lynnerself
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Post by lynnerself on Mar 13, 2020 14:16:44 GMT -5
DD is in the midst of making an offer on her dream home. With quite a financial stretch. But is now worried about how long it might take to sell current home. It's still early to see effect on home sales, but I can't imagine it won't be affected. Fortunately I think her own employment situation is stable.
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mollyc
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Post by mollyc on Mar 13, 2020 15:09:53 GMT -5
The big boss heard from my boss that she and her husband will be going into self-quarantine when they get back from Mexico. Not because they have reason to believe they have been exposed at this point but because that is what happens in a pandemic.
She will be coming in after hours to grab the things she needs from her office to work at home.
The receptionist told us that one of her daughters had stopped in to Walmart this morning and "Its like Christmas in there". I really hope DH doesn't expect me to shop this weekend. He's remembered something he needed everyday this week and I'm just done with grocery stores.
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lynnerself
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Post by lynnerself on Mar 18, 2020 12:39:17 GMT -5
DD made an offer on her dream home a week ago. And it was just accepted. It is a big financial stretch and uses all the cash they have. Closing on April 5th. But everything has gone to hell since then. She is a PT and only saw 3 patients yesterday, so is concerned about her job. And she needs to sell her current house. They may end up just forfeiting the earnest money ($2000) and stay put. Sad because they been looking for this perfect house for a long time.
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mollyc
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Post by mollyc on Mar 18, 2020 15:17:56 GMT -5
There is a 99.99% chance that I will become responsible for all of DD's expenses starting next month. With schools closed indefinitely, there is no way the Dance Studio will reopen.
The mall she works at is on reduced hours. Everyone expects it to be closed sooner rather than later. DD has worked at her employer's other location. Unlike the mall, that storefront has direct street access so it might be open longer. However, the other staff from the mall have seniority over her.
I was working for a friend who was behind with her clients data input. After this month, I probably was going to go down to 2 to 6 hours a month because we were almost caught up. Between the social distancing and the fact that her main employer has closed for the foreseeable future, I don't imagine she will need me.
I'm feeling very poor and defeated right now. I'll get over it but today it's bringing me down.
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emma1420
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Post by emma1420 on Mar 18, 2020 16:21:15 GMT -5
I'm in the middle of interviewing for a job that would allow me to relocate to another town I've wanted to relocate to.
Of course, now I wonder will there be a hiring freeze? If there isn't and even if I get the job will it get eliminated in six months? Even if it I get the job and it doesn't get eliminated will I be able to sell my house as I had hoped?
Then I have the general worries. I have a 3 month old at home, and I work for an organization that requires child care if you are working from home. If we have more than one lockdown (where I'd have to take PTO because daycare would be closed, and I'd run out after more than a couple weeks), then how long is it before I run out of money?
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souldoubt
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Post by souldoubt on Mar 18, 2020 16:43:12 GMT -5
DD made an offer on her dream home a week ago. And it was just accepted. It is a big financial stretch and uses all the cash they have. Closing on April 5th. But everything has gone to hell since then. She is a PT and only saw 3 patients yesterday, so is concerned about her job. And she needs to sell her current house. They may end up just forfeiting the earnest money ($2000) and stay put. Sad because they been looking for this perfect house for a long time. I think the uncertainty of everything is going to impact the housing market quite a bit the longer this goes on. How do you show your house when in some cases you can't or at least per current recommendations shouldn't be gathering in groups? Even if you do viewings by appointment only do you really want random people in your house right now or would you want to be a random person looking in someone else's house? That doesn't even begin to address possible job loss or a reduction in hours. Really just rhetorical questions but your post made me think about it because I've been wondering about the impact on home sales. Personally I would be walking away due to the unknown especially if they need to also sell their current house. Regardless best of luck to them.
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Blonde Granny
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Post by Blonde Granny on Mar 19, 2020 8:12:43 GMT -5
Being retired has it's benefits!. My brokerage accounts have lost more than I would like, but my checking and savings accounts are just fine. As I've said here way to many times, I live on SS and VA disability. I don't spend all my money every month, I have no debt of any kind, so for me I'm not worried about it.
What I am concerned about is being 75, and quarantined in my house.
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deminmaine
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Post by deminmaine on Mar 19, 2020 8:19:59 GMT -5
Well, I am supposed to close on the sale of our plant June 1. The purchaser makes and sells through items for gardening, so I am hoping that the time of year and the time allowed by people being home keeps their business strong so the sale goes through as planned, but I am increasingly worried they will just forfeit their downpayment. Along with this we are winding down the business, and planning an auction sale of equipment in mid May. With a close rein on receivables it looks/ looked good on getting 90+% of all of them. Now I am increasingly concerned about all of that. I had thought we timed our exit perfectly, until this.
