If you’re hit by the dark uncertainties of life, like being caught up by a disease that will never allow you to go to office again and sit for 8-10 hours to do your job, don’t fret! Because you can still rebound and make it work like it would have worked if you would have stayed fit and fine.
Here are some ways that will help you rebound your finances after being hit by a lifelong disease:
- Shrink Your Leg to Fit in Your Blanket:
- Make Use of Your Emergency Savings:
- Re-Stock Your Emergency Fund:
- Get Back on Track with Retirement:
- Consider Alternative Sources of Cash:
You’ll have to learn to embrace frugality. Because your source of income is hit by your disease and that you are not going to make an earning, at least a stable one, until you work out and make it on your own, you should keep an eye on every penny that you’re spending. For example, you can make day-to-day purchases to get bonus points and cash back, then pay the entire balance so they don’t incur interest charges.
You can make use of your emergency funds to start a business of your own. You can work on accounts of your neighbor’s garage, or a shop, or any type of small or medium business if you were formerly an accountant in your company. That’s why it’s recommended for everyone to save for an emergency fund because nobody knows how it could turn out in the future.
As your business starts giving you revenue, you can rework on your emergency savings. Being a business person now, you’ll have to save not just for your own survival but for the good survival of your business too. Remember, in any stage of life, good or bad, savings is the one thing that will help you stand again in the face of an adversity.
The retirement savings that were on track before the adversity must be brought back on track when revenue starts coming from your business. You don’t know how life changing your business may or may not turn out. That’s a long-term savings like a retirement fund is very important to help you manage when you’re not-so-young or workable anymore.
As you’ll be running a business, you’ll keep encountering small or big funding challenges. These challenges must not be dealt with your retirement funds at least. It’ll be better to consider other alternative sources of cash like online cash advance- a short term loan option that is easy to avail and payback. You can easily draw up to $1000 through online cash advances and negotiate with the lender on the terms and period of paying it back.
Just remember that it’s not your body, but your thought that defines whether you’re hopefully young or hopelessly aged out. So, save the youthfulness of your mind because nobody knows what comes next and which way your life takes a turn, good or bad.