How to Prepare Financially for the Coronavirus - youramericanmoney
Author: Michelle
Description: It's on the news, online, and everywhere you look. The coronavirus has us by the balls. I want you to know how to prepare financially for the coronavirus
Date: 2020-03-09T09:00:00+00:00

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# How to Prepare Financially for the Coronavirus

posted on 9 March, 2020

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I read a lot of dystopian novels. And, a number of them touch on some of the issues that we’re struggling with right now. Primarily “what if scenarios” and asking what do we the reader (or, watcher if it’s a movie) will do in that scenario? The Coronavirus or Covid-19 has forced us to address that question and I have another one: are you prepared to quarantine yourself for 14-20 days? Before I get further into the show I want to share the following disclaimer: I am not a doctor, or government official, do your own due diligence and research before deciding on any course of action related to the virus because the situation is changing daily. That said, it’s urgent that we have this conversation because it’s becoming clear that many of us will find ourselves being in a quarantine situation whether or not we’re actually ill. This episode will cover the following: creating a plan before your directly affected by a quarantine order, financial considerations, and things to consider. I’ll also include a recipe for homemade hand sanitizer and one for hand wipes. Finally, I need you to stop freaking out but I understand why people are. It feels like things are out of our control. This episode has been created with that in mind. Take a deep cleansing breath if you’re by yourself in a room and let’s talk.

*In order for me to support my blogging activities, I may receive monetary compensation or other types of remuneration for my endorsement, recommendation, testimonial and/or link to any products or services from this blog. Please read my disclosure here.*

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## Show Sponsor

If you’re feeling overwhelmed by the Coronavirus and talk of a Recession, get the free tool kit “The Corona Virus and Recession Planning Kit. From Freaked Out to Back in Control“ available now. . If you’re needing some help figuring out what to consider, what to prepare for, and how to stockpile without losing your mind.

## Listen to the Show

## Show Notes

- You wouldn’t know that things were getting a little cray cray out in the world while wandering through my neighborhood. I’m actually working on this show from my favorite coffee shop’s patio which is PACKED. Apparently the Denver heat outweighed any concerns that people may have had about the virus.

- But, there is an underlying tension as people stock up on toilet paper and bleach like we’re about to experience the Zombie Apocalypse. And, with events such as SXSW getting cancelled, the entire northern region of Italy being quarantined, and all of Japan’s school kids required to stay home until April things have gotten real.

- Here are some very real concerns that we all need to think about.
  - Where can we get consistent, accurate and up to date information from our phones or from home?
  - What is your plan? Have you sat down for an hour and just gone through what you need to consider if you’re required to hunker down for a couple of weeks.
  - What if your kids are required to stay home from school?
  - Do you have internet available at your home in the event that your job mandates that you work from home?
  - If you work with the public will your job be affected if events are cancelled? What is your plan B?
  - How can we practice preventive steps that protect ourselves and those around us?

- One of the most frustrating things about the current Coronavirus situation is the sense that the US doesn’t quite know how to address what it’s doing at the Federal level. I will say that my state’s governor did a great job addressing questions and concerns when he initially announced that my state had confirmed cases. But, I’m concerned that bipartisan politics will affect how this situation is managed and given that I live in a state that voted blue in the last election…I’m concerned. But, in general, I as a citizen feel a bit in the dark about the whole situation.

- First, what is the Coronavirus? First, it has nothing to do with Corona beer. And, the fact that I actually have to clarify this is concerning on so many levels. The Coronavirus or COVID-19 according to the World Health Organization is a respiratory illness with the primary symptoms being:
  - Fever
  - Tiredness
  - Cough
  - Please note there are other symptoms that people may experience per the WHO website. I’ve linked to their website in the show notes.

- As cases are confirmed, depending on the severity of the outbreak, citizens in different towns may find themselves under mandated:
  - Self-isolation orders
  - City, County, etc. Quarantines
  - Elimination of large gatherings

- Even though I’m not in a high risk population I have people in my life who are and I’m very aware of that. In fact, I’ve decided to postpone visiting my dear relative who has been fighting cancer. I would have to visit them and I cannot in good conscious visit them as it would require a flight to their town.

- I’m washing my hands and being mindful of how my actions may or may not compromise someone else’s health. Also, this whole thing has solidified my disdain for cruises. Unless it’s the Star Trek Cruise. I would join that one.

