You may not think that you could end up being a person who can’t work due to a disability, but you may have something left to learn. According to the NHS, over eighty percent of those determined to be permanently disabled were not born that way.

Most disabilities occur as a result of a traumatic injury, illness, or a long-term deteriorating medical condition. Adjusting your way of life to being disabled is challenging. Lessen the challenge a bit, and learn a little about how to manage your finances while living with a permanent disability.

Considerations for your augmented budget

While building your monthly budget, you need to consider the full scope of your costs. Living with a disability means that you may be on a very strict income, so it’s important that you have a good visual representation of where your money is going.

Make sure to consider the cost of your daily medications. If you need personal assistance, there may also be a cost associated with maintaining that service as well. Take time to thoroughly consider what you need, before you design a budget.

Make sure you’re getting what you’re owed

If your disability is going to be long-term, you may wish to consider having a look at the various long term disability plans out there and getting yourself some cover. You will need to capitalize on all the many options you have to draw financial assistance if you cannot work for yourself. Your request for assistance from the Social Security Administration could be denied, and you will need to do all you can to make them reassess your application.

You may also want to sift through the information provided by Disability.gov, as their website is filled with helpful tips and links to get you started.

Protect yourself from fraud

For some unfortunate reason, thieves find those who are elderly and/or disabled to be a good target for their wily ways. Make sure you know what to look for in a scam, and don’t ever provide your social security number to someone over the phone.

You may also want to make a connection with your bank. Your bank can help you look after your finances, and keep an eye out for any suspicious activity when you cannot.

Ways to make a little extra money

You still need ways to make yourself feel productive, and being disabled doesn’t always mean you can’t make money. You can still work while receiving disability payments, but you have to keep your hours low. You can also take advantage of savings which are particular to disabled adults.

Create a financial safety net

Saving money may be a difficult goal to achieve, but time will show that it’s possible if you try. If you’re receiving social security payments, you probably know that you cannot exceed more than $2,000 in assets or you risk losing your support.

Instead, open a PASS (Plan for Achieving Self Support) account. With a PASS account, you can legally save up more than the $2,000 limit without losing your benefits.