Planning for Unexpected Money

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Planning for Unexpected Money

What did you do with your HST Transition Benefit cheque from the Ontario government?

  • Did you use it to pay down your credit cards?
  • Did you put it into your Tax Free Savings Account?
  • Did you apply it to your Financial Goals?

If you said yes to any of the above – good on you!

However, if you were like many in the Greater Toronto Area, you have little or nothing to show for it.

Here is the good news, there will be two more chances for you to make the most of your Ontario HST transition funds. In December 2010 and June 2011 two more series of HST transition cheques are scheduled to be sent out. Now is the time to plan ahead for how you can best manage these ‘gifts’ from our provincial government.

Windfall Planning

Having a plan in place for unexpected money windfalls sounds like a contradiction in terms – how can you plan for something that is unexpected? And if the windfall is relatively small – how can you resist the temptation to spend it?

We have all been there – suddenly we have a little bit of money we had not expected and we are torn. Our budget is in place and we are on track with our financial goals – so why not spend it? The answer is one of those ‘grown-up’ things that the child in all of us resists: in the long run, we are better off if we apply windfall money directly to our financial goals.

When you determined what your financial goals are, you went through a thoughtful process that identified what your really wanted your money to do for you. You have already established the importance of your financial goals, now what you need to do is make a firm commitment to apply all future ‘unexpected’ money towards your goals.

Looking beyond the immediate gratification of spending unexpected money can be a challenge – but if you have committed yourself to putting it towards your financial goals, the right decision has already been made.

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If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

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I was quite nervous and a little embarrassed that I needed financial advice. I met with Jerry Janiec and he was very helpful. He made me feel comfortable and explained everything in easy to understand terms so that I understood what my options were. I would recommend David Sklar & Associates for anyone in my position.
Melissa Blackburn
19:53 17 Nov 22
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01:59 15 Nov 22
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19:28 14 Nov 22
After seeing your commercial play on CP24, I realized that it addressed all the questions and concerns I had about my financial situation. It all started with my one phone call to your office. I had the extreme pleasure of working with Cori Naron at your St. Clair West office in September 2022. She took the time to explain what my options were knowing that it was a very stressful situation with my debt load. She made me feel at ease with my decision to file a consumer proposal and outlined the benefits to me. She is thorough and her attention to detail is outstanding. While it takes a little while to reap the benefits of making this hard decision, she took the time to reassure me that it was in my best financial interest. Well done David Sklar & Associates for having such an amazing representative at your company and for allowing me to "get a fresh start"!
David
14:31 14 Nov 22
Very highly perfection individual, well executed and greatly knowledgeable in his work, which guided me me the right decisions making opportunities. Thank you.Sincerely, Peter Romasz
Peter Romasz
20:18 13 Nov 22
Trina Powell was very helpful and made the process very easy. Thanks again for all your help.
Jennifer Hager
17:59 06 Nov 22
Jerry is a caring, trustful, knowledgeable and competent Sklar associate. He understood my needs and quickly went to work on my behalf. Ever indebted to David Sklar and Associates and especially to Jerry for his professionalism and caring approach.
David Craig
19:31 31 Oct 22
Jerry Janiec is very knowledgeable and very helpful everything he explained to me was straightforward and very easy to understand. I'm very pleased to be working with Jerry to become debt free. I will definitely be recommending to any friends or colleagues your services.Thank you again for helping me get on the road to be debt free. 5 Stars is well deserved.
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17:41 27 Oct 22
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02:43 26 Oct 22
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