## How to Prepare Financially For the Coronavirus

There are several financial aspects to dealing with the Coronavirus that we all need to consider and that I want you to think about.

They are:

- The medical costs for getting tested and the up to date protocols for getting that done. This is changing daily.

- Medical cost for care. I ended up having to answer a number of tweets about this one issue yesterday. My thought is the person who was tweeting me had people losing their minds and talking crazy talk to them. That’s not the point of this question. I just need you to be able to answer the following: Do you have:
  - Insurance?
  - A primary care physician?
  - Access to an urgent care facility?
  - There’s no right or wrong answer. Just know where you stand so that you can take well thought out actions moving forward

- Cost of stocking up on necessities-avoid panic buying but do think about stocking up on what you need to manage a supply shortage or being quarantined for 14-20 days at home.

- Job disruption

- Supply chain disruption-this may make some items more expensive.

- Effect on the markets. This can be emotional for a lot of people.

- Price gauging-protect yourself from people trying to rip you off.

## Some Things to Consider

- Take some time to look at how you earn money. Can you earn money without physically going to your job-to the actual office? When I worked at the university I had some capacity to do this. But, I couldn’t manage all aspects of my job from home. At the time I had to access actual physical files that were in my office and I had to work directly with students.

- Do you have cash available to you?

- Do you already have PTO earned or vacation time that you can tap into if worse comes to worse.

- If you work in the gig economy do you have a secondary way to earn money that isn’t people facing?

- What opportunities are there for you to earn money outside of you 9-5? I currently make money via my course “Make Money with Ebooks” my ebooks, freelance writing, affiliates, sponsored content, online events, and coaching.

- Be respectful of medical services and personnel. They are stretched thin. Once you’re clear on your state’s protocol regarding COVID-19 and testing, follow the protocol..

## Keep Others Safe

While I’m not worried about my own health and susceptibility to the virus. I am, however, concerned about accidentally exposing people with compromised immunities or elderly folks to the virus if I’ve been exposed to it.

This issue is especially important to me because I care about people and I currently have more than one relative with compromised immunities. In fact, I have postponed a trip to visit one of my relatives because I don’t want to accidentally expose them to this crap.

I’m washing my hands and paying attention to my health in an effort to practice good citizenship and caring for others.

## How to Make Homemade Hand Sanitizer

2/3 Cup of Rubbing Alcohol

1/3 cup Aloe Vera Gel

5-10 drops of essential oils

Mix thoroughly and put into a small spritzer bottle.

## How to Make Homemade Hand Wipes

Cut up paper towels-Thicker is better

1 cup of Rubbing Alcohol *70% alcohol content

2 ounces of Aloe Vera Gel

2 tsp of Vegetable Glycerine

10-15 drops of Tea Tree or Lavender Essential oils

Mix the mixture

Soak the paper towels in the mixture. If the towels are still too wet, add more towels to soak up the mixture.

Store in a sealed freezer bag

## The Corona Virus and Recession Planning Kit.

## From Freaked Out to Back in Control

The kit is now available

## Other Helpful Resources

- Coronavirus Cleaning Tips: Disinfect Your Home by Pantry Escapades

- How to Pandemic-Proof Your Business by Erika F Consulting

- PrepperFI in the Face of COVID-19 by Tread Lightly Retire Early

- PrepperFI vs. The Pandemic by That Frugal Pharmacist

- Rebalancing the Pandemic by Dr. PayItBack

- Coronavirus Emergency by A Dime Saved

- Preparing for the Coronavirus Without Breaking the Bank by Life Before Budget

- Working from Home Tips by Keeping Up With the Bulls

- The Coronavirus is a Bigger Deal Than I Thought by Eat Sleep Breathe FI

- What Now? Prepare. And Help. #kindnessfightscovid by Chief Mom Officer

- How To Prepare For Short Term Emergencies by Problems and Projects

- How to Make the Most of Your Unexpected Downtime by Kathleen Celmins

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#### Michelle

I am an obsessive foodie, but not self-righteous with it, love travel, meeting new people, helping you look good, and am freaked out by people who don't enjoying reading...something! Grab a Perrier, read my blog, feel free to drop me a line! Hope to hear from you soon.

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