Unfortunately, money doesn’t grow on trees, which means that when you’re out of work for one reason or another, coping can be tough, especially when you’ve got a family to care for. The fact is that you can’t do anything without moneyit’s true what they say, money makes the world go around. So, when you’re out of work and have no income, it’s often incredibly difficult to cope. Knowing what to do can be a real problem, as you need money to live but no longer have an income, at least for the time being anyway. When you’re out of work and have no income, what are the best ways to get things back on track?
Budget your money
So you’ve got no income, but you might have some savings in the bank. If so, you need to start carefully budgeting your spending and only buying what is necessary. Work out how much money you need a month to survive and work out how many months you can stretch your savings over, just in case you can’t get back to work for a while. To make budgeting easier, there are plenty of apps that you could use, such as Pocket Guard Budget App, for instance.
Depending on why you’re off of work, you may be able to get some help. Say you’re off work sick due to suffering from a serious illness, then you should be entitled to sick pay from your place of employment, as long as you worked full time and worked there for at least six months before the illness occurred. If not, you may be able to get sick pay from the government. If you’re off work because of a serious injury that wasn’t your fault, it could be worth getting in touch with a personal injury lawyer to see if you could make a claim.
If you were in a car accident, a public transport accident, or a workplace accident that wasn’t your fault, you could be able to successfully make a claim and get a payout. The idea behind these kind of claims is to get back any money you’ve lost being off of work, to cover the cost of previous and future medical bills, and to support you in the future if you can no longer work.
Speak to the bank
If you’re struggling to live off the amount that you have, either from sick pay or from your savings, then you could consider speaking to the bank to see if they would give you a loan or overdraft. Obviously, you only want to do this if you know that you will be able to afford to pay back the amount of money that you’ve borrowed as well as any interest that’s added to it. Otherwise, you will just end up getting yourself into more financial trouble.
Money doesn’t grow on trees, which means that if you’re off work for one reason or another, it can often be hard to cope. Hopefully, however, the above tips and advice will help you to get back on your feet financially.