Being involved in an accident at any time can be life-changing, especially if you find yourself with injuries that affect your daily life, even short-term. If you receive a windfall for compensation after the event, it can feel a little bittersweet, but there are some ways you can make a real positive out of such a difficult situation.
It can take a while to receive your settlement, so you may wish to speak to someone about Atlanta pre-settlement funding to discuss your options.
Contact a financial advisor
You may never have had such a large sum of money before, and as wonderful as it is, it can also feel quite daunting. You may wish to speak with a financial advisor to really help you make the most of your cash, and give you some useful advice, with your best interests in mind.
It might seem like a simple thing to do, but sometimes receiving money after something terrible has happened can make people feel a little uncomfortable about treating themselves. Remember that what happened isn’t your fault, and after all you’ve been through, you are more than entitled to buy yourself a treat – whether that’s something totally random and frivolous, or something you’ve wanted for a while.
Buy something big
Perhaps you’ve been wanting to buy a new car for a few years but never been able to afford an upgrade. Maybe the money now means you can get that extension done and have more space for your family. Or maybe you can book a trip to somewhere you’ve always dreamt of going. These things can now be a reality, and to be able to have something tangible or experience as a result of this money is a positive thing.
Pay off your debts
The freedom that comes from finally clearing your debts is a fantastic feeling, and it would take most of us years and a lot of hard work to get to that point. With a lump sum, you could, at the very least, put a decent dent into your debts to allow yourself to breathe easier.
Pay it forward
Maybe there is a charity or even an individual that you’d like to help with some of your money. You could donate some cans to your local food pantry, or adopt an animal from the zoo – there are so many ways that you could use even a tiny portion of your settlement to help others.
There’s nothing to say that you have to do anything at all with your settlement. You may just want to find an account with reasonable interest rates and put your money in there to grow until you want it.
Although we would all rather an accident hadn’t happened to us, these are a few ways that you can use your settlement money to turn the situation into something more positive for you and your family.