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Post by Charlotte on Jul 14, 2020 1:30:11 GMT
If you count the $2400 we got from the government, then we have increased our income. DH had his hours reduced for several weeks, but his company paid back all missed income once they went back to FT.
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Post by pjaye on Jul 14, 2020 1:30:30 GMT
My savings have increased! I'm still working (nurse) my normal hours (at the start when elective surgery was stopped I did use two weeks of my paid vacation time) therefore my income hasn't reduced at all. I do socialise quite a bit and with that no longer being an option my savings have increased quite a bit. The only thing I do currently is buy groceries. I have been doing my own nails, so there was the initial outlay for the products but I haven't been to the salon in nearly 4 months. The more time I spend at home, the more aware I am of all the stuff I have, and I've been trying to use up things I own and not buy more. Right at the moment, I'm financially better off. But we all know how fast that can change - so I'm not counting any chickens
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Post by Pahina722 on Jul 14, 2020 1:33:30 GMT
DH teaches high school on salary, so no change for him. Mine has gone down slightly because I’m only teaching 3 summer classes instead of my normal 4 during the summer. Given the huge drop in enrollment at my college, I don’t expect to get my typical OT assignment. However, that’s extra, so no huge deal. On the plus side, we paid off our mortgage in February, have received 2 insurance rebates, and both will be getting scheduled raises in the fall. All in all, not too bad.
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Post by gorgeouskid on Jul 14, 2020 1:54:20 GMT
I am a teacher, so no change there. My husband is in an essential industry (air filtration systems), so no change there either.
We are extremely fortunate, and have tried to help out others as we can.
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kate
Drama Llama
Posts: 5,517
Location: The city that doesn't sleep
Site Supporter
Jun 26, 2014 3:30:05 GMT
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Post by kate on Jul 14, 2020 1:59:08 GMT
My regular job is salary so that didn't change for me but my side job as a caterer got hit big time. Add to that having all of my kids home my grocery budget took a significant hit🙄 only my two side gigs are in music. One of them has come back (though I don't know how long it will last - praying it continues!), and the other is not likely to come back any time soon. DH and I are just. so. grateful to still have our main jobs and health insurance. We're doing okay. Our college kid will be online for fall semester; that will significantly impact our grocery budget (for real! I'm not being flip), and we need to get a new computer. We were verrrrry lucky that the current one hung on, gasping, until the end of the semester. We haven't figured out what to do about employment, since the work/study job is not one that can be done remotely. Another kid's summer job at a sleepaway camp evaporated. We were planning on that income for her spending $ for the upcoming year, AND we were not planning to be feeding her this summer. Anyone who's had teenagers at home will know the impact of that on a budget! Our apartment is very tight quarters - with everyone working from home last spring, it was brutal. DH and the college kid will be WFH for fall; the rest of us still don't know what our schools' plans are. I can't even think about our investments. Neither of us will have a pension. DH is past retirement age, but he's not retiring soon. None of our kids has finished college yet. Still and all, I am grateful that we're doing okay though these hard times.
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Post by lisae on Jul 14, 2020 2:02:50 GMT
Not much yet but these near zero interest rates are going to hurt savings rates. The Fed can sink rates rapidly but it takes them years to recover. It is hard on conservative investors. Older people in particular who need to keep more money in safer investments pay the biggest price in lost investment income.
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Post by berty on Jul 14, 2020 2:05:49 GMT
I’m still getting paid per the teaching contract, but will be getting pension payments starting in August, as I retired in May. The pension will be less than my salary, but the house will be paid off in a couple more months. I’ve been paying for the groceries and other things I pick up for my brother and his wife, so my expenses have been up some, but I'm in good shape and grateful to be able to give him a little breathing room in his budget as he’s on Social Security and his wife is on disability. You’re a good soul!
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Post by cecilia on Jul 14, 2020 2:07:00 GMT
Our sales have took a hit. We didn't buy as much at first but we are back to hitting estate sales/yard sales to stock up for when things are back to 'normal', whatever that will be.
The arts and crafts fair will likely be cancelled so that will be a hit.
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stittsygirl
Pearl Clutcher
Posts: 3,580
Location: In the leaves and rain.
Jun 25, 2014 19:57:33 GMT
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Post by stittsygirl on Jul 14, 2020 2:12:29 GMT
I was furloughed from my part-time job at a surgery center when the pandemic began and decided not to return. I chose not to apply for unemployment because my husband’s job in Afghanistan was still secure and can support us just fine.
