for a cold snap.

It really all depends on where you live geographically and the area of your business.

Money is key however winter isn't a big a hurdle if you've worked in an extreme one before, you should always set aside money to cover yourself regardless of the season change.

Prior planning & preparation prevent P155 poor performance 

Ensue your vehicle is road worthy 

Have you any winter driving experience 

Vehicle weight and handling 

Your and your equipments ability to function in cold weather 

Communication with your customers is key and staying in touch when the white stuff falls out of the sky 

Great reply!

 

[Deleted member 7446]

I think the best preparation for winter with regards to the current climate is food fuel and money

With the HGV shortage and so called bad weather is vital to stay afloat 

 

[Davy G]

I think the best preparation for winter with regards to the current climate is food fuel and money

With the HGV shortage and so called bad weather is vital to stay afloat 

I agree. I keep the fuel tank topped up in the workvan. My wife always keeps her car tank above three quarters. In the campervan which doesn't tend to do big mileage frequently these times I keep the tank at, or very close to full as a reserve for the work van if the fuel crisis gets really bad. I bought a 12v Sealey diesel transfer pump at the start of the shortage just in case.

 

[Deleted member 7446]

I agree. I keep the fuel tank topped up in the workvan. My wife always keeps her car tank above three quarters. In the campervan which doesn't tend to do big mileage frequently these times I keep the tank at, or very close to full as a reserve for the work van if the fuel crisis gets really bad. I bought a 12v Sealey diesel transfer pump at the start of the shortage just in case.

Good practice mate. I have 220L of diesel stashed away for a rainy day in a sealed drum and also have a fuel transfer pump to hand. 4 generators and more British army ration packs than I need haha 

 

[Davy G]

Good practice mate. I have 220L of diesel stashed away for a rainy day in a sealed drum and also have a fuel transfer pump to hand. 4 generators and more British army ration packs than I need haha 

Our supply infrastructure is very fragile. It's wise to have some reserve supplies in. No different to having a good stock of spare parts for our equipment, as long as we keep it sensible.

 

[adamangler]

Been doing this 6 years and never been forced to have more a than few days off due to weather. Would be really unlucky if we couldnt work for a month. I remmber 2010, i was  a delivery driver and although it made things difficult for a couple of weeks we didnt lose that much work just cracked on.

My outgoings are low i could probably survive on £1000/£1500 a month before i had to dip into savings.

 

[Bart90]

Relying on a credit card for emergencies is not ideal though....you ve still got to pay it back

That's true of course but as a short term fix it's served me well and means I don't ever dip into my own reserves.  As long as it's 0% it's a very smooth way of managing the monthly ups and downs. Not for everyone though. 

Our supply infrastructure is very fragile. It's wise to have some reserve supplies in. No different to having a good stock of spare parts for our equipment, as long as we keep it sensible.

I was so lucky that purely by chance I had chosen to top up my work car the week before the fuel crisis even though i was only on half full and had no idea it was looming!  I was in the country, had finsished early and just thought I'd use my time efficently and fill up at a rural station.  So glad I did, lasted the whole crisis without refilling!  Totally agree on spares, over the years I've doubled up on everything. Two suitable vehicles, both insured for business (the second doubles up as a family motor but is practical if i needed it!), two trolleys, two backpacks, spares, poles.  Well worth doing to stay on the glass ?

 

[Bart90]

I think the best preparation for winter with regards to the current climate is food fuel and money

With the HGV shortage and so called bad weather is vital to stay afloat 

Really? I only stockpile loo roll;  I'll give those other things you mentioned some thought ?