When Life Hands you Lemons: How to Recover Financially from the Unexpected
There is no denying that money is important in life. What is worse is that life can sometimes use that need against you by handing you lemons in the form of unexpected expenses. The following are four common examples and how you can deal with them.
Medical Emergency
America does not have universal health care like many other countries, meaning you might have to pay for your medical emergency. This can be pretty expensive and hard to pay if you do not have the money.
You can call the billing department to see if there is something that can be done to reduce your bill.
Auto Accident
No matter how defensively you drive, accidents happen. You’re not the only driver on the road, and you have no way to control how everyone else chooses to conduct their vehicles.
Being involved in an accident can have a variety of associated costs. Beyond the obvious insurance deductible, it has the potential to raise your monthly insurance rates.
If your car needs major repairs then you may have to rent a vehicle, take public transportation, or in a worst case scenario even miss a few days of work. There is the also the possibility of needing to pay medical bills if you or your family sustained any injuries during the accident.
These costs can add up and can result in a hefty amount of debt if you don’t have a way to mitigate their impact. Working with an attorney like Zavodnick, Perlmutter & Boccia LLC or someone local to your area who specializes in auto accidents can be a good way to recuperate some of the funds you have lost.
If you choose to work with a lawyer, be sure to do your research thoroughly and hire someone you feel you can trust. The attorney who represents you will have a major impact on the outcome, so you should never choose to work with someone just because theirs is the first name you see.
Traffic Ticket
Cars are almost vital nowadays, which means you probably drive more often than not. You might find yourself getting a traffic ticket for a number of reasons.
Most traffic tickets have gone up, which means you are going to have to pay a lot of money, especially if you do not have any help. If the ticket is connected to a traffic accident, then the best thing you can do to keep cost low is get yourself a car accident lawyer to file your claim properly.
Loss of a Job
Some people think their job is secure, but the truth is that it can be taken away at any time. You probably have a lot of bills to worry about. There are a few things you can do to help.
For one, you can call your creditors to see if they can give you an extension, and start applying for another job. In the mean time, consider getting another stream of income coming in. You could do ride-sharing jobs, or rent out a room in your home if you can for some quick cash.
Inexplicable Robbery
There is no telling when the unpredictable is going to happen, but robberies can occur at all times. The first thing you can do is get a loan from a family member or friend as they should be there in your time of need.
You can also get a check advance though these do come with fees, so make sure you stay on top of those payments.
These are just some things that can hurt you financially and a few tips to help you recover. Hopefully, these suggestions are not needed. You can always call companies you owe to see if there is something that can be done to reduce your bills.
Category: Family Finances, Financial Planning
