Living with a disability can be expensive, really expensive. While just getting through day to day life can be a challenge unto itself, when you are disabled you have a whole other world of financial troubles that average Johnny doesn’t have to deal with, or even know exist! Affording to pay for apparatuses and aids to help yourself, paying for in-home care, finding money for medications, then there are therapy costs, regular doctor visits and organising suitable transport. So on and so forth, the list just goes and goes. Being disabled definitely puts a real lock-down on your wallet. Below I’ve put together some steps, you can take right now, to help you be able to afford some of life’s luxuries, that you so deserve.
First off, you need to consolidate your finances. Read more: https://www.debtconsolidation-loans.ca/ The reason most people, handicapped or not, fail to get out of debt is because they skip this crucial step. If you don’t re-group your bills, how can you really keep track of how much money is being paid off credit cards, back to student loans, off the mortgage and so on? You can’t. Everyone I know that has their finances together has one thing in common. They’ve all pulled out a piece of paper, drawn a big line down the middle of the page and on the left written down how many different debts they have. Then on the right how much they’re paying toward that account each month. The numbers don’t lie. I remember being gobsmacked the first time I did it and saw the totals.
It should be immediately apparent that if you want to avoid bankruptcy, you can’t keep heading down this ludicrously twisted path of paying off some dollars over here, a loan over there and some other credit card bill over yonder. Staying inside this haphazard, never ending loop of bills will end in tears and repossession. You need to stop while you still can and consolidate it all. Read more: https://www.debtconsolidation-loans.ca/debt-consolidation-strategies-for-canadians/ Unfortunately the banks and credit card companies don’t care if you’re unable to work a regular job because of your ailment. To them money is money.
Next, you have to work out your necessities. From those columns, what do you absolutely need to live comfortably with your condition? For example if you are bedridden, then you will require living assistance. If you’re in a wheelchair but paying off a specialized automobile to get to you to and from your job, then that can’t be helped. If you’re amassing student debt or maxing out credit cards because of obligations going toward advancing your life and/or career, then they can’t be helped. We’re talking arrears from things like subscription services you no longer use but haven’t cancelled. Products you buy and use once. Clothing you order online that doesn’t fit and your condition makes it hard to get to a post office to return it. All these little things on a credit card add up a lot faster than you may realize.
Once you’ve got your necessities sorted into one group, you want to figure out all the individual interest from those various accounts, loans, cards and repayments. Write down these amounts and then add them up. I know! It’s a heck of a lot more than we all realize. If you add that amount up each month, it winds up costing you and arm and a leg, and let’s be honest, we disabled can use all the spare limbs we’ve got!
Finally, you have to look at taking out a low-interest consolidation loan. Read more: https://www.debtconsolidation-loans.ca/debt-consolidation-loans/ This will allow you to pay all your arrears off and fix up any dues you may owe friends or family who’ve helped you with your disability bills. Taking out a single loan and eliminating these monthly charges in one big swoop will cost you less in interest, than all the various bills and pieces combined. This will give you a chance to get back on top of your finances and start living a more debt free life. With less money owed and more coin in your front pocket, you’ll even be able to splurge on the occasional life luxury.
Managing your finances is not easy if you haven’t learned how to do it. Debt can accumulate really fast, and become unmanageable if you are not careful. You have to be extra careful with credit card debt, as it’s cost it’s high. If you get a credit card like Simplii, make sure you pay it off in full every month.
Most of us go through life without suffering from any really significant learning disability. Sure, we may never learn a recipe off by heart, needing to repeatedly look at the instructions every time we make a meal, but we can still make the meal without any real difficulty. Unfortunately for people suffering with some kind of disability, they can have real trouble making the meal, on varying levels. From being unable to read because of a physical ailment such as blindness to suffering a mental impairment caused by an accident or they’ve been living with their entire life. No doubt about it, having a disability not only makes life more tedious but it can put a significant downer on learning new skills. So I’ve put together a great resource of Canadian places and associations that offer educational aid and assistance for those needing it.