Whether you’ve been involved in a car accident, had a fall in work, or been a victim of medical negligence, there are many personal injuries that can hinder your quality of life physically, mentally, and financially. In many instances, a personal injury may cause you to take time off work, which can result in a loss of income that is hard to be replaced easily.
If you have suffered an injury and are worried about how you will make ends meet, here are five money-saving strategies that you can take on board.
Speak to a Professional
If you are deeply concerned about how you are going to survive financially during your recovery period, you may want to speak to a financial advisor or a solicitor who can help. You can file a personal injury claim at Smith Jones Solicitors – they have an FAQ on claim amounts to check what you’re entitled to. The team has a compensation claims calculator that will give you a rough idea of what your claim may be worth. Smith Jones Solicitors have won tens of millions of pounds for their clients in compensation.
Consider a Temporary Job from Home
Depending on the personal injury you’ve sustained, you may be able to find temporary work that you can perform from the comfort of your home. Whether you can work remotely for the business you are currently employed at, or you’re after something new entirely, just because you can’t get into the office, it doesn’t mean you have to give up work completely. If you aren’t sure what you can and cannot do during recovery, it’s advised to speak to your doctor.
Cut Back on Non-Essentials
If you are having difficulty keeping financially afloat after your personal injury, it may be the right time to cut back on the non-essentials. Whether it’s your weekly coffee shop trip or you like to splash out on luxury brands, there are lots of strategies you can use to keep your spending down. Above anything else, you need to learn how to prioritise so that all your bills are paid, and you have food, warmth, and shelter to keep going.
Use Your Savings
If you have savings, now is the time to make use of them. Whether you’ve been saving up to go on a fun-filled holiday or for a new car, your health and wellbeing should take priority. If you’re hesitant to dip into your savings, try and remember that it’s only temporary and you will soon be back on your feet.
Consider Taking Out a Loan
If you are really struggling financially and need instant cash, your last resort may be to take out a loan. A short-term loan can serve as a safety blanket and make sure you have the funds you need to keep going through your recovery. If you’re worried about your credit score, there are loans that you can take out that only require a guarantor.
No matter what kind of personal injury you’ve suffered, the experience can take its toll on your physical and mental wellbeing. If you’re worried about how you will cope financially during your recovery, all the tips above can help keep you supported.