Handling Your Finances While You Are Unable To Work

There are several valid reasons that you might not be able to work. Most revolve around being too physically or mentally unwell to be able to carry out the tasks required of you sufficiently well. But when you are too unwell to work, you still need to get by and fork out the costs of everyday living. Rent, bills, food and other necessary sustenance don’t come for free after all, even to the most disadvantaged of us. So how should you cover yourself until you are back on your feet? The most important thing is to know your situation and know your rights. Don’t allow yourself to fall into debt or financial trouble. Here are a few ways to handle your finances when you are unable to work.

Injury Through No Fault of Your Own

Thousands of workers every year are unable to work due to a personal injury experienced in the workplace. These are often through no fault of their own and are the result of others’ negligence. So if you’ve hurt yourself in the workplace and are no longer able to carry out your responsibilities, you are entitled to compensation. Contact a personal injury law firm who will be able to analyse what has happened and determine whether you have a viable claim. If you do, you will receive a lump sum which should help to compensate the pain and trouble you have experienced at the hands of another’s mistakes. Making a claim also benefits other members of your workplace. The employer is more likely to keep on top of health and safety and rectify any issues which led to your injury in the first place.

Pregnancy

If you are pregnant, you may find that you need to take time off work when you reach the later stages of your pregnancy and are less able to get about and carry out tasks that you usually find simple. You don’t want to risk your health or your baby’s health by continuing to work and straining or injuring yourself when heavily pregnant. You will also need some time to care for your newborn once you have given birth. This will let you bond with your child, get into the swing of parenthood and take care of your little one at one of the most vulnerable periods of their life. So know what kind of paid leave you are entitled to. This should be made clear when setting out your contract in the first place, so refer to this. You are entitled to a certain period of maternity leave by law. Check the legislation for your local area and ensure that you receive what you are entitled to. Paternity leave can also be paid if the father intends to be the primary carer of the child during the early phases of their life.

Savings

You may want to plan ahead. Many people do this by creating a savings account for a rainy day. This is essential if you are self-employed, as you won’t receive sick pay. Put a small amount of your wages aside into a savings account that you can dip into if you find yourself unable to work for short periods of time.