Staying In Control Of Your Money After An Injury | Get Financial Freedom Tips | Transform Your Financial Future


Tuesday, August 14, 2018

Staying In Control Of Your Money After An Injury

You have other things to think about more immediately after an injury. Getting the treatment that you need and ensuring your safety is priority number one. The problem with the ways that sudden emergencies affect our finances is that we aren’t often in the position to make the best decisions, in the moment. That’s why you need to prepare for the possibility and put the plans in place that can help you stay in control of your money after an injury.

If you have a claim, make it right

Whether it’s a legal claim against someone who was responsible for an injury, or a claim with your own insurance provider, there are many potential pitfalls that can get in the way. When it comes to your own insurance providers, you may find that they deny your claim even if it’s legitimate. If that’s the case, you need help from a disability insurance attorney. If you’re making a claim against another party, seeking the assistance of a legal team as soon as possible is essential to ensure you don’t make any mistakes that could jeopardize it.


Rebudget and rethink

Regardless of whether you’re making a claim and how long it takes, you are going to have extra costs to deal with, especially if you’re put out of work. Until a longer-term solution comes through, it’s essential that you create a new budget, with scaled down costs on non-essential items.

Consider whether you can work from home

In some cases, working in any capacity simply isn't an option. However, if you’re no longer able to attend your previous place of work but you can still use your computer comfortably, it might be worth looking at ways to earn money online at home. From copywriting to selling digital photography, there are plenty of viable and legitimate ways to supplement or replace your income.

Watch those bills

Medical bills are notoriously error prone. Some basic errors can duplicate costs or add fees that shouldn't be there. In more serious cases, a mistake in the bill might see your insurance rejecting your coverage entirely. Following an injury, monitor your bills carefully looking for any potential mistakes. Ensure that you ask for the fully itemized bills, so you don’t miss any of the smaller details that will get sent to your insurance providers.

Keep track of your expenses

Following the new budget will help you cut your costs as much as possible but we are all prone to impulse spending. Getting yourself a treat after a stressful day once in a while is nothing to demonize, but these habits can grow out of control. Expense tracking apps can help you look over your expenses and notice any bad habits that could be costing you.

There’s enough stress and difficulty involved in the aftermath of an injury. You don’t need financial troubles adding to that. The tips above can help you make some of the necessary preparations, as well as acknowledging some of the very real risks you might have to deal with.

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