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“Watching your pennies” is a euphemism for frugality that aptly sums up the frugal mindset. Frugality is not about cheapness as much as it is being aware of what you’re spending and getting the most for every cent you spend. Unless you are independently wealthy, frugality is essential; by applying frugal rules to everyday life, you can protect yourself from unforeseen and unintended negative financial consequences, such as losing your job. Imagine how bad it would be for someone accustomed to receiving a regular income to lose his or her job as the result of an injury or illness caused by another party. It sounds like a nightmare for anyone who wants to hold on to their cash flow and career.
Preparing for Work Leave with Frugality
There’s a possibility that you may have to leave work because a relative has become ill through no fault of their own. One such scenario in the U.S. saw a couple left to care for their son after he received a faulty vaccine. After taking action against the hospital at fault, they received compensation.
In any case like that, one of your main concerns could be about how you’re going to pay the bills. You may be able to receive statutory pay to meet your costs for the first few weeks. But, should you find yourself unable to work after that what recourse would you have to continue to earn or bring in some form of income? Practicing frugality beforehand should help a bit as you become accustomed to living within your means, living by a budget and spending only what you must on groceries, utilities, entertainment and other bills. After an accident, incident or circumstance disables you from regular work, trying to spend less on food and energy by buying cheaper products could help, but that might not be enough.
What to do With an Accident at Work
In the event of an accident at work, there are rules governing what you may be entitled to. One of the rules concerns making a claim for compensation, which is possible if you prove your finances have been depleted because someone else caused you to leave your job.
I know quite a few people who have been felt that they have no choice but to go down this route. One of my family members recently contacted first4lawyers, a UK medical solicitor company who offered advice on what to do about their situation. They helped them to make a claim for compensation.
A successful claim could result in compensation equivalent to the money lost and bills incurred through illness or injury sustained by yourself or a close relative. I know what to do if I ever find myself struggling after being laid off through injury caused by someone else now. While you’re working hard to make frugality a constant part of your life, if an unforeseen circumstance takes you out of work and a third party may be responsible for that circumstance, getting help filing a solicitation may be something worth exploring. Just don’t forget to keep living frugally should you win a settlement.
Photo courtesy of: Rawku5