In addition to creating a heightened awareness to personal health and safety, the outbreak of the novel coronavirus that causes the COVID-19 disease has put a pinch — at the least — on many families’ home budget.

Developing a plan for the family’s income is key to making ends meet during tough financial times. Start by taking a close look at your financial obligations and making informed decisions about what to do.

For families, there are “Five C’s” to help make ends meet:

• Control. Control as much of the situation as you can. Don’t panic or waste energy blaming yourself or others. Remember that you and your family can take control of your actions.

It’s natural for individuals to take some time to get over the initial shock, but then start making plans to work around the shortfall. Assure yourself that you are doing the best you can with your resources. Your life may be different for a time, but you and your family can still manage financial affairs rather than have them manage you.

• Claim. Check with local agencies to determine what benefits or assistance programs for which you may be eligible. If you’ve lost your job, you can start by applying for unemployment benefits. Other programs that can help include the Supplemental Nutrition Assistance Program (SNAP), Temporary Assistance for Needy Families (TANF), Medicare, and others.

• Communicate. Let family members know what your limitations may be. Perhaps other family members who are still earning an income can contribute more, or maybe the family member no longer earning an income can use a hobby or skill for temporary income.

This is a great time to create a family budget. Start by identifying the amount of income coming in, and then have all family members participate in prioritizing expenditures. Be sure to agree on what the family needs over the next few weeks, as well as over the next two to three months.

• Confer. Call your creditors and explain your situation; don’t simply default on payments. Find out what happens if you miss payments, and if there is a grace period for making payments.

It’s wise to make a plan to first pay creditors who are likely to garnish your wages, impose a high finance charge, repossess items, cut off basic services, or who are owed a large amount.

• Change. Be prepared to make changes to your lifestyle temporarily so that you can maintain basic essentials. Look for ways that you and family members can use time, energy, talents and knowledge to reduce expenses.

You and your family can make it through hard times. It’s important to make informed decisions and work together to carry out these decisions.

If you want more information on managing family finances, please contact one of our Midway District offices.

Jessica Kootz is the Family and Consumer Sciences Agent in the Midway Extension District. For more information on this article or other Family and Consumer Sciences related questions, email Jessica at jessicak@ksu.edu or call a Midway Extension District office at (785) 472-4442 or (785) 483-3157.