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Post by sam9 on Jul 13, 2020 23:28:02 GMT
No change in income, but our investments have declined. They’ve rebounded but we’re still not back to where we were. We choose not to look at them on a daily basis.
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Post by merry27 on Jul 13, 2020 23:28:30 GMT
We own a successful bar. We have been shut down for 14 out of the past 16 weeks. We received PPP for 8 weeks but that only covered payroll expenses. We still have a mortgage, loan, insurance and property taxes to pay even though we have been closed. We haven’t received a penny in unemployment, didn’t get any stimulus money and have used up a lot of our savings. The service industry has been hit hard. It’s not fair that we are the only industry that has had to be closed this long. We were following CDC guidelines and doing everything right. I’m really worried.
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Post by kibble on Jul 13, 2020 23:28:45 GMT
Both my husband and myself are still working full time so not really affected yet. However, my business is way down and if it continues, I fully expect the business to close within the next 6-8 months. We are trying to prepare for that by saving more and paying more on our largest debt in the hope it would be paid off if/when that happens.
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Post by AR Scrapper on Jul 13, 2020 23:31:31 GMT
Our went through quite a bit of change. At first my husbands hours were cut then his boss laid everyone off so he was collecting unemployment for a few weeks. Then he started a new job that pays better than his original job even before his hours were cut. So now we are in a better financial position than we were when this all started, but it was a wild ride.
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Post by kenziekeeper on Jul 13, 2020 23:31:47 GMT
So far we have no reduction in income. We have the most money in cash, checking, and savings that we have ever had and we’ve made lots of large purchases like new furniture and appliances. The things that we spend 80% of our income on are not currently available, so we are spending 1/5 of what we usually do every month. The rest of it is just sitting there. I’m curious about this! What do you normally spend the 80% on? I’m just being nosy!
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Post by myshelly on Jul 13, 2020 23:36:23 GMT
So far we have no reduction in income. We have the most money in cash, checking, and savings that we have ever had and we’ve made lots of large purchases like new furniture and appliances. The things that we spend 80% of our income on are not currently available, so we are spending 1/5 of what we usually do every month. The rest of it is just sitting there. I’m curious about this! What do you normally spend the 80% on? I’m just being nosy! Normally our biggest expenses are travel and theatre. Followed by other events - concerts, lectures, exhibits. Then art school tuition for my kids. Then field trips. Then gas. Then Parkour and Ninja Warrior tuitions. Those first 4 line items aren’t available right now. I’m using less than a tank of gas a month, whereas I used to use more than a tank a week. And the 6th line item isn’t available right now. That’s the majority of our income being unspent.
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MDscrapaholic
Drama Llama
Posts: 6,372
Location: Down by the bay....
Jun 25, 2014 20:49:07 GMT
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Post by MDscrapaholic on Jul 13, 2020 23:36:51 GMT
I’m still working, at home since mid-March. Got a nice raise that went into effect April 1st so doing okay. Saving money by not having to drive to work everyday.
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leeny
Pearl Clutcher
Posts: 4,637
Location: Northern California
Site Supporter
Jun 27, 2014 1:55:53 GMT
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Post by leeny on Jul 13, 2020 23:39:54 GMT
Effective July 1st we have a 20% decrease in our pay and hours. My company has applied for assistance from the state employment department that will make up some or all of what is missing.
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Post by AussieMeg on Jul 13, 2020 23:44:25 GMT
I'm glad to see that 60% of people responding so far have seen no decrease or have increased. I'm sorry for those of you who's income has been reduced. That must be incredibly stressful.
I think one of the main reasons that I have been coping so well during the pandemic is because our income has not reduced at all. I can handle the social isolation (in fact I mostly enjoy it!) but if money was a problem I wouldn't be coping as well.
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Post by Blind Squirrel on Jul 13, 2020 23:49:48 GMT
I'm a teacher, so I was paid normally throughout the year. I did lose out on teaching summer school for three weeks. I've taught it every year for the last 8 or so. That money helps with my exorbitant insurance costs.
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Post by originalvanillabean on Jul 13, 2020 23:52:12 GMT
We are both working so no reduction there, but our bank account balances are larger since we don't go out much.
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pancakes
Pearl Clutcher
Posts: 4,993
Feb 4, 2015 6:49:53 GMT
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Post by pancakes on Jul 13, 2020 23:52:40 GMT
We both have our regular jobs but we also had Airbnbs on the side — business is still practically nonexistent there, which is super rough.
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tracylynn
Pearl Clutcher
Posts: 4,868
Jun 26, 2014 22:49:09 GMT
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Post by tracylynn on Jul 14, 2020 0:09:28 GMT
I selected no reduction, which is mostly true.
My base stayed the same. I didn't make a Q2 metric due to C19, which means I missed a sizeable bonus. Totally expected. Not a big deal.
Q3 is looking much better!
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Post by shamrock on Jul 14, 2020 0:11:54 GMT
Our income hasn’t been hurt. Investments sure have. Future income took a hit. I had planned to sub a lot this coming year. I’m not going to now.
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Post by danalz on Jul 14, 2020 0:16:38 GMT
I can't vote on the app but our finances have stayed the same and we have actually saved money by not going out to eat as much. DH and I both have been working from home at full salary.
