Tips to manage finances after suffering a brain injury

On Behalf of | Mar 7, 2019 | auto accidents |

Suffering a brain injury can have long-lasting and wide-ranging effects. For many of these victims in Colorado and elsewhere, their financial health is of paramount concern. They may be rendered permanently disabled, but rehabilitation therapy may prove beneficial. Some are even able to reclaim much of their pre-injury lives and participate in the activities they once loved, but others are not so lucky and end up suffering life-long damages. As we have discussed previously on the blog, brain injuries can also contribute to mental health issues that can end up being debilitating. While these conditions, too, may be treatable, the expenses associated with treating these physical and mental conditions can be extensive, especially when a brain injury sufferer is unable to work.

The Brain Injury Association of America offers some money management tips for these individuals. It suggests creating a tight budget, which may mean getting rid of unnecessary technology, such as cable and expensive data plans, and even selling vehicles that are too expensive. Seeking community resources and conducting rehabilitative therapy at home can also help save money.

While Social Security disability benefits and Supplemental Security Income may be available to brain injury sufferers, the truth of the matter is that not everyone will qualify for them. Those who seek them may be denied for a variety of reasons, leaving them with continued financial instability.

Fortunately, those whose injuries were caused by the negligence of another may be able to seek compensation via a personal injury lawsuit. Doing so can help alleviate the damages caused by lost wages and medical expenses. A successful claim may also give a brain injury sufferer as sense of closure that cannot be obtained through government benefit programs.