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lynnerself
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Post by lynnerself on Mar 19, 2020 19:30:39 GMT -5
DD put her current house on the market today, so we'll see. She has until April 5 to back out of offer on her new home. I'm sure market is depress, but also, many people aren't listing either. She is not happy that her work is asking them to reassure patients that the PT clinic is "a safe place" to come in for appointments.
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lynnerself
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Post by lynnerself on Apr 1, 2020 9:34:51 GMT -5
DD may be losing her job. She was asked not to come to work today. No other details. She is supposed to close on a new house on April 5. And the offer on her current house is bogged down. They may have some difficult decisions to make. ETA Just found out DDs closing is pushed back to April 20th. So a little breathing room.
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Tiny
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Post by Tiny on Apr 1, 2020 13:46:56 GMT -5
At the end of February, my Florida property manager sent around a warning that rents might not be collected going forward (as renters stopped paying) and to prepare for such a happening. (It's funny how businesses seemed to have a better handle on the possible effects of the Covid19 than our government) . I have "re-arranged" where my paycheck money is going so I have $$ in my various accounts to cover my mortgage/HOA/other expenses. It was a good thing cause I haven't gotten a March rent check, and to be honest I doubt I'll get one again. The lease is up in September 2020. I can cover all my mortgages and expenses as long as I keep my job (and continue to get paid). It's just weird. And I'm glad I didn't over extend myself when I purchased a house less than 6 months ago. I expect there will be some stress to housing markets and banks/mortgages going forward.
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azucena
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Post by azucena on Apr 1, 2020 14:43:33 GMT -5
DH is a preschool teacher. His last paycheck will be this Friday. They don't have money to pay everyone involved in the facility since it is closed. It's hosted within a JCC (like a YMCA). His boss may be able to keep a handful of teachers on part-time hours to 'teach online'. I told DH to volunteer to be completely furloughed since I am the bread winner and my job is fine so far. He's likely to apply for unemployment if he qualifies - he's going to start researching.
We were both pretty sure that this was coming, but it's still hard for him. Fortunately, he will go back to work when they re-open so no longer term worry.
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Deleted
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Post by Deleted on Apr 1, 2020 18:03:13 GMT -5
Here $$ aren't going to matter. One city in my state already adopted an ordinance banning anyone without a mask or other face covering from entering any establishment/store such as grocery. I have one bandana, period, and no hope of getting more other than going to every local dollar store and WalMart which sort of defeats the purpose, doesn't it? I started looking for masks in February.
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lynnerself
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Post by lynnerself on Apr 2, 2020 18:20:49 GMT -5
DD just got furloughed. And the offer on her current house was pulled. Her husband is adamant about going through with the purchase of the new house, because they looked forever to
find the right one. Who knows how it will all work out. Not a smart move, but a leap of faith. If she gets unemployment, her student loan is paused and they rent their current house, they might make it. Probably with help from both sets of parents. His job is secure, she is a PT so eventually will return to work or find a new job.
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bobosensei
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Post by bobosensei on Apr 11, 2020 18:35:58 GMT -5
Our CEO announced more cuts to our company. They cut all the contractors at the beginning of the month. At the beginning of the week they said furloughs and layoffs would happen over the next 7 days and people impacted would be contacted directly. On thursday my department head said he still hadn't heard anything. I guess I'm okay. No one has heard anything so we think it was other divisions that were hit. I heard someone say they thought the executives were still deciding what to do so I don't know.
I'll be saving what I get of my stimulus money for sure now.
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countrygirl2
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Post by countrygirl2 on Apr 11, 2020 19:49:09 GMT -5
As long as the banks don't fail and we don't lose our savings we will be fine. I'm actually spending less money as we go nowhere. I am helping feed a renter and family and we may have to give more rent breaks but that is to be seen. Our one trucker just got back to work and he is struggling after surgery, also owes child support pays on an autistic son so we are thinking of letting him keep the second half of his April rent. He had been off with shoulder surgery and kept his rent paid. We don't owe on our houses and anyother time of year wouldn't have been an issue. But I think we can pay our insurance and half the property taxes, the rest are due in the fall. We aren't even going to try and rent the house till at least August or September. I am not going to try and be around people not knowing who they have been exposed to. It will be fine I think. Just have to see how it goes.
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lynnerself
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Post by lynnerself on Apr 11, 2020 20:14:11 GMT -5
DD unemployment request got denied. The problem is getting through to anyone to find out why. It should just be missing info, but everything is horrible stories of trying to get anything straightened out.