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Post by huskermom98 on Jul 14, 2020 0:18:13 GMT
Yes, but it's been of my own choosing. I volunteered to cut my hours from 20 to 12.5 at church to help the church save money, but also because I needed to be home another day to help DS with his online schooling. I also quit my flower delivery side job after Mother's Day because I was tired of the owner's attitude (but I had really been wanting to quit for awhile). DH kept working just as much (or more because there was no baseball which meant he could stay as long as he needed) and his salary never changed.
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Post by chaosisapony on Jul 14, 2020 0:28:47 GMT
I work for local government and my pay hasn't changed. Our office, unlike most of the County, worked throughout the shut down.
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Post by Karene on Jul 14, 2020 0:29:59 GMT
My husband's work stayed the same but I've been laid off since March 17. Since my job is tied kids being in the schools, I have to wait until the province decides what they will do. We plan to be ready for September. I've been collecting CERB emergency benefit this whole time. But its definitely less than I usually make. We are not strapped for money, though.
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Post by iamkristinl16 on Jul 14, 2020 0:31:15 GMT
Dh and I have both had reduced income since March. Dh lost his job completely in late May.
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Jili
Pearl Clutcher
SLPea
Posts: 4,363
Jun 26, 2014 1:26:48 GMT
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Post by Jili on Jul 14, 2020 0:37:09 GMT
I’m still employed and making my full salary. My dh is back to work after about a month off, but he’s making 20% of what he was. He’s more optimistic than I am, but at this point I don’t see him ever getting back to where he was. What does your DH do for a living? He works in the automotive industry, for a supplier. They’re back at work full time but they’re not producing what they were, even though the assembly lines at the automakers are back up.
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Post by cmpeter on Jul 14, 2020 0:42:23 GMT
Yes and no.
My employer canceled all raises, bonuses and promotions. But, I was t impacted by the reduction in force they had and I still have my job.
No impact for DH.
We are providing financial assistance to both our adult kids as their jobs were impacted. Both only work part time as they finish up college degrees.
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Coffee Mom
Full Member
Posts: 200
Dec 18, 2018 0:16:30 GMT
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Post by Coffee Mom on Jul 14, 2020 0:44:21 GMT
Ours stayed the same. I lost my own income for a while there, but the stimulus check covered everything I lost, thankfully!
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Post by Spongemom Scrappants on Jul 14, 2020 0:46:48 GMT
We own a successful bar. We have been shut down for 14 out of the past 16 weeks. We received PPP for 8 weeks but that only covered payroll expenses. We still have a mortgage, loan, insurance and property taxes to pay even though we have been closed. We haven’t received a penny in unemployment, didn’t get any stimulus money and have used up a lot of our savings. The service industry has been hit hard. It’s not fair that we are the only industry that has had to be closed this long. We were following CDC guidelines and doing everything right. I’m really worried. That sounds frightening and I'm sorry you're in that position. My part-time work with the auction house was greatly reduced March though May and I haven't worked at all since June 13th. It's primarily my discretionary money though and there's no travel to be had now so I haven't missed it much. Thankfully my husband's job has been unaffected and he's had no reduction in income. Expenses overall have changed. More on groceries. Way less on gas and entertainment/dining out.
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Post by mom on Jul 14, 2020 0:47:45 GMT
DHs income went up with his raise (annual raise) that he gets in March but our expenses also went up since both boys moved back home sooner. Pretty close to a wash, really.
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Post by Rainy_Day_Woman on Jul 14, 2020 0:57:22 GMT
I had to take 3 months off from my full-time job to take care of the kids, and my part-time job needed to be closed, so that was a lot of lost income for me over the shutdown.
That said, with decreased spending and not paying for child care, we managed to do alright.
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luckyjune
Pearl Clutcher
Posts: 2,685
Location: In the rainy, rainy WA
Jul 22, 2017 4:59:41 GMT
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Post by luckyjune on Jul 14, 2020 0:59:01 GMT
The pandemic has not affected our finances. You know what has affected our finances? HAVING NO MORE CHILDREN IN COLLEGE!!! Best.raise.ever.
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used2scrap
Drama Llama
Posts: 6,036
Jan 29, 2016 3:02:55 GMT
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Post by used2scrap on Jul 14, 2020 1:11:53 GMT
We own a successful bar. We have been shut down for 14 out of the past 16 weeks. We received PPP for 8 weeks but that only covered payroll expenses. We still have a mortgage, loan, insurance and property taxes to pay even though we have been closed. We haven’t received a penny in unemployment, didn’t get any stimulus money and have used up a lot of our savings. The service industry has been hit hard. It’s not fair that we are the only industry that has had to be closed this long. We were following CDC guidelines and doing everything right. I’m really worried. I’m very sorry. I hope the next stimulus package will offer some assistance for this unprecedented horrible time.
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Post by mom on Jul 14, 2020 1:14:55 GMT
The pandemic has not affected our finances. You know what has affected our finances? HAVING NO MORE CHILDREN IN COLLEGE!!! Best.raise.ever. I cannot wait for ours to get out. That will be a great day!
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Post by M~ on Jul 14, 2020 1:18:48 GMT
I have been so lucky. I get to work from home and got two increases this year. My spending is down since I'm at home all the time. I'm so sorry that some of you are not doing so well.
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Post by maryland on Jul 14, 2020 1:20:34 GMT
My husband's salary is the same, but the big bonuses we were expecting won't happen. So that's a big drop in expected salary, but we are happy he has a job and still gets a paycheck. The bonus was going to be used for a new van (mine is 16 yrs. old) and new carpets (they are 17 yrs. old). But we figure since we can't do that now, we have time to really shop around and why get it when we still have three messy daughters at home!
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