A recent injury can leave a person temporarily unable to earn a regular living in New Hampshire. Insurance claims can take a while, and that is if the insurance company does not put up a fight. In the meantime, bills pile up.
Your Money Site provides money management tips for anyone who suffered a recent injury at work or off the clock. Putting the suggestions to good use could make life and recovery a bit easier.
Current spending habits
Sitting down and seeing where money currently flows out is a good idea. There could be unnecessary spending going on, and differentiating the essentials from the nonessentials is a must.
Examining money in a savings account is another good idea, as is deciding on the best way to use that money if doing so becomes necessary. Hopefully, digging into an emergency savings account will not become necessary, but planning for the worst is always best.
Injury effects and financial capacity
As pointed out by CreditCards.com, some injuries, such as traumatic brain injury, can make it difficult for a person to make competent everyday financial decisions. Getting help from a trusted friend or financial professional could be of great help.
Creating a new budget
Drafting a new budget helps ensure a person spends every penny wisely. An injury could bring in new expenses or eliminate others. For instance, having a gym membership may not make sense with a broken leg, but that injury could require a prescription.
One may need to sell unwanted items around the house to make extra money. Working from home could be an option, and the same applies to becoming an independent contractor.
Apps, tools and other such money management resources are available to injured individuals. Using them can take a lot of headache out of the recovery equation.