There are times in life when things happen that rock the financial boat. One moment, you may be gently cruising through a mill pond, the next you may find yourself trying to dodge an iceberg. It can be very difficult to stay afloat in choppy waters, but there is almost always a way out. If you’re trying to navigate your way out of a potential crisis, here are some practical solutions to bear in mind.
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Losing your job
For many of us, having a job doesn’t just mean getting a paycheck every month. Employment also gives us a sense of security, and it also helps to promote confidence and wellbeing. If you lose your job, it’s natural to be anxious about the future, especially if you have bills to pay and mouths to feed. Try not to panic, and plan your next move. Update your resume, sign up with online job sites and register with recruitment agencies. Search for temporary positions if there’s nothing more permanent out there. You can carry on looking while you have a short-term job, and earn while you find something more long-term. If you’ve been fired or you’ve been made redundant, and you’re unclear about your employment rights, or you feel like you’ve been mistreated, talk to your boss, and consider seeking legal advice.
Illness, accidents and disability
Life is incredibly unpredictable, and accidents and unexpected incidents occur on a daily basis. If you’ve been involved in an accident and you’ve sustained life-changing injuries, or you’ve developed a severe illness that affects your ability to work, it’s understandable to worry. Not only are you trying to come to terms with the fact that your world has changed, but you’re also concerned about how you’re going to support yourself and your family. If you have insurance, one of the first steps to take is to file a claim. Take your time to fill in your application, don’t hesitate to ask questions, and be prepared to challenge the decision and talk to a legal expert if your claim is turned down. You can find more here. If your health does impact your earnings, it may also be possible to claim financial assistance, and it’s worth finding out if you’re eligible for support.
Relationship breakdown
The breakdown of a relationship can be heartbreaking, but it can also be very costly. If you’re married, you have children, or you own assets, such as property or a business, you’ll need to consult legal representatives. Look for a firm that has expertise in family law and make sure you’re clear about what you expect from the separation. Legal processes can take a long time, so be prepared to be patient.
You may think that you’ve got a firm handle on your finances, but would that be the case if a bolt came out of the blue? It can be very difficult to plan for a future that is uncertain, but there are steps you can take to stay on track if life doesn’t pan out as expected.
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