Disabled? How to Take Care of your Personal Finances

Wednesday, March 16, 2016, AM | Leave Comment

Whether you are born with a disability or you have become disabled in some way, you may be struggling with certain aspects of your financial situation.

Life may be harder for you in many ways than it is for other people, but rest assured that there are some options available that can help you to better manage your finances.

With a closer look, you may be able to take advantage of some of these options so that you can enjoy a more comfortable lifestyle.

  • Go Back to School

    There are scholarships for people with disabilities available that can make it very affordable for you to go back to back to school and to learn a trade that works well with your unique skills and abilities.

    You simply have to research some of the scholarship opportunities available to get started.

    In addition, brainstorm job opportunities that may work well with your mental and physical abilities.

    This is a great way to improve your income potential and to take greater control over your financial situation.

  • Seek Professional Financial Assistance

    Many people, regardless of disability status, are not interested in asking other people for help, but there are financial experts available who can help you to better manage and invest your money.

    For example, if you received a lump sum cash settlement in a personal injury lawsuit related to your disability, you may be able to invest the money so that it generates a regular flow of monthly income for you.

    Even without a lump sum of cash to invest, a financial adviser can assist you in improving cash flow and money management with great results.

    Keep in mind that a lawyer can help you to determine if you have a personal injury case to pursue as well.

  • Reduce Your Overhead

    Many people struggle with high debt balances as well as high monthly expenses, and it is common for individuals regardless of their disability status to push the limit and to live just up to or even beyond their means.

    This can create financial hardship for anyone, and it is best to eliminate some of your expenses so that you can live more comfortably.

    Think about reducing your cable TV plan, lowering your cell phone usage or making other important changes that can help you to live a life with less financial strife.

Life can be challenging when you have a disability, and financial struggles are incredibly common.

These tips will help you to improve your financial situation.

Read more about Mattress and Bedding Guide for People with Disabilities.

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