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Since the start of COVID-19, how has your financial situation changed?

Since COVID-19, how has your financial situation changed?

  • My financial situation has improved

    Votes: 72 50.0%
  • My financial situation has gotten worse

    Votes: 21 14.6%
  • My financial situation has not really been impacted

    Votes: 51 35.4%

  • Total voters
    144

fatty

Member
I count myself blessed that I have been able to keep my job throughout this pandemic, but like many I have been forced to work from home.

Before Corona I was contemplating my exit plan from my company, not because I hate the work but I hated having to drive 30 minutes to a cubicle. Fortunately, because we have shown to be productive our company is looking to give us the option to work from home for a majority of the time going forward and if that is the case I can see myself sticking with it until I can 'retire' from this profession. My wife, being a nurse, has also been able to sustain employment and in some cases qualify for hero pay.

Back in June I was also able to take advantage of a low rate of 2.375% to refinance my mortgage so that has benefited me as well. So overall my position has improved, not drastically but it still gotten better. Saving on gasoline helps, too.

Hopefully, if you have struggled before you are now on an upward trajectory but I'm curious how everyone is doing.
 

Heimdall_Xtreme

Jim Ryan Fanclub's #1 Member
My financial situation has improved.

Thank God, My work is stable and in demand, especially in these times.

I am taught to save money and not spend money on things that I don't really need.

I only buy what is necessary.
 

Thaedolus

Gold Member
Probably improved slightly at the end of the day. I did take a 20% paycut toward the beginning when the economic impact was uncertain, but I got back paid for it. When daycare gets shut down due to a positive test we get money back and I’ve worked remote so much I’ve probably saved on gas. My wife’s work paid for her whole time of when we got the rona but she was asymptomatic so it’s just been like extra vacation for her, and I’ve been working from home a lot anyway. Also the interest free student loan has been nice for taking a huge chunk out of the principal this year.

So meh, we’re lucky to be both in industries that are somewhat insulated and in positions that aren’t first on the chopping block. I don’t recommend catching the rona though, it was a pretty shitty week or so and I’m still not back 100%
 

888

Member
My wife is working at home now. Saves about 300 in gas and saves her 3 hours of driving a day. I get more remote work and have also gotten a promotion. So overall in a better situation.
 

Fbh

Member
Hard to say.

I just started my own business a couple of months before this whole Corona shit (and like a week before some massive protests and civil unrest around here...yay!).

So I was already in this mentality that money would be tight for at least a year until the company can grow and become more profitable. It's just that this whole Corona (and the protests) stuff has definitely slowed down our growth and business potential.

Overall we've been doing pretty good considering the circumstances, it's just that we'd probably be doing a lot better without all this shit.
 

supernova8

Banned
Our entire corporate group has cut salaries, chopped bonuses (entirely in some cases) and we are also expecting negative changes to our private health insurance packages starting from next year. It sucks ass but I guess I still have a job and I have always spent below my income so it's not like I'm struggling.

It just means that the extra money I had to invest in tech stocks is now gone. I could sell my stocks but there's no point.

Just kinda sucks because some of the temp staff have been let go and I've had to take on almost all of their work, so my workload has gone up significantly while my pay and compensation have gone in the other direction.

But yeah....... I don't have COVID so I guess shit happens. Will see whether the company rewards people for not jumping ship during these turbulent times. Especially in my department we have plenty of marketable skills and could easily leave.
 

JimiNutz

Banned
It's improved.
I got a new better paying job and have managed to save a lot more money. I wish I'd made more investments though.
 

Moogle11

Banned
No impact on income for my wife or I thankfully. And we’re better off in the sense that we spent less from not traveling (had an international trip canceled) and not eating or drinking out as much. Not at all the first few months and just once a week or so at outdoor places once temperatures cooled (was hot, humid and miserable all summer here).
 
I have to admit the lock down has been great for me.

Working from home means i can get more time with the kids, we save money on gas, parking and kindergarten. I would often buy lunch but now my wife just makes for me each day.

Im actually very happy it happened, my country is pretty much untouched and i dont know anyone personally affected
 

diffusionx

Gold Member
From an employment perspective, it's the same, although I am now looking for a different job and perhaps relocating. From an overall perspective this year has been a DEFCON 1 disaster for me in every way including financial.

I really think 2021 is going to see a lot of layoffs for people who spent 2020 in pajamas working from home. These big companies resisted layoffs but the problems are now structural, there is no V-shaped recovery, because we absolutely cannot return to normal life when the flu is going around.
 
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J-Roderton

Member
Stable work, extra pay during first month of crisis, and saving on gas money from not having to drive. Been okay so far.
 

Paulxo87

Member
technical director in the live events and trade show industry. six figures last year. been on unemployment since march. This destroyed the entire industry. We do virtual events now but my company has basically lost 90% of it's income

Doesnt look like any recovery until late next year into 2022....

I have a few years of living expenses saved up so I can ride it out once my benefits expire in march but I'd rather not. Not sure what I'm going to do... I may change careers.
 
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crumbs

Member
technical director in the live events and trade show industry. six figures last year. been on unemployment since march. This destroyed the entire industry. We do virtual events now but my company has basically lost 90% of it's income

Doesnt look like any recovery until late next year into 2022....

