The H1N1 Virus' Effect on Family Finances

The H1N1 virus, also referred to as the swine flu is spreading across the country at an alarming rate. It effects old and young, rich and poor, neighborhoods and entire communities. This virus effects everyone in every earning range and status.

If the virus becomes a pandemic schools will be forced to close to protect children from catching and spreading it among the rest of the community and their families. If the pandemic is bad enough businesses will shut down and whole communities will be forced in to quarantine. You will not be able to leave your home for any reason without risk of arrest except for hospitalization.

When this happens it not only takes an emotional toll, but it will take a financial toll on every family throughout the country and throughout the world. Bills will not go away, but paycheck will stop coming in without the main wage earner being able to work. Bank accounts will dry up and utilities will be shut off leaving many to deal with the coming winter season. For other it will mean the loss of their homes and transportation. How do we deal with the financial disaster that is sure to follow?

Your first financial drain will be for vaccinations of each family member living within the home. If you have medical insurance check how much will be covered. Try to take the whole family in on one visit for possible savings of multiple visits.

Watch for one day locations for vaccinations for the H1N1 virus within your community. Many times an emergency site will be set up at schools, clinics and even stores or library's. The cost will not include an office visit, but it is uausally first come, first served and when they run out of vaccine there will be no more shots.

If you child is running a fever the schools will be forced to send them home. They will not be allowed to return until they are well. They will not be allowed at day care either while running a fever for the protection of other children. This can effect the cost of your own sick time or time off without pay as well as still paying for child care you are not using. Check with your child care provider and ask for provisions to be created in case this happens.

If the child care provider has to close due to pandemic illness will there be a back up plan? Have at least three other options in place if this should happen so you don't lose time from work. Your child will still need care, but if they are sick you will need to make arrangements for their care or take time off of work.

If you get sick it can last for several days. Use your sick days until you run out so you continue to collect a full paycheck. If you don't have sick days you need to have enough in savings to cover at least one paycheck. If your illness becomes worse and the infection increases you may have to be hospitalized. This will be a drain on your paycheck and set you back with medical cost out of pocket.

If you do not have insurance your savings will need to cover at least three months of living expenses. This helps to cover home payment, utilities, phone for emergency, car payment, insurance and food. Everything else can be shut off or done without.

Do your banking online if you are connected to internet so your bills are paid on time. You will not be able to leave the house and it's unlikely there will be any mail pickup in affected areas. Direct deposit, online banking, and bill pay may be your only option.

If businesses have to close due to H1N1 virus check with your company human resources department for information regarding continuing pay, loss of pay, work from home options or over time before closure. Closure due to a pandemic can last anywhere from a week to a month. This situation may allow employees to use any left over sick days or vacation time to provide needed income.

So far the government has no plan in place for financial debts for those affected by closures and quarantines. So it is up to each one of us to plan finances in case of a pandemic. So far there is no cure and the illness has not slowed down. We are all possible victims of the H1N1 virus and if we are affected it will change our financial lives for a long time to come.

Now is the time to think about how to handle a pandemic situation regarding family finances before it is too late. Start now with saving every cent possible for emergencies. If the pandemic ends and we are not affected then you will have a great savings towards a family vacation or a ready emergency fund.