No one ever asks to go through a difficult time in your lives, but that’s kind of the way the world is and sooner or later we’ll all hit a rough stretch of life. After all, it can not only be an incredibly traumatic experience but it can also have a affect just about every aspect of your life. In particular, it can often impact your finances pretty heavily. This can easily make the whole situation far more difficult than it would otherwise be. Having to deal with the financial challenges that an accident or emergency or pandemic can present makes it far more difficult to get on with the much more important process of healing and getting your life back to normal. However, there are a few things that you can in order to make sure that disaster doesn’t leave you in any kind of financial trouble so that you can focus on the things that really matter.

Ask for help

I’d say first and foremost, if you’re in some sort of a stick situation, you have to start by asking for help. This is something that a lot of young professionals are incredibly reluctant to do, and it’s pretty understandable why. Most of us think of ourselves as pretty self-sufficient, independent people, so the idea of reaching out to other people for support, especially financial support, can be pretty upsetting. But as the old saying goes “no man is an island.” You can take care of everything yourself and, whether you like it or not, sometimes we all need to ask for help. Start by relying on your support network of friends and family who will be more than happy to help if you’re in something of a financial bind.

It may just be a small loan to get you to the end of the month, but it’s better to borrow from a friend or loved one than from a high interest lender. There are also ways in which the people around you can support you in non-financial ways and they are just as crucial. Being in an accident can often make it difficult to get around or accomplish simple tasks. Don’t be afraid to reach out to the people in your life if you need help with any of those things. Perhaps you can work, but you’re not in a position to get there by yourself, there will almost certainly be someone you know who is able to give you a lift. Little pieces of support from the people around you can make the whole experience of recovering from an accident far less isolating.

Get the justice you deserve

If you’ve been in any kind of accident then the first thing that you want to start looking into is whether or not you can get justice or compensation against the person whose fault it was. This could be your employer, another driver, or anyone else but if what happened was someone else’s fault then it’s only fair that they take responsibility for it. Talking to qualified personal injury lawyers is always the best first step toward making this happen. Not only can they help guide you through the process but they can take a great deal of the stress of the situation off your shoulders so that you don’t have to spend all of your time worrying about money or legal proceedings and can focus on getting your life back on track as quickly as possible.

There may be other justice that you are owed, in our most current example, the COVID-19 pandemic has seen a lot of government support. If you fall into a category of getting assistance, whether additional unemployment, a stimulus check or as a business owner a payroll protection loan, make sure you are checking the status online, checking with your bank, and doing what it takes to make sure you get the support you need!

Communicate with your employer

After any kind of disaster, there’s a chance that your employment could be impacted. If you’re injured then you may be unable to work for a certain amount of time and if something has happened at home then you may need to take time off in order to deal with it. Or if you’ve been temporary furloughed for a few weeks, you may have some uncertainties around returning. Not only can the inability to work be incredibly stressful but it can obviously have a knock-on effect on your employment status and your income. The best way to avoid these issues is to communicate with your employer and find the best possible ways to ensure that you can find the best possible ways to keep both of you happy during this difficult and incredibly complicated time.

Having an emergency fund

I feel a bit like a broken record but I’l going to continue speaking of the importance of an emergency fund. This pandemic has shown all of us how fragile our finances can be, and whether it’s a pandemic, a car accident, losing our job or a situation at home, something will come to challenge you. It’s not a matter of if, but when. Take the steps NOW to ensure you won’t be thrown off and that you’ll be able to survive the storm. Keep a well stocked emergency fund of 3-6 months of expenses in a separate bank account. Does that feel like a lot of money to put aside? It is, but you’ll definitely be thanking yourself when something challenges you. If you don’t have one, start small, aim for $1,000. Then start growing from there!

The truth of the matter is that you need to be willing to face up to what happened if you want to start moving forward. Hiding your head in the sand might be tempting, and even understandable given what you went through. However, it’s always going to make things far worse in the long run and the best thing that you can do is to face up to the situation and find the best possible ways to deal with it however you can. It’s not always easy, but it is always for the best. 

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