Sorting Your Finances After A Traumatic Incident Or Unexpected Turn Of Events

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Life has a habit of throwing up the most expected of incidents and events! Perhaps you’ve experienced a traumatic incident, like a car crash, for example. Or maybe you just experienced a rather unexpected turn of events. Perhaps you got a huge and unexpected pay rise, or a redundancy came out of the blue. Perhaps you got pregnant with your first child or your sixth! Maybe a house move has fallen through, or you’ve had to up your previously agreed price in order to keep hold of it!

As you can see, these kinds of events can be many, and they can be varied. What you do about each of these things varies just as much.

However, one thing that each of these things has in common is the fact that keeping on top of your money is so important. Once things are over, and the dust has settled? You will be faced with the significant task of re-sorting your finances. Maybe they will have taken a hit, or maybe they will have taken a leap. Perhaps there will be things you can do to get a security blanket of money to get you through while you readjust, like a loan or a settlement even.

In this guide, we’ll take an overarching look at how you can sort your finances after a traumatic incident or unexpected turn of events. Read on to find out more.

The first thing we will discuss is sorting your finances after you lose your job. What your next course of action is depends on you. One option is to find another job of equal pay so fast that your finances don’t take a hit. However, we all know how challenging the job market can be. You might be working in an industry where work is hard to find. Of course, the longer a person is out of work, the harder it can be to get a new job. And while this is happening, your savings might be depleting. Consider taking out a next day cash loan. This will help keep you on an even keel while you keep looking. Of course, there is also the scenario where you have been fired or let go unfairly, or for a reason that is against the law. If you feel that you have a legal case against your ex-employees, look at taking this forward properly. You may be entitled to compensation.

Of course, the opposite of this kind of thing is if you have received an unexpected promotion or bonus at work. While relatively rare, these kinds of things do happen. Let’s say you’ve just received a bonus at work of a few thousand; it’s enough to make a difference! While it might be tempting to blow this or treat yourself on something big, put it into a savings account. This is a far more responsible move! It makes the bonus really count for something. If you put it into a high-interest savings account, when you do go to it in the future, there may be even more there than before!

Most things that happen in the workplace are likely to fall under the category of ‘unexpected turn of events’. But in the case of sustaining an injury, this could well be categorized as a ‘traumatic incident’ instead. Sadly, the human body is not resistant to all things. We can get injured, and frustratingly, this can sometimes be through something that wasn’t our fault. Let’s say you have been in a car accident, for example. The event itself could have caused irreparable damage to your car. You resulting injuries could mean you need to spend time in a hospital. In turn, you might have to take time off work, meaning you can’t earn and can’t provide for your family. It’s easy to see when laid out like this, why looking for a legal settlement is so wise. Companies like The Pearce Car Accident Firm specialize in car accidents, so are a suitable port of call for this kind of incident. There will also be other firms out there that specialize in whatever reason you have for having sustained your injury. Give them a call or email them. You could well have a case worth pursuing, and it’s worth knowing either way at least.

To move onto an entirely different topic now, let’s look at how you can manage your finances after finding out you’re pregnant. Fingers crossed this news has come to you in a happy way. It could be that you have been trying for a baby for some time. During this time you have started saving and putting things in place. But if the baby is out of the blue, but you want to keep it? Be aware that there are free things out there you can find to help support you. Some companies might send you a free pack of nappies just for signing up to their mailing list, for example. It could also be worth entering some competitions on blogs about being parents or raising children. You could win a usually quite expensive item, like a cot or a pram. As these are items you will have to source anyway, you might as well try and get them for free! While you are on these sites, be sure to look for money off codes and coupons. Even just 10% off can add up to a lot when it is something you will have to buy often.

After something like a traumatic incident has occurred in your life, the first thing you are going to need above all else is a support network. At your time of need, you need your friends to help and support you. If you need to ask a friend for financial help, be sure to pitch it to the properly. Casually dropping ‘Can I have a loan’ into a conversation at the bar might not be taken seriously. Sit them down with a proper proposal. Explain exactly what you need the money for and why. Explain the other options you have exhausted. Make it clear that it would be a loan that you have every intention of paying back. Give them an idea of when you plan to pay the money back by and how. If they can see you are taking it seriously, they are far more likely to trust you and take it seriously themselves.