coronavirus money advice

Lifesaving Coronavirus Money Advice for Surviving the Crisis

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Like it or not, we are all faced with the latest global challenge, widely known as the coronavirus. When it comes to the United States, nearly 6,000 people have so far tested positive for the virus. More than 90 cases had a fatal outcome. The situation calls for action, both medical and financial. People need expert coronavirus money advice to prepare accordingly!

Up until today, more than 190,000 people have been infected worldwide. Of those, approximately 80,000 have had a positive outcome. Yet, some 7,000 cases ended up tragically. This makes for as much as a 3% mortality rate of COVID-19 on a global level. Plus, the number of new cases is continually growing.

What is Coronavirus?

WHO classifies COVID-19 in the family of coronaviruses. It causes illnesses that vary from the common cold to more severe conditions. It can rarely lead to acute respiratory syndrome. Though often neglected, the thing with this virus is that it has not been isolated in humans before. Previous human coronavirus outbreaks took place because of animal-human transmission.

It is a new strain with coronavirus symptoms, such as fever, cough, and shortness of breath. Severe cases also suffer from kidney failure, pneumonia, and even death. The virus attacks all age groups, but older adults have the most serious indications. Younger people merely transmit the virus and often misinterpret it for the flu. To discover whether they have the virus, they need a test.

On the world map, the situation is most acute in Italy and Spain. China, where the first outbreak took place in early 2020, seems to have beat the virus. It’s still unknown how and why the corona virus reached humans. Some experts have claimed that the reasons are cats and dogs. However, the latest news report that feline and canine animals don’t transmit the virus.

How To Avoid Coronavirus?

Staying safe and avoiding getting infected requires a lot of self-discipline. Firstly, regular hand-washing can save thousands of lives. Doctors also recommend frequent use of alcohol-based hand sanitizers. Another crucial thing is to avoid touching your eyes, mouth, and nose. You touch surfaces all the time, and picking up the virus can occur within seconds.

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Maintaining a social distancing of at least 3.2 feet (around 1 meter) is another precautionary measure. Particularly if someone is coughing or sneezing, you should also take care of your own respiratory hygiene. Meaning, coughing, and sneezing in a flexed elbow or a disposable tissue.

Staying at home and avoiding non-essential mingling with people are also ways how to protect yourself from coronavirus. From watching cable TV alternatives to working home-based jobs, there are many ways to pass the time.

How To Treat Coronavirus?

For now, there is neither a uniform cure for the disease nor a vaccine. What doctors do is relieving the symptoms of infected people. This includes giving painkillers, vitamins, and oxygen support to severe cases.

If you are at the hospital, follow the medics’ recommendations. If you are treating yourself at home (not recommended), drink a lot of water and consume various fruit and vegetables.

Medications such as paracetamol or ibuprofen ease symptoms like pain or fever. Though, there’ve been reports that ibuprofen should be avoided. Antibiotics do not kill viruses, but bacteria. Hence, avoid unnecessary preventive or treatment use of antibiotics.

All in all, it’s best to doublecheck any coronavirus tips and updates regarding staying healthy. Otherwise, you may end up doing more damage instead.

How To Simplify Your Money During The Coronavirus Crisis?

Have you thought of having to stay home-bound for weeks? What would life look like if you are confined to the same space for days? If outdoor exposure is only limited to essential needs, then you should revise your ways. We offer you smart ways to reduce going outside and perform financial transactions from home.

  • You can perform all monthly banking from home if you automate the payment of your bills.

This way, you’ll reduce the risk of running time-consuming errands and catching the infection. Apart from time, paying bills online can also save you money. Certain American providers, in their effort to help fighting coronavirus in the USA, offer discounts if you pay via their app. Also, Donald Trump wants to send a $1,000 stimulus check to each American who really needs it.

  • Cancel any subscriptions that seem trivial at the moment.

As quarantine affects many paychecks, reconsidering your monthly expenses is paramount. Try to cut down on costs that burden your budget and postpone them. Unsubscribe from leisure and entertainment clubs for the time being. Make sure you have enough money for the essentials.

