Tip of the Day for 3/18/21

Today’s Tip of the Day talks about managing money after a brain injury

Individuals who have sustained a brain injury often have cognitive, emotional, and behavioral difficulties that impair their ability to manage their personal finances. The assistance that is required depends on the unique needs of the individual and can range from merely providing help to pay bills to complete management of the person’s financial affairs. It is important to utilize the least restrictive solution to protect a person with a brain injury from their inability to manage finances and to allow the person as much freedom and personal control as possible. In other words, a remedy needs to be found that is tailored to the individual, lawful, and limited to only those activities for which the individual needs assistance.

Tips for Managing Money After Brain Injury

  • Take a close look at monthly expenses and figure out what can be cut and what must be spent to maintain a reasonable standard of living. If possible, refrain from waiting on a cut to be necessary and, instead, make decisions quickly. These may be things like downgrading cable, selling an extra car, or eliminating your home phone in lieu of your mobile.
  • Therapies for brain injury can be costly. If finances are tight, take the opportunity to speak with the clinicians on your treatment team about various options. It may be that you can assume some therapy at home, on your own or with the help of a loved one – that allows you to go to a clinic less frequently.
  • Prepare and follow a reasonable budget.
  • Utilize available social services. The Brain Injury Association of America, and its network of state affiliates, can give you more information on available sources for help near you.
  • If recommended, apply for Social Security Disability as soon as possible.
  • Be open and honest with yourself, your friends, and your family. Tell all your family and friends that times are tight, so for special occasions and holidays, you’d like gift cards.

Check out our learning library at www.alaskabraininjury.net for online pamphlets with more tips on this and other issues that affect those with brain injury.

Source: https://www.biausa.org/brain-injury/about-brain-injury/adults-what-to-expect/adults-brain-injury-financial-issues