Court fees, lost work, medical bills, and other expenses can quickly put your financial life in disarray. Although your award or settlement hopefully can cover the bulk of these expenses, you will likely need to reconfigure your budget and financial habits as soon as possible. Particularly if you received a large sum of money, consider hiring a professional financial planner or accountant to create a reliable budget, cut unnecessary expenses, pursue lucrative opportunities and take care of tax-related obligations.
Ideally, you should review your financial situation and set a strict budget directly after the accident. Early budgeting can help prevent the financial insecurity that drives many injury victims to settle for far less than they deserve. If necessary, consider applying for government assistance, taking out a loan, or temporarily downsizing your lifestyle (e.g. crashing with a friend to cut out rent expenses) to maintain financial stability in the interim.
Finance management tools
If you aren’t the most disciplined type when it comes to finance management, the following finance management tools can help you stay organized and ahead of the game.
In some cases, settlements or court-awarded money from a car accident lawsuit can be quite substantial. Recipients who don’t have proper money management skills may not know what to do with a wave of new income, and they can consequently squander away more than they intended in a short period of time. No matter how tight your budget might be, practicing smart money management techniques both before and after you receive any compensation will serve you well in the long run.
Building your network
What you need more than anything after a car accident is support. Even if you’re a staunchly independent type who abhors asking for help, swallow your pride. If family and friends offer help, accept it, rather than politely decline. Having someone else meet responsibilities will save you time and energy, and the companionship will be energizing and uplifting.
Also consider reaching out to friends and acquaintances who have undergone similar situations, and get advice. For example, maybe a friend told you about a friend of hers who underwent a legal battle after a car accident. Call this person for recommendations of legal professionals and other hindsight-inspired advice.
Your network can offer support that will change your life dramatically. From your mother driving you to doctor’s appointments to your neighbors delivering home-cooked meals, you will be surprised how much easier your life becomes when you allow others to help you through a difficult time.
For immediate insight into your Nebraska car accident, call Inkelaar Law to get the justice you deserve at (877) 537-4665, or visit www.JusticeYouDeserve.com.