Since the stay on elective surgical cases was lifted I’ve been working about two days a week at the large hospital where I am still a per diem employee, and it helps make up what I lost from my other part-time job.
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Post by mari on Jul 14, 2020 2:22:25 GMT
I got a 20% raise at work plus a decent ‘pandemic pay’ bonus from my job and a second bonus from the board of directors from my agency. My spending has significantly decreased so my savings are up. I’ve been setting aside more each month for gofundme campaigns or other individuals in need to try to pay it forward because I realize I’m quite fortunate.
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Post by jemali on Jul 14, 2020 2:32:11 GMT
DH was laid off on April 1st so he has been collecting unemployment, including the $600 federal money. But he only gets 50% of his wages for state unemployment, so its not like it’s $600 extra like people keep saying.
I got a raise in April that was retroactive to the beginning of the year so my income is up.
A “friend of a friend” told DH about. a place that was hiring and he starts this week (waiting for background check). It pays .50 less per hour than he was previously making but it is closer to home. But the hours suck. 12 hour nights and rotating days. But at age 55 he didn’t dare turn it down.
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Post by pierkiss on Jul 14, 2020 2:36:09 GMT
Yes.
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Post by malibou on Jul 14, 2020 2:48:21 GMT
merry27 I am so sorry. Wishing you huge success when you do get to open.
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QueenoftheSloths
Drama Llama
Member Since January 2004, 2,698 forum posts PeaNut Number: 122614 PeaBoard Title: StuckOnPeas
Posts: 5,955
Jun 26, 2014 0:29:24 GMT
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Post by QueenoftheSloths on Jul 14, 2020 2:59:59 GMT
I was furloughed from my out of the house job, but since I still had my online job, I wasn't eligible for any unemployment at all, even though half my income was gone. DH's income is Social Security and a pension, so those stayed the same.
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lionpride92
Junior Member
Posts: 50
Sept 27, 2019 14:46:54 GMT
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Post by lionpride92 on Jul 14, 2020 3:18:32 GMT
DH works for an auto supplier in IT and they had a 20% reduction in salary across the board. We’re fortunate he wasn’t laid off like so many others in his division.
I’m drawing unemployment for my part time job at a performing arts center. I also substitute teach and that also fell by the wayside.
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Post by ntsf on Jul 14, 2020 3:19:39 GMT
dh is retired, so our monthly draw is about the same. he is starting social security this month.. as he turned 70 last week. so our income increased. and our stock portfolio has gone up a significant amount (mostly tech stocks).. our son was a bartender--no work, on unemployment.. but his girlfriend makes tons of money and has been working 12 hour days at home. for major tech company. our daughter in new zealand worked in retirement accounting.. laid off and is going to take advantage of govt's offer for a free semester at college, so she started school this week. She had 4 yrs of USA college.. but never quite finished. so she is going back to get an accounting degree. 2.5 yrs. and her wife got a promotion.. so though they just bought a house, they are doing ok with belt tightening.
so all in all we are so lucky.. and I have significantly upped my donations to diaper bank and food bank.
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Post by supersoda on Jul 14, 2020 3:22:14 GMT
No decline in income--yet--and we've been able to save much more than usual. But I expect that my income will decline in the next several months because the industry I'm tied to tends to be a late responder to economic trends. We've been busy preparing clients for COVID consequences, but that is slowing down and they're reining in discretionary spending on legal services.
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Post by mom2rjcr on Jul 14, 2020 3:29:37 GMT
I am a teacher so I am still under contract for the 2020-2021 school year, but DH's pay was cut 10%. On top of that, two of my sons have moved home. One is still working at Pizza Hut, but my other one has lost his job since his employer has filed bankruptcy. Supporting two more adults has hurt our finances too.
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Post by **GypsyGirl** on Jul 14, 2020 3:51:26 GMT
We are saving more money due to not traveling, not eating out, and spending less on gas. DH's salary is intact, but no raises this year and they suspended company matching on 401K deductions. Considering they cut 15% of the staff the end of June, we're doing better than many. Unfortunately, one sister lost her second job that really helps her make it, so we are helping her out for now.
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Post by chlerbie on Jul 14, 2020 4:05:49 GMT
We have a home business and we expected it to slow down and instead it kind of exploded. We've been super, super busy to the point that some days I'm overwhelmed. It's been nice because while we don't spend money on eating out, we are spending extra on groceries to have fun and good things to eat and I've been able to buy some things for the home and still save, as I have no idea what the future is going to hold, so am taking advantage of it all while I can.
