After being involved in an accident, whether it’s a workplace injury or one you’ve sustained elsewhere, your physical well-being is understandably at the forefront of your mind. When you’re hurt, however, it’s possible that you’ll need more time to recover, which can cost a lot of money. So, if you can not go out and work to earn money, what would you do? We have some suggestions for how to manage your finances after an accident.
Inform your utility and bill providers
You may be concerned about how you’ll pay your bills this month, and speaking with your service providers is a simple way to avoid incurring additional fees! Call them to inform them of your situation. They’ll be able to set up a payment plan and avoid any late payment penalties. It’s no different than your rent or mortgage! Explaining your situation will help them understand why you missed a payment or two, and they will be able to provide you with as much help as possible. Before you get back on your feet, you might be able to get a payment holiday from your mortgage lender.
Look into your compensation options
You may be eligible for financial assistance if you’ve been injured in such a way that it’s changed your entire lifestyle. If you believe you have been permanently injured as a result of your accident, contact a personal injury attorney to see if you are eligible for compensation. Did you know that attorneys help get compensation for job injuries as well as normal accidents? This will also assist in the protection of any investments you may have.
Start a side hustle working from home
So you can’t go out and work right now, but that doesn’t rule out the possibility of earning money from the comfort of your own home! You could start and monetize a website, or if you have a skill that can be done online, such as graphics design, proofreading, or even freelance writing, you can advertise your services and take on jobs on Upwork and Fiverr to supplement your income. While you’re recovering, you might be able to earn a decent amount of money on the side!
Borrow from family and friends
It’s critical not to let pride get in the way of your finances, especially when you’re just starting out. Speak with family and friends to see if they can assist you in some way before you are able to get back on your feet. Every little bit helps, whether it’s them buying you food or taking care of your children instead of paying for child care. Even if it’s a loan you intend to pay back, it’s much better to stay on top of your bills rather than falling into debt.
Talk to your boss
Your boss might even be able to help you out financially. Examine your contract to see what sick leave policies are in place in the event of an accident. Alternatively, you can contact them directly to see what help they can provide! You might find that they’ll let you work from home while you’re recovering, allowing you to keep earning money!
(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)