  • Do not refrain from investing in your healthcare and retirement scheme.

In cases of full panic, most people focus on short-term benefits. Thus, it becomes easier to neglect long-term stability. Even if you witness market ups and downs, stay true to your retirement investments. Giving up now means it will be much harder to start from scratch later on.

  • Order items online and select the delivery option.

This way, you won’t be exposed to the disease. You will avoid social interaction and waiting in long lines. Plus, you will save yourself a trip to the stores, which will save you gas. This is very important for people with weak immune systems and the elderly. If you need a coronavirus loan, you can get it from the comfort of your home. No need to visit banks or credit providers.

coronavirus money advice save

How To Save Money During The Coronavirus Pandemic?

Epidemics and crises do not strike often. Yet, we are witnesses of a huge pandemic that impacts us all. Being wise with your assets is crucial. We assist you with five actual ways to reduce your spending and tighten your belts. Bear in mind that exaggerating can lead to anxiety. You don’t want to find yourself saving on food and essential goods especially if there’s no need for that.

  • Rearrange your spending habits.

This means that you should rethink doing the laundry at home. Do the chores yourself now that you are at home most of the time. Do not splash out on delivery fees and fundraisers. You can also take care of your finances and save on banking advisors for some time.

  • Do not buy an excessive amount of supplies out of unease.

Panic-buying will force you to buy unnecessary things and waste your coronavirus cash. Remain reasonable and draw up a list of essential items. Do not stock up on supplies for more than two weeks.

  • It’s the right time to cut overrated leisure activities.

Instead of going to fancy restaurants, cook yourself a healthy meal at home. Skip that overpriced latte and make your favorite coffee from home. Buying branded clothes can also wait.

  • Seek refund for any canceled tickets that you might have booked.

Get rid of all theatre, cinema, and concert tickets. Airplane and train bookings should be canceled too, even if the insurance doesn’t cover them. Still, most providers will respond positively to your request. Money that you have said goodbye to can come handy and settle your bills and taxes.

  • If you are still finding it hard to make ends meet, it’s time to dip into the emergency fund.

Having saved for a rainy day will soothe you during the crisis. It might also give you time to adjust your costs and build new business relations. That’s why having emergency money on the side is always smart. Alternatively, apply for one of the best payday loans.

How To Prepare If Coronavirus Cuts Your Income?

This COVID-19 panic lowered or cut your income? There’s no need to panic yet! Here are some tips on how to manage your money and survive this hard period.

  • Keep your extra expenses at a bare minimum.

Rank your current monthly memberships in order of importance. Cut the items at the bottom for several weeks, at least. Pause on current travel plans and postpone them for better times. Cancel the scheduled ones, too.

  • Increase your savings for the time being.

Your top financial priority is to have a stable emergency fund. You might be out of work for various reasons, one being the disease. Having money to rely on is crucial. Save money worth for at least three months’ expenses.

  • Avoid buying trivial items just because you see them online.

Browsing at online stores can be tempting. If you like the look of something, that doesn’t mean you need it. Draw up a list of necessary items even before you order online. Stick to the list, and don’t let shiny pages spur your buying impulses.

  • Make sure you have a reasonable amount of cash on you.

If full-scale curfew happens due to coronavirus in USA, some bank branches might close. In outbreak epicenters, only groceries and pharmacies work. Keep your money in a safe place and make a plan for rational shopping. Your plan should cover at least three months of no additional income.

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How To Make Money While Coronavirus?

The rule of thumb is that you should not stock on food and toiletries. Instead, boost your financial reserves. This means that you shouldn’t revise your lifelong plans and schemes. Stick to your routine and know that this will be over one day.

  • Do not let panic override you.

Don’t sell your investments because you’re afraid of the COVID-19 situation. Investments aim to buy low and sell high. By selling when stock markets plunge, you’re irrational. Once the crisis is over, prices always go up, and there you go. You will make money because you managed to be calm and thoughtful.

  • Focus on working freelance from home.