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Post by fiddlesticks on Jul 14, 2020 4:31:15 GMT
We’ve stayed the same. I already worked from home and homeschooled our DD and DH transitioned to working from home in March and will be here for the foreseeable.
We had to cancel several trips but turned around and spent that money on some home improvement stuff that we had been talking about.
As of this fall, we will see an increase because the virtual public charter school I work for increased me to full time.
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Post by mandolyn9909 on Jul 14, 2020 12:40:39 GMT
We have increased. My husband is getting a higher wage and working more hours. He is a plant manager.
My income has stayed the same, We have had some government child subsidy as well. Every Canadian received extra for children.
My 15 yr old son took on a full time job at the start of school being out and has been working this whole time. He did all his school in the evenings and weekends. He has made thousands, saving for college that he otherwise wouldn't have made if he was in school.
My 15 yr old daughter took a job tutoring / babysitting a neighbours children. Neighbour is a nurse so still needed to be working full time while her kids were home from school so my DD has been doing that job.
So overall household income is up a lot, we have been trying to save because I fear economy is really unstable right now.
ETA the baby in my avatar has set up a chicken business. Raising chickens and selling eggs. He is 11 now...I haven't updated my avatar in a while! ha.
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Post by jewelie121 on Jul 14, 2020 13:34:55 GMT
I was furloughed from my part time job in March, but I’m back to work there with more hours than I was getting previously. Nothing changed with my full time job, as I was already mostly working from home.
My boys came back from school early, but my college kid has gone back and forth a bit as he’s taking a couple of summer courses and the study environment is better at his apartment. My high schooler will be moving back to school in a few weeks, but the plan is for the juniors to go for half the 9 weeks, then the seniors, while doing online learning when they’re not at school. That has affected our food budget a bit, but not going out to eat has pretty much offset it.
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Country Ham
Pearl Clutcher
Posts: 3,313
Jun 25, 2014 19:32:08 GMT
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Post by Country Ham on Jul 14, 2020 13:47:43 GMT
I said increased because of the stimulus checks. Also my son works at one of the big marina's on the lake and they only hired 1/4 of the kids they usually do. They also increased their salary because of it. While I don't consider his summer earnings household money it was increased due to corona hiring restrictions. Also the residents at the group home received extra money BUT while their rent is based on a percentage of their checks we didn't "take" that extra from them we just charged what we did the months prior to this situation.
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Post by epeanymous on Jul 14, 2020 13:51:32 GMT
I have some small paid gigs I usually do over the summer that were canceled.
My institution also froze salaries, so while I got the raise I was entitled to for a promotion, I didn’t get the merit raise I would otherwise have received as well.
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Post by teacherlisa on Jul 14, 2020 14:40:48 GMT
I am a 911 dispatcher. I have increased income due to mandated OT.
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Post by susancinpa on Jul 14, 2020 14:42:05 GMT
DH and I both are salary employees. I have been working from home and he is deemed essential, so we are lucky that we haven't had a disruption to our income.
However, there will be longer-term affects as I won't be receiving a COL/merit increase this year, which usually happens in July. DH's annual bonus will take a huge hit, but he won't see that until the end of the first quarter of 2021. He hasn't heard anything about their COL, which usually occurs in the 3rd or 4th quarter of the year.
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Post by sunshine on Jul 14, 2020 15:05:15 GMT
I finally understand why so many here think/thought it's no big deal for the economy to selectively shut down. Over 70% are fortunate enough to have had no hit to their income and some increased their income.
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Post by auntkelly on Jul 14, 2020 15:34:12 GMT
We've been pretty conservative with regard to our investments since retiring almost four years' ago, so we haven't felt an immediate impact.
I worry about the lingering effect this virus will have on every level of the economy (local state national world) for years to come. I think the stimulus package was necessary, but I think my children's children are going to be paying for it.
My state government is in dire straits due to a combination of recent chaos in the oil and gas markets and covid's effect on the economy. We've already had one large independent oil and gas company go bankrupt, which will greatly impact our local and state economy. I expect real estate prices to plummet in my area.
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scorpeao
Pearl Clutcher
Posts: 4,521
Location: NorCal USA
Jun 25, 2014 21:04:54 GMT
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Post by scorpeao on Jul 14, 2020 15:34:20 GMT
I work in a state veterinary diagnostic lab. We do testing on livestock that enters the food chain. We are an essential business, so it's business as usual around here. There's talk of furloughs, but last time state workers were furloughed we were exempt. I'm hoping it's the same this time around.
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