I have a few years of living expenses saved up so I can ride it out once my benefits expire in march but I'd rather not. Not sure what I'm going to do... I may change careers.

I'm in a similar situation (event management), although I've been able to keep my job, but that will likely change soon as this drags out.

Nearly bought a house last year, but now I'm glad I didn't so I have some savings built up. Been researching career changes as this industry has basically been destroyed. It's been hard seeing nearly everyone you've worked with the axe.
 

Paulxo87

Member
I'm in a similar situation (event management), although I've been able to keep my job, but that will likely change soon as this drags out.

Nearly bought a house last year, but now I'm glad I didn't so I have some savings built up. Been researching career changes as this industry has basically been destroyed. It's been hard seeing nearly everyone you've worked with the axe.


which group are you with? Freeman? It's devastating. Our company had the best year of it's 30 year existence last year and then bang, it's gone. I mainly did pharmaceutical trade shows they would fly me city to city. People just don't understand the amount of people this industry employed. It's just sad.. and yeah no recovery in sight and it will be a slow recovery that takes years.
 

crumbs

Member
which group are you with? Freeman? It's devastating. Our company had the best year of it's 30 year existence last year and then bang, it's gone. I mainly did pharmaceutical trade shows they would fly me city to city. People just don't understand the amount of people this industry employed. It's just sad.. and yeah no recovery in sight and it will be a slow recovery that takes years.

No, I work for a smaller contractor that coordinates technical services for sporting events. It's going to be interesting applying for jobs when all my references are probably unemployed as well :(
 

Paulxo87

Member
No, I work for a smaller contractor that coordinates technical services for sporting events. It's going to be interesting applying for jobs when all my references are probably unemployed as well :(


The only silver lining is that there is going to be such a pent up thirst and demand for in person events again 2022 could take off like a rocketship. Just gotta hang on somehow until then. We'll make it
 

EverydayBeast

thinks Halo Infinite is a new graphical benchmark
This is what pandemics do, primary criticizing peoples ways of living we can all agree the one time covid relief package wasn't enough lol
 

Super Mario

Banned
Many stocks have rebounded. People are still working. I am doing fine, all while getting government handouts for nothing.

The real victim group is small businesses. They had their asses handed to them by COVID.
 

Mistake

Member
My business is fine. Actually, it has improved because of all the people leaving states that are more strict than mine.
 

JORMBO

Darkness no more
No raise this year but I save money on gas and coffee working from home. The office was the only place I really drove to that wasn’t really close by so my car is barely getting any wear and tear now.
 

Pagusas

Elden Member
My freelance business has taken a hit, but that was always "play" money for me anyway, my regular job I actually got promoted twice and a 20k raise, all during the pandemic (but I've also been kicking major ass). My wife's job has been stable too. We have cut back on spending though to make sure the savings is extra padded to protect against an unknown future regarding job securities. Overal though, doing well. The only "new" cost is counseling, as we hit 8 years of marriage and found this whole pandemic and time has caused our communication to suffer, so thats an extra $600 a month, figure the government stimulus paid for it, lol
 
Had a 20% pay cut for 3 months and my 4% raise was suspended, but I’m still saving a bunch since I’m not eating out nearly as much or buying frivolous shit.
 

lock2k

Banned
Improved greatly since I don't have to spend money to eat out nor to fill gas. Still have a shitty salary though. Lol
 

Kadayi

Banned
Self-employed so things were a little quiet for a period earlier in the year but I got some relief from the government which was handy, however, it has been pretty busy since then and I've picked up a new client which was nice. Unclear what the long term looks like, but I'm just keeping the outgoings modest, banking money and hoping that come the New year there's a Vaccine in play. Overall financially I would say I'm probably kind of where I'd expected to have been without the Covid. New Year might be tough, but we will see how we go.

I know I'm in a fortunate position, but a lot of people are definitely suffering. Thoughts go out to everyone currently going through hardships. Here is hoping to an end to all of this.
 
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DJR

Member
I was doing ok, but I quit my job about a month or so ago (probably not the best time to do it). Moved back in with my pop, and providing an interview goes well next week, will be back in work. Trying to save for a deposit as I was pissing money away on rent. Fingers crossed!
 

Jooxed

Gold Member
It hasn’t. I work in healthcare. Well they did give us all a raise for working with covid patients.
 
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Kiwicha

Member
Before the China virus (lol) I was doing great. After it hit, I didn't earn a cent during 3 months because of a lockdown. Now I'm doing ok, some would say great compare to many people who are strugling with the way things have change, but I like that I have a new "time for myself and the ones I love" attitude towards life that I didn't have before 'cause I was kinda falling into workaholism.
 

Weiji

Banned
Better, less eating out. I’d much rather go back to normal though, it’s an expense I prefer to incur and can’t.

Sorry to the service people here, so horrible for you guys.
 
H

hariseldon

Unconfirmed Member
Saving money on petrol and car wear and tear, otherwise not much different. I feel exceptionally lucky given the circumstances. I am painfully aware that it might not tension that way.
 
M

Macapala

Unconfirmed Member
I bought a second property. So pretty damn good.
 

rinnfortehwin

Neo Member
Definitely improved. Doesn't hurt that i was waiting for this black swan in the stock market when covid hit, bunch of ppl made a killing buying any random stock when everything dropped
 
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