Money Management Tips for Disabled People

Managing your money can always be difficult, but it’s often harder if you’re disabled. Disabled people often have a lower income, might be unable to work or can have higher expenses due to a range of factors. If you have a disability and you want to manage your money properly, you might be unsure about where to even start. Perhaps you’re already dealing with money troubles, and you’re worried about how you can survive financially. It’s important not to ignore your financial situation and to make sure you take necessary steps to get your money organized.

Make Sure You Get All Benefits You’re Entitled To

If you have a disability, you should check that you’re receiving any benefits that you might be entitled to. This might mean Social Security Disability or perhaps payments from an insurance provider. It’s not always easy to get what you’re entitled to or even know what you can access, so it can help to have someone to advise and possibly advocate for you. If you have disability insurance, your provider could pay out if you become disabled. However, insurance companies are often reluctant to keep their promises. A free consultation with a lawyer can help you to find out if there’s anything you can do if your insurance company turns down your claim. You might be able to fight the decision and claim the money owed to you.

Get Help with Managing Money

Managing your money on your own can be difficult. If you’re finding it overwhelming or struggling to understand your finances, you can get help. You might want to ask a friend or family member who you trust if they can help you. It can also be beneficial to get professional help both online and in-person from advisors. You can use resources like the Council for Disability Awareness or Disability Advisor to get advice. There are also various assistance programs that you might find helpful.

Create a Budget

Setting a budget is vital if you want to manage your money well. You need to look at how much money you have available each month and how much your expenses amount to. After comparing the two, it could be time to take a look at the ways you could start saving. Perhaps you can save on your energy bills, spend less on food or make a saving on your transport costs. Even small savings can add up so that you can budget your money a bit better.

Find the Best Way to Work

Not all disabled people are able to work but if you are, you might need to explore a few different employment options. What’s the best way for you to work that enables you to use your skills while still maintaining a good work-life balance and looking after your health? Some people might find that working from home is a good option for them. Others might need to make sure they have the right support to work elsewhere.

Organizing your money and improving your financial management can help you a lot. If you don’t know where to start, get some advice to start your financial journey.