I think I can speak for you when I say I’m terrified. Still, I don’t see how pretending Hydroxychloroquine, an old anti-malarial drug, is the magic answer against COVID-19. This is a virus that appeared months ago.
It’s horrifying to be a grown adult, feel anxiety, and feel zero control over our life.
OK. I won’t speak for you when I say that I am worried about money.
Over 10 million Americans lost their jobs in March.
Millions more are going to lose their jobs before 2020 is over.
I don’t know when this pandemic will end, but I know the economic disruption caused by it won’t end soon.
Yes, I am worried about COVID-19. But I am more worried about money.
Saving money and having money in my pocket during the trying times to come.
I understand panic, but I was shocked to see people hoarding and fighting over toilet paper and sanitizer on the news.
Everyone wants to feel control over the horror.
And buying experimental medicines designed to treat other ailments isn’t the answer either.
Money is going to be tight everywhere.
Your political beliefs are your business. When I used to go the doctor (long ago before hospitals became COVID-19 wards anyway) I didn’t tolerate political advice or being told how to vote.
Yes, I am scared. But I wont spend money on experimental drugs in the hope they might work.
A scientist must tell me that. These drugs have serious side effects. And they cost a lot of money
If there is one thing I will be hoarding this year, its money.
The $4,800 Hydroxychloroquine Gambit
Panic buying a pill recommended by politicians doesn’t seem like a good bet to me.
Hydroxychloroquine is an anti-malarial drug that is also used to treat lupus and arthritis.
The expensive, brand name version of hydroxychloroquine is called Plaquenil.
A 30-day supply of the generic version of hydroxychloroquine costs about $60, or, $720 annually.
The problem is that there are no medical guidelines on how often healthy people must take it. (They are not designed for use by healthy people).
People suffering from malaria usually take hydroxychloroquine once a week.
So, the more often I take this untested pill, the more expensive it becomes for me.
Also, hydroxychloroquine has serious side effects. It can cause:
- Irregular heartbeat
- Yellowing of the eyes
- Impaired hearing
- Blurred vision
- Hallucinatory flashes of light
- Spontaneous bleeding from the skin
- Toxic if taken with diabetes medications
COVID-19 is a novel, or new virus.
Its hoping against hope that a medication that existed for decades will cure a brand new virus.
I’m not paying $720 or $4,800 annually to take an experimental pill to treat a new virus it wasn’t designed to treat.
When there is scientific data that proves a new cure or vaccine works, including double blind studies to account for the placebo effect, I might be in line before you to get it.
Still, money is tight everywhere. Should one take hydroxychloroquine once, daily, or monthly?
What is the cost of desperate, dangerous, blind hope?
Keeping Control of my Finances
There are many people with garages stuffed with toilet paper right now. They did that to feel some control in an era of COVID-19.
Those same people may now be desperately trying to acquire a pill not approved by the medical community to feel more control over their lives.
If you want to treat yourself like a guinea pig, and pay for the privilege, I can’t speak for you.
When hydroxychloroquine is successfully re-purposed and scientifically proven for use against COVID-19, let me know.
That is an expensive gamble I am not willing to take now.
I feel more control of my finances than ever before.
It’s a shame it took a pandemic for me to truly appreciate how important it is to have emergency financial funds.
The last thing I am going to do is waste money on a drug that might me sick and make me go to a hospital full of COVID-19 patients.
I will stick with social distancing and staying at home for now.
I can’t speak for you, but I don’t have the money to waste on miracle drug gambits.
The best way I can think of to assume control in the horrific era of COVID-19 is to save money.
It’s a cruel new world.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.