Living with a disability can be difficult, especially if you are new to the situation. The financial strain being disabled can place on you and your family can be one of the most significant challenges you face, second your disability itself.
If you’re looking for a simple solution to your financial struggles, you won’t find one. There are, however, plenty of tips to lead you in the right direction when it comes to your finances. Here is a brief look at some financial tips for those living with a disability.
Get the money you are owed
The first thing you need to turn your attention to financially speaking is whether or not you’re getting the money you deserve. If you were disabled by way of an accident, someone is at fault, and thus financially responsible for the rectification of the situation.
Get legal help, if you have been wronged. You don’t have to bear the burden of being disabled with minimal support. Reach out, and make your situation a little brighter.
Design a thorough budget
If you are disabled, you have a very specific sort of income. It’s important that all of those dollars go where they are intended, and your stability is considered a top priority.
Go through your spending habits with a fine-toothed comb, and formulate a more tame budget from the information you acquire. Be honest with yourself, and design a realistic budget. You’ll be more likely to follow the budget guidelines if the terms are realistic.
Apply for government assistance
When you are legally deemed disabled, the U.S. Government provides certain financial supplements to help make ends meet. If you haven’t yet explored this option, there is no shame in receiving government aid when you truly are in need. As you might know, several other governments also provide supporting aid to their people with disabilities. An example is the National Disability Insurance Scheme which is part of Australia’s federal government scheme. They have services like the support coordinator ndis that implements the funds for an individual’s NDIS plan.
Self-employment can help
Being disabled doesn’t always mean that you cannot do anything for yourself. Try exploring your options from home. There are jobs you can do with your hands or your voice that will bring in income for you and your family.
The main concern when working while you are disabled is not to nullify your government assistance. If you bring in too much income, you can lose the other benefits you’re currently receiving.
Protect yourself against fraud
Unfortunately, thieves tend to target the weak. The elderly and disabled are often hit by financial scams, losing everything they have in the bank along the way. Don’t be a victim of fraud.
Thieves aren’t always strangers, and sometimes family members are the worst for draining your bank account. Keep a good relationship with your bank, so they can help you watch over your funds. Also, don’t be the family trust.