Although you may have needed a break from work, sitting at home recovering from injuries probably wasn’t your idea of a vacation. Being injured is no fun – especially when it was the result of someone else’s negligence. The severity of your injuries has resulted in you having to sit out from work. Be that as it may, your bills continue to pile up. How do you survive financially when you can’t go back to work right away? Here is some advice below:
Talk with an Attorney
If you were injured by no fault of your own and believe it was the negligence of someone else, you may be entitled to financial compensation. This compensation could include medical bills, pain, and suffering, as well as lost wages. You’ll want to consult with an attorney where you were injured as they are most skilled to understand the laws in that state. So, if you were involved in an auto accident in Manhattan, you’d consult some personal injury lawyers New York NY residents recommend.
Find Out About Disability
Since you’re unable to work due to your injuries, bringing in extra income isn’t going to be an option for you. After consulting with an attorney to see if you’re entitled to compensation, you’ll want to look into filing for disability in your state. Temporary disability benefits are often offered to working employees. Though it isn’t the amount of your paycheck each week, it could help to cover some of your expenses while you’re out.
Cut Back to Stretch Your Income
Whatever money you have to tide you over until you’re able to work again, you’re going to want to make it stretch as far as you can. This will mean finding ways to really save money and cut back. You’ll need to do things like creating a budget, cut back on entertainment costs, and even eliminate certain bills altogether like subscriptions or memberships. You can also contact your creditors to inform them of your status to negotiate lower payment terms, so you don’t ruin your credit while you’re recovering.
Consider Lending Sources
If you’re unable to survive on disability income, you may need to look to lending sources to cover expenses while you’re out of work. You can opt to borrow from your life insurance or retirement accounts, or you could apply for a personal loan. If you’re going to consider borrowing, be sure to only borrow what you can afford to pay with your current income. If you can’t afford to pay it back as agreed, it is best to consider borrowing from friends and family members who may be more lenient.
Apply for Medical Bill Assistance
One of the most expensive costs you’ll have while out of work due to an injury is your medical bills. Even those with insurance may have more out of pocket costs. Repeated trips to therapists and specialists along with prescription costs can get out of hand. To try and reduce this amount, you can apply for medical bill assistance. States like New Jersey and New York have Charity Care programs which are designed to help low-income patients pay a portion or all their medical bills.
Apply for Other Assistance
Since your income has been significantly reduced, there may be more help for you than you realize. Those who qualify for disability can often apply and qualify for government assisted programs like food stamps and affordable healthcare insurance. Both options would reduce your out of pocket costs.
When you end up getting hurt so badly that you get put out of work for a while it can seem like you’ll never be able to survive financially. Although there may be some bumps in the road along the way, you can get by until you’re able to earn a living again. Start by talking with an attorney, then review other avenues to generate income. Lastly, spend wisely and monitor your money, and before long, you should be back on your feet.