This way, you’ll save time and travel expenses. Plus, even small earnings can be of great value in such times. Look for available work from home gigs and place bids. Now is time to make use of your talents and hobbies as they can earn your emergency money.

  • Gain from low-interest rates.

The downtrend of interest rates because of the outbreak have decreased the mortgages. The 30-year fixed-rate is at a record low level. Refinancing, at this point, is a smart option to save you money. If you have high-interest debt, you may consider its consolidation. Further on, equity and car loans are also becoming cheaper.

  • Sell excess or used items.

Online sales are becoming more popular nowadays. People opt to buy online when their health is in danger. Selling used books, or rarely worn clothes are some of the suggestions. You can also sell spare devices and furniture at lower prices.

  • Offer online tutorials.

If you’re an expert in a particular field, teaching kids or students will boost your funds. This opportunity will be even better if schools close down due to the virus. Advertise on school and university websites, as well as on social media. Plus, try sharing your valuable opinion for reasonable compensation. Target highly-reputable online sites.

Bank Assistance During Coronavirus Outbreak

When you have drained all other resources, it may be best to turn to bank assistance. It doesn’t matter whether you need money for coronavirus medicine, hygiene products, or paying your bills.

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Here, it’s worth noting that banks responded to the issue with high speed. Most banks track the situation in detail. Hence, they offer tailored and personalized support for their clients. Below, you will find useful solutions the majority of banks are offering these days.

  1. Bank of America – offers support for qualifying clients and small businesses facing difficulties. Among other things, it can waive specific fees. Employees receive training to address the precise needs of affected customers. The bank encourages troubled clients to contact their teams via phone, e-mail, or app.
  2. US Bank – holds a socially responsible attitude. It provides immediate help to personal and small business accounts. The Bank has reduced its interest rates. It also extended the repayment period without any hidden fees. Such loans are already available but must be approved first. Once the bank gives consent, affected individuals and firms will be able to ease their losses.
  3. Citibank – seems to provide the broadest range of specific measures for now. They waive monthly service fees and specific penalties. Bankers will be available during out-of-office hours to assist small businesses. Some credit lines will also increase. Mortgage customers might become eligible for hardship programs.
  4. Chase – claims to be responsive to every single client that seeks aid. They are working on a case-by-case basis offering tailored solutions to various clients. The bank also urges customers to use online communication channels. They also pride in 24/7 phone support.
  5. Capital One – informed its clients to stimulate them to use e-banking services. Those who undergo hardships should call the bank and seek aid. Some of the available reliefs are deferred loan repayment, fee exemption, and minimum payment.

Where Can You Get Covid-19 Emergency Money?

Have you invested lately and drained your emergency fund? No worries! It can happen to anyone. Below, we listed some reliable sources of coronavirus money help and fast emergency loans.

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We are here to brief you on several available and safe options. When in need, people can lend quick money via Up to $5,000 can be approved if the applicant can provide convincing proof of financial stability. The platform is user-friendly, and you need several minutes to apply.

Another platform that you can count on is It offers easy to fill in forms, and your private data is always secure. Pay attention that you have to be over 18 and be in regular employment. Lenders transfer money to your bank account within 24 hours. You will be able to use them if you need to make ends meet during the COVID-19 crisis. The rest is history!

We shouldn’t omit from this list, as well. It supports a wide range of credits, and the entire procedure is swift. You can request quick personal loans from the comfort of your home and get the funds directly into your bank account. Do not hesitate to apply for a quick loan if you believe you are running low on finances.

Coronavirus Money Advice Bottom Line

As outlined, you shouldn’t disregard the gravity of the situation. Relativizing the outbreak will only lead to tight deadlines and agitation. It will put pressure on your funds, too. Take timely precautions by following our up-to-date coronavirus money advice. Though health is paramount, wise spending and saving can be your key to the other side of the crisis.

Save time and money by subscribing to our newsletter. We offer real scenario solutions and take great care of our readers. Feel safe and at ease to follow our advice and do not hesitate to contact us for further references.

