The current pandemic of Covid-19 has upturned millions of lives. Some people have lost their lives and those that haven’t gotten ill have been affected.

Financially, there has never been a moment like this in the history of the US. It is proving to be even worse than the Great Depression. Is it hopeless, then, to even be thinking about finances?

There is never a time to just give up and this is no exception. Though the financial recovery looks like it is going to take a long time to recover, you can be doing things right now to make sure you get through this and then rebound quickly.

There are many resources out there to help get through this and the more informed you are, the more likely you are to keep your head above water.

Let’s go over some of the things you can be doing to make sure you can financially survive this crisis.

1 – If you are sick with Covid-19

If you have gotten sick with Covid-19 and have been unable to work, you may be eligible for long term disability. Its impact on filing for disability is slightly more complicated than before the pandemic since many people are not able to work at the insurance companies. Or, they are simply overwhelmed by cases.

But, if you have gotten sick and you do have coverage, eventually you will be able to get some of the money you are owed.

What happens if you don’t have disability insurance through your employer? It does get a little complicated as unemployment insurance only covers you if you have lost your job. There are new guidelines on the State and Federal level so check out this list of financial resources to find out what you are eligible for.

2 – Delay your mortgage or rent 

Right now your emergency fund is the most important thing. If you can push back or delay payments on your mortgage or rent, then you should do that. Even if you are still making money, you don’t know if you will end up laid off at some point.

Call your bank or landlord and see if they will accept a proposition about not paying for the next three or four months and apply the delayed payments to the end of the loan term or lease. Many banks are already doing this so it doesn’t seem like it will be much of an issue. Your interest will still accumulate, but you won’t be responsible for it until later.

Set this money aside to use in case you lose your job and there is a delay in getting unemployment.

3 – Cut out all non essentials 

If money is already getting tight then this is the time to start cutting out the non essential bills.

You might be relying on cable TV to keep you sane during this time that you are at home, but financially it is not a good expense. Cancel your cable, but keep your internet and watch streaming if you have to. Get rid of all the membership streaming services and use free ones like Youtube.

Getting pizza delivered or any other eating out can be eliminated. Even your groceries can be tweaked so you spend less on what you are buying to eat at home. Buying bulk items like beans and grains will help you cut down on your grocery bill.

4 – Pay the minimum on credit cards 

Since this is an emergency, you should not feel guilty about paying only the minimum on your credit cards. This is not the time to think about paying them down to reduce your interest. Your emergency fund is more important. You can’t pay a mortgage or rent with a credit card in many cases, so when you do need to start paying again, you will need to have cash in hand.

5 – Protect your mental health

This isn’t exactly finance related but it is equally important. This is a stressful time for everybody and if you are struggling financially, or worry that you will, then it will take a toll on your mental health.

Take time to clear your mind of your troubles by reading a book, doing yoga, working on a garden or anything else that brings some positivity into your life even briefly. Once this is over, you will need to have the right mindset to rebound. Taking care of your mental health will help you do that.