The Unexpected: What To Do If You Get Sick While Self-Employed
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The Unexpected: What To Do If You Get Sick While Self-Employed

Even somebody in a permanent, fully employed job find themselves suffering from financial anxieties from time to time. For people who are self-employed, or who run their own business, the adage of “if you don’t work, you don’t get paid” is commonplace. But what happens when you are self-employed, and something strikes out of the blue, rendering you completely unable to work? You are confined to your bed, and that is when the worries begin to set in. How can we make money when we are on the sick, but we don’t get sick pay?

The Unexpected: What To Do If You Get Sick While Self-Employed

Think About What You’re Entitled To

This is the first port of call, and if you are on sick for a long term period of time, you you might be entitled to incapacity benefits. It’s a very gray area when you are running your own business, because you would need to show proof that you are unable to look after your company because of your incapacity. Of course, it’s easier for those who have an employer, because they get sick pay. But, rather than this being an option for you to go and get full-time employment, many employers don’t provide sick pay anymore. The bottom line is that you should go and research, as per your area of the world, if you are entitled to benefits. If it renders you unable to do your work, then you have to hand over the reins to someone else, this is very good grounds for incapacity or disability benefit.


Embrace Practical Solutions

Unfortunately, with regards to applying for incapacity benefit, it can be a very long, drawn out process. It’s at this point where you need to find instant ways to make money. Naturally, you will do whatever you can to earn money, but if you are bed bound, it can be a struggle to do anything! It’s at this point where desperation can arise, and you would consider applying for loans, but it’s all dependent on your ability to pay them back. With something like payday loans, if you are unable to pay it back, it will impact your credit score further down the line. Think twice about doing this! Instead, it might be an option for you to embrace the legal ramifications of your incapacity. A firm like Gray Law Group files cases on behalf of people injured in auto vehicle accidents. If you have been injured because of an incident like this, then surely it’s justified that you seek some sort of retribution for this? And people don’t feel comfortable in doing it, but if you are desperate for money, then, surely, it’s your right to seek compensation for what this happened? But, as far as embracing practical solutions are concerned, look around you, what have you got at your disposal to make money?


Rent out a room…

Being a live-in landlord is a very popular approach right now, and if you have the room spare, you can even rent it out, or you could take advantage of the Airbnb approach to making money, and use it as a full-time hotel room. Of course, you may need extra help on board for this, depending on mobile you are right now.


Get help from friends…

If you’ve got a car you’re unable to use, it might be possible to turn this into a money-making vehicle. The success of companies like Uber mean that you can use your vehicle as a taxi service. So you can get friends to drive your vehicle. Of course, it means that you have to share the earnings with them, and there are expenses like the maintenance of the car, and the fuel, to keep on top of. There are other services you can use, such as EasyCar, where people use your car for a designated amount of time. With these types of ventures, there is a lot of small print, so be aware of the regulations before you enter into it.


Become a paid consultant…

If you spend a long time honing your skills in a freelance capacity, then your knowledge could be your livelihood. Whether you could provide it online via Skype, or speak to people over the telephone, being a paid consultant is a worthy way to make money, especially if you have niche skills. Many budding freelancers are looking for mentors and people to offer sage advice, and if this is you, you’ve got an outlet that could be very lucrative indeed! The benefits of doing this is that you are still classed as self-employed, it’s just you are doing it in a different role than what you were doing before. You never know, this might be a far better paid position.


The Bottom Line

Most people enter the realm of self-employment with the knowledge that they don’t get paid if they don’t work. There are insurance companies that cater towards self-employed people if they are unable to work, subject to a monthly fee. But for those people who are rendered unable to work for whatever reason, there is always a way around your problem. The benefits of being a freelancer is that you do work from home, so if you are running an office or a business, then in some ways, you’ve already got the home working situation set up. Of course, the impacts on your life as a whole is a different story altogether, but as many self-employed people would tell you, they spend more time working than socializing anyway! Being rendered unable to work is a nightmare for all self-employed people, but you should never feel you are alone in this. Every self-employed person has to have a contingency in place should they be unable to work. If you don’t, consider self employment insurance, or save up money, or another method that suits your lifestyle. Self-employed workers need to backlog money for those hefty tax bills anyway; consider saving a bit more money should you be unable to work. It gives you that security buffer if the unexpected were to arise.

Money saving Mom of 1, who loves to travel, cook, and of course spend time with family. We have a family of 3 including Mr. SMSL and of course Diesel our latest addition to the family. I'm glad you are here with me!

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