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Let’s say you were in a car accident that you feel was the other driver’s fault. You’re filing a lawsuit against them, and you’re going to get your day in court. Your lawyer says you have a strong chance to win your suit.
In the meantime, though, your money is tight. The accident injured you, so you can’t work at your regular job. You think that you’ll be in better shape when you get a settlement, but for now, you’re barely getting by.
This is a challenging situation, but if you can hold out for a while, your condition should improve. Here are ways you can save your money until the lawsuit yields results.
In This Post:
Restrict Your Entertainment Budget
Before we get into some ways to conserve your financial resources during this time, we should mention that you need to file that lawsuit without delay. That’s because of the limitation statute most states have. In most instances, you must file vehicle accident lawsuits within three years.
One way you can save money while you’re waiting for the suit’s outcome is by using only the very minimum to entertain yourself. That means:
- Getting a streaming service rather than going to the movies
- Having family game nights
- Checking out and reading library books
You can get Netflix or a similar streaming service very cheaply, and you can then access thousands of movies and shows rather than having expensive theater movie nights. Most families have a few board games in a closet, and you can have a quiet evening at home playing Sorry or Monopoly. Library memberships cost nothing, so you can check out some books and catch up on the classics or find some new favorites.
Don’t Eat Out
You can also definitely save a lot of cash by not going to restaurants. This saves you some money because:
- You don’t have to pay any gratuities
- Restaurant food costs way more than grocery store shopping
Even the food at a moderately-priced restaurant is expensive when you put it up against the average grocery bill. Dining out is a luxury, and now isn’t the best time to do it. Also, there’s still an inherent Covid-19 risk, so it’s best you don’t eat out right now anyway.
Get Generic Food Products
You can save money when you go grocery shopping by getting the store brand instead of the better-known name-brand products. Instead of Kellogg’s, you can get the generic cereal. You can do the same for other staples, like pasta, rice, frozen dinners, canned soups, etc.
When you see how much of a difference this makes at the cash register, you’ll wonder why you didn’t try it before. The larger your family is, and the more mouths you have to feed, the more of a difference this technique makes.
Don’t Take Any Vacations
While you’re waiting for that lawsuit money is also not the best time to take a vacation anywhere exotic. Maybe you had a destination in mind, but now you should put off that trip till later.
You should do a staycation where you relax at home with your family. That will save you the money you would have spent on the flights, hotels, restaurants, and attractions at your intended destination. You’ll have a chance to take that trip in the future but now is not the time.
Also, travel is dangerous right now with the pandemic, so again, it’s best to stay close to home for that reason.
Cook at Home More
You can save money by not ordering food as much. Home delivery is convenient, but it’s expensive if you do it often. You have to pay the delivery driver, and if you get your favorites through a service like GrubHub or Doordash, that’s another additional fee.
Buying groceries at home and cooking up tasty meals yourself saves you money. Also, it’s a way for you to sharpen your cooking skills. You can find some new recipes online and try them out.
You can also have family cooking nights where all the family members prepare something for the communal meal. It’s a way you can all have some fun together and contribute.
You might feel sad if the car accident injured you, but if you can show some patience and spending discipline, you should be on better financial footing before too long. Your lawyer can help you win your lawsuit, and soon you’ll have more money in your bank account again.