How Structured Settlement Cash Can Work For You
You’ve won your big insurance claim lawsuit. You’ve really made them pay big time, and pay they will – every month for a good long while. But what does that extra structured settlement cash mean for you and your finances? How can you best manage it? And should you look into a “lump sum” agreement promised by so many on clever television commercials? Your structured settlement cash is yours, and it’s yours to do with what you want, but you must deal with it responsibly. While you may think a structured settlement may not be in your best interest, as you see lots of dollar signs flash before your eyes, structured settlement cash can have its advantages.
Your structured settlement cash will be coming in regularly, like clockwork. This is good news for you, as you can depend on that monthly injection of funds to add to your monthly income. This should aid in your budgeting, and in your financial planning. If your structured settlement cash plus your monthly income is more than you need to live, you can even invest or give regularly, in regularly scheduled amounts. Structured settlement cash may help you get out of debt, or keep you out of debt, by allowing you to either pay off outstanding amounts, or by allowing you the freedom of paying cash and not relying on credit.
More good news is that your structured settlement cash isn’t going anywhere for a good long while. It’s going to be dependable, steady income, every month. Saving or investing some of it if you can is a wise way to ensure that should hard times come again, you’ll be able to get through them easily and stress-free, knowing you have the finances to deal with the crisis. And you can set up a payment plan for a loan or credit account, if your savings isn’t quite enough, because you know no matter what, you’ll still be receiving that monthly settlement payment.
So, you’ve got a budget, you’ve got a savings plan, you’re even giving to some of your favorite charities, and you’ve got a plan for the future. But wouldn’t it be ever so tempting to take a big lump sum, to take one of those firms up on their offer and get a big payment all at once? Probably not, most financial planners and experts say that keeping your structured settlement cash as a regular, periodic payment is better for you and your finances. See, we humans are very easily tempted, and the thought of that big Parisian vacation, or that New York shopping spree, or that Hawaiian island home or that new fishing boat would probably be too much for us to resist. We’d end up “blowing” all our hard-won-hard-fought structured settlement cash and have nothing much to show for it in the long run. No, they say, keeping your structured settlement’s structure is best for all. Besides, you really don’t look good in Hawaiian print shirts, and the fish haven’t been biting for a decade or more.
SingerAsset.com can supply cash now in substitution for the commitment of future payments through your structured settlement payments.
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