Broken Wallets: How to Manage Your Personal Finances after a Personal Injury - FINANCIAL-24
Personal injuries can happen to anyone and at any time. Usually, they lead to great financial distress as you have to pay for medical care and the fact that you will be out of work for some time.Even people who are covered by health insurance will have to pay a portion of the medical costs. Depending on the severity of the injury, you may have to spend a lot of time from work, and the opportunity cost will mount over months.
It is important to learn how to manage your finances after personal injury as this will help to ease the stress experienced through the period. Here are some helpful tips to help you manage your finances in case of such events:
Find out how Much Money you have
It is not possible to plan your finances if you don't have a specific figure to work with. When calculating your money, be sure to include all assets that can easily be liquidated. Other assets can be used to calculate your net worth, although this figure will only be relevant if you are going to be out of work for a very long time.
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