Making sure that there’s enough money in the bank account to take care of all your family’s needs is tough at the best of times. When there’s a spanner thrown in the works, it can seem like everything is going against you. Take an injury. If you’re forced to take time off work or to use your family’s money to get better, then it can feel like both options are unappealing. Go back to work, and your injury suffers. Focus on yourself, and your money can suffer. Below, we take a look at a few options to make sure an injury doesn’t have to cause any more harm than necessary.
Talk to your Work
If an injury is going to keep you away from work, then it’s likely that you’ll have to make do with taking home less money than usual. But you shouldn’t automatically assume that this is the case. By talking to your employers about the situation, you may be able to come to an agreement that’ll ensure your salary doesn’t have to be affected. If you’re a valued employee, then they may give you as much time as you need, or allow you to work from home while you recover.
Make a Budget
You likely already have a family budget. But now that your circumstances have changed, you’ll want to take another look and make some adjustments wherever possible. After all, your current budget is set for a particular lifestyle and income; now that your lifestyle and income have changed, so does the budget. Most people are able to reduce the expenditures significantly just by making a few small changes. See what luxuries you can live without for the time being; they can always be added again later.
Look for Compensation
Sometimes, the fault of an injury will rest entirely on your shoulders. But in many cases, there are other parties responsible for what happened to you, and as such, they should share the responsibility for your well-being. If you were injured at work, talk to your employers; they will have insurance for these types of things. If your injury occurred on the roads, contact a car accident injury lawyer and seek compensation. Even if financial compensation doesn’t heal your injury any quicker, it’ll ensure that your family’s finances are not put in jeopardy.
Ask Friends and Family to Help
It’s easy to fall into the trap of thinking that we’re facing the world all on our own. But this is rarely true: you likely have plenty of loving friends and family who are willing to help you. If you need some extra cash to help make ends meet, consider asking those close to you for a short-term loan.
Finally, remember that preparation is the best key to long-term financial health. If you haven’t already, start an “emergency fund,” which will be a lump of cash to be used in emergencies. No-one ever regrets having some extra money to fall back on when the going gets tough.
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