Also, don’t miss out on any further information on this and many other financial topics by subscribing to our ProMoneySavings Newsletter!

Frequently Asked Questions

When's the right time to buy into falling markets?

It is uncertain when markets will hit the bottom line. The best advice is to invest bit by bit. For this, you need to have an investment plan. Stick to it even if everybody else is panic-buying and acting tight-fisted. This applies if you have extra money that you’re willing to risk. In case markets continue to plummet, don’t get upset. Keep in mind that you’re investing in the long run.

Should I refinance my mortgage now that rates have sunk?

You have two options here. One way is to shorten the payment term from 30 to 15 years. On the plus side, your loan will be paid off in less time. Yet, monthly installments will increase. If you decide on the linger repayment term, you will be able to lock a lower rate. Monthly portions will become lower, too. It is possible that the overall interest you pay at the end increases.

What kind of professional can I trust with my money?

Be very careful in turbulent times like this. Most experts will sell you products that you don’t need right now. You must make sure that the financial advisor will put your interest first. The professional you choose must be certified, and it’s best if he/she is a financial planner as well. Make sure you know what and how much you’re paying. Find some reliable pros at XY Planning Network, Garrett Planning Network, The National Association of Personal Financial Advisors.

Should I keep my cash in a savings account instead of a money-market account?

Experts consider money-market accounts to be a safer option to store cash. There is a possibility that shares lose value, as in some past scenarios. For now, it’s best to keep your money in a traditional bank account. If the situation escalates, so you want your funds to be backed up by the federal government.


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    18 thoughts on “Lifesaving Coronavirus Money Advice for Surviving the Crisis

    1. J. Stewart says:

      I think that the coronavirus in USA impact will be huge and it will last for months. I don’t really know what’s the best course of action but I’m definitely keeping your advice in mind.

      1. Emily says:

        Thank you! Keep calm and be healthy!

    2. Lim Sze Weng says:

      People, listen to this person and follow these coronavirus tips. I wish there was someone sharing this information with my family when everything started in China. Now, the situation is better there, but they worry about me these days.

      1. Emily says:

        Thanks a lot! Good luck to you and your family!

    3. Kellie Paul says:

      I’m constantly obsessing over the coronavirus symptoms and I panic every time I sneeze. Is everyone feeling the same? Hpw are people still traveling and partying. STAY AT HOME FOR GODS SAKE!

      1. Emily says:

        Keep calm and call your doctor or insurance agent! Be healthy, Kellie!

    4. Esmeralda says:

      Thank you for writing this article in these hard times. I’m so scared, I’m not leaving my house. I never even though about money, but your coronavirus cash advice will help me prepare for what comes next.

      1. Emily says:

        Don’t worry! Everything will be okay. We need time to go through this!

    5. Yasiman says:

      i pray to god that this thing will pass soon but doesn’t seem like it so i’m very thankful for coronavirus money advice u give

      1. Emily says:

        Stay safe!

    6. Pray for NJ says:

      This is a great article, thanks for informing what to do if we need money for coronavirus medicine and how to handle our cash. I’m from NJ, there are cases in Butler I heard. I’m definitely staying at home!

      1. Emily says:

        Thank you too. Stay safe!

    7. Emanuel Biglio says:

      I don’t know how I feel about taking a coronavirus loan right now. Maybe there are some great terms right now, but couldn’t they change once the pandemic is over? What do you think?

      1. Emily says:

        Yes, there is. Feel free to contact us for more info and stay safe!

    8. lisa thorton burton says:

      You forgot to mention BUY ALL THE TOILET PAPER haha people are terrible, we’re going extinct because of selfishness and stupidity

    9. Corela_Mo says:

      I need to to thank you for your time for this fantastic read!! I definitely appreciated every part of it and I have you saved to fav to see new things on your website.

    10. Rusn4 says:

      That is a great tip. Brief but very well researched. Many thanks for sharing this one. A must-read post in 2020’s situation!

    11. zortilo nrel says:

      I reckon something truly special in this internet site.

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