Social Security Disability (SSD) benefits help millions of disabled individuals and their families make ends meet, but this program has a lengthy approval process. If you’re not currently working and in the process of applying for benefits, you’ll need to pay close attention to your finances.
Don’t Wait to Apply for Benefits
The biggest mistake people make is waiting too long to apply for disability benefits. Admitting the seriousness of your condition is understandably difficult, but it can take between a few months to a few years to be approved for benefits. You should apply for disability as soon as your doctor tells you the medical condition preventing you from working is expected to last at least 12 months.
Balancing Your Budget While You Wait for Disability Benefits
Every situation is different, but the following are ways you can ease the financial strain while you wait for your disability benefits to be approved:
- Apply for any other public assistance program you might qualify for such as Supplemental Nutrition Assistance Program (SNAP) benefits.
- Contact local social service agencies such as United Way and the Salvation Army to inquire about the assistance that may be available.
- Go over your household budget and look for any unnecessary expenses that can be cut such as unused gym memberships or streaming video services.
- Trim your food budget by eliminating prepackaged foods and restaurant meals.
- Use any existing emergency savings.
- Sell assets or unneeded household items.
- Consult lenders to refinance debts, such as auto or personal loans, at a lower interest rate.
- If you own your home, consult your mortgage lender regarding refinancing options or eligibility for a home equity loan.
- Borrow money from friends or family members who are willing and able to help.
Have You Or A Loved One Been Denied Social Security Disability Benefits?
If you or a loved on has been denied Social Security Disability Benefits you need to speak with an experienced SSD attorney as soon as possible. Please contact us online or call our Virginia Beach office directly at 757.490.3500 to schedule your free consultation. We have offices throughout Virginia including Chesapeake, Newport News, Norfolk and Suffolk.