Thursday, March 28, 2019

Keeping Afloat: 4 Tips for Staying Financially Stable after an Accident

Any kind of accident can be life-changing. Even if you’re not severely injured, any injuries that you do sustain can result in not being able to work as you did before the accident. 

This means that you won’t be able to support yourself or your family in a financial manner, which can then lead to getting behind on monthly bills that include your house payment or utility payments. Fortunately, there are a few tips to keep in mind so that you do stay financially stable.

Make Phone Calls

Before you get behind on your finances, contact the people you owe money to so that you can make payment arrangements. Many companies will work with you to accept a lower payment each month or even extend the number of payments that you have as long as you are upfront about your situation. Stay in contact with all of these companies to show that you’re willing to make an effort in staying on top of your financial obligations.

Seek Help

Consult with an auto accident lawyer who can often help you file a suit to get money for your injuries and lost wages. Give the attorney all of the information that you have about the accident as well as medical records and details about your finances. Your attorney can do the work for you regarding talking to insurance companies and working to get the best settlement.

Better Budgeting

Take the time to go over your monthly budget. Since you might not have as much money to work with, you need to examine the things that you have to pay each month and the things that you can set aside until you’re financially stable once again. 

Any subscriptions that you have can often be pushed aside as well as any entertainment expenses that you can do without. Think of ways that you can save money each month, such as buying items when they are on sale or turning the lights off in the home unless someone is in the room.

Side Work

There are often several people who are seeking assistance doing things that they can’t do on their own. Talk to some of the people in your community about odd jobs that you can take on, such as raking leaves or cleaning a house. You can also advertise your services to try to make extra money.

With a little more organization and making a few phone calls, an accident doesn’t have to set you back. You’re going to have to stretch the money that you have, but if you detail your budget and seek assistance when needed, then this can be a time when you can stay on top of the essential payments that you need to make. Keep in mind that your family is there to offer assistance along with organizations and your attorney.

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