For many people, protecting against COVID-19, the illness caused by the novel coronavirus, means frequent handwashing and staying home to limit exposure to potentially infected individuals.
Those infection-prevention measures may seem straightforward, but navigating a viral outbreak is complex. It’s also a strain on finances when you might face lost wages from missed work.
Your coronavirus-related worries may lead you to dip into your emergency savings — and that’s all right. Emergency funds exist for unexpected, urgent circumstances, and this situation fits that description.
That said, here are some tips to help you avoid unnecessary spending while taking precautions during coronavirus-related isolation. Also check available coronavirus refunds that might apply in your case.
1. Stock Up on Long-Lasting Items
You might be unable or unwilling to visit the grocery store for an extended time, whether because you prefer to isolate or local authorities recommend staying home.
Focus on nonperishable groceries — shelf-stable or frozen goods — so you don’t waste money on food that spoils quickly. Consider meals that are simple to prepare if you’re feeling under the weather. Save by buying in bulk, choosing lower-cost store brands and using buy-one-get-one deals or coupons.
Remember to stock household essentials as well — soap and toilet paper, along with cold remedies, throat lozenges and supplies that will help if you develop acute symptoms of the virus.
Rather than purchasing name-brand pain relievers and cold medicines like Tylenol, Advil, DayQuil or TheraFlu, opt for generics. The U.S. Food and Drug Administration requires generics to contain the same active ingredients as brand-name versions, and generics are typically much cheaper.
In short, you’re getting equivalent treatment while spending less.
2. Cut Back on Nonessential Purchases
The Centers for Disease Control has urged people not to buy surgical masks so supplies can be reserved for healthcare professionals. Another item you can avoid: overpriced hand sanitizers. Washing your hands with soap and water for at least 20 seconds is more effective in most cases.
Because the duration of the COVID-19 outbreak is uncertain, be cautious with discretionary spending so you can preserve funds for medical needs or essentials. It’s tempting to buy items to keep yourself or your children entertained while confined at home, but try to resist excesses.
3. Use Curbside Pickup
Home delivery reduces face-to-face interactions, but it usually incurs fees. Free curbside pickup is a smart alternative that helps you avoid both store aisles and delivery charges. Major retailers like Walmart and Target provide curbside pickup services.
Local grocery chains often offer comparable options. Some Publix, Aldi, H-E-B and Kroger stores provide curbside pickup, though there may be a charge. Other stores allow online shopping with free in-store pickup; you still must enter the store to collect purchases, but you avoid wandering the aisles and passing many other customers.
4. Have Prescriptions Sent to Your Home
If you have a chronic condition that requires daily medicines, make sure you don’t run short. Experts suggest keeping at least a 30-day supply of essential prescriptions on hand.
Setting up mail delivery for prescriptions before you’re out is a prudent move. Many pharmacies will mail 90-day supplies. For instance, CVS Pharmacy recently said it would waive delivery fees for prescription meds in response to the coronavirus situation.
If your insurer restricts how much medication you can receive at once, consider filing a quantity limit exemption with a doctor’s note explaining why you need a larger supply. There may also be therapeutic alternatives that aren’t subject to the same quantity limits; discuss options with your physician.
5. See a Doctor Remotely
Medical care doesn’t always require visiting a clinic full of sick patients. Whether you think you have coronavirus symptoms or are dealing with an unrelated issue, telehealth can be an effective option.
Contact your insurer to learn whether virtual visits are covered. A clinician may ask you to take vitals — such as temperature — and evaluate your condition via video or phone. Telemedicine consultations may also cost less than an in-person copay.
If you suspect you have COVID-19, many insurers are now waiving fees for testing.
Rebecca Lane is a senior writer at Savinly.