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countrygirl2
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Post by countrygirl2 on Apr 11, 2020 22:19:12 GMT -5
That is awful. One renter had the same issue, they filed, gave info. Need to go in and ask a question. First time was on hold 2 hours, then when transferred cut off. Second time on hold for 6 hours and gave up. It's a total mess. She said they gave up for now trying to ask are hoping later it will simmer down and they can get through.
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bobosensei
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Post by bobosensei on Apr 16, 2020 5:42:01 GMT -5
I made it through the cuts. They went for 2 weeks, but I found out yesterday my department is safe. With that said we were more or less told that expenses would continue to be scrutinized over the next 12 months. We are on a 5 year ‘pump and ’ from a private equity firm. 12 months from now will be coming up on that 5 years. Coworkers say we will be much better off if we are sold to a big tech firm. Regardless I’m prepping my finances as if I might be out of work for an extended period.
We did lose a few people I worked closely with. Two of them were completely ineffective at their jobs, and the other fantastic but likely let go as a political move from a young threatened executive.
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giramomma
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Post by giramomma on Apr 16, 2020 7:24:40 GMT -5
They are starting to talk furloughs for us. The last time, it was pretty minimal. 16 days over two years. We'll see what happens.
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mollyc
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Post by mollyc on Apr 16, 2020 10:17:32 GMT -5
This is the first week of my reduced hours. The decision was passed down that I can't use my vacation hours to top up my time for funding reasons.
I can live with the reduced pay for a few months. The reduced pension and insurance amounts are going to hurt.
My suspicions have been confirmed that the only raises in the 2020-2021 budget will be those mandated by government (ie if the minimum wage increase in June isn't suspended).
In Sept, I qualify to increase my pension contribution by an additional 1% of annual salary with the company matching my increase. I won't know until then if I will still get the matching part.
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daisylu
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Post by daisylu on Apr 16, 2020 11:27:58 GMT -5
Due to a large in house project, I had been working an average of 70 hours/week since January 2nd. We got pushed into working from home March 12th, which resulted in a new average of 45 hours/week. Just got word that we are expected back at the facility on Monday to continue working on in house project, so my hours will be going up again.
So far, no one at the facility has been diagnosed, and there will only be 5 of us working in our area. It is a fairly large area, so we should be able to avoid personal contact.
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plugginaway22
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Post by plugginaway22 on Apr 16, 2020 11:30:04 GMT -5
Wear a mask Daisylu.
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lynnerself
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Post by lynnerself on Apr 19, 2020 21:26:04 GMT -5
So better news for my DD. Right now it looks like she managed to sell her house in the middle of a pandemic.For about $20,000 less than she hoped, tho.
The bank financing her loan for the new house found out she got furloughed, and made them rewrite the loan. Bases on her DH salary alone and contingent on selling the current home. So they are happy to take what they can get for current home.
Price wise she had really bad timing. Her offer on the new house was made before the economy crashed. And sold her current house just now. They really want the new home, it's on acreage and far out of the city. So they are going through with it all. Everything closes in late May.
I just have my fingers crosses that nothing new comes up. And then, even if they lift the stay-at-home order, we need to decide if we feel safe helping her move.
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Deleted
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Post by Deleted on Apr 21, 2020 16:15:14 GMT -5
Last minute end of the day meeting at work today. While our company is doing great and has lots of business our suppliers aren't getting us what we need so they are having to implement emergency cost saving measures for Q2. For me, it looks like I'll have to take 5 furlough days in Q2 and Q3 (can use vacation, so no biggie), and they are halting 401K matches from July 1st until the end of the year. I didn't like that one very much! Salary people are not getting raises this year, but hourly (me) are still going to get merit sometime...supposedly July. Senior management is taking 10% pay cuts for the rest of the year.
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bobosensei
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Post by bobosensei on Apr 21, 2020 17:52:11 GMT -5
Found out earlier this week that our retirement matching was cut in half starting next month and will continue for 12 months. Our open enrollment is in June, and my coworker said he is pretty sure that our health insurance premiums will go up. We have pretty crappy benefits. I pay 140 a month for a HDHP with a 1500 deductible and 4500 or 5k a year out of pocket max. They also announced no bonus, no merit increases, but I already knew that was coming. We normally don't qualify for a bonus and the other areas of business are doing horribly.
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wvugurl26
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Post by wvugurl26 on Apr 21, 2020 18:59:40 GMT -5
My mom works for a university backed hospital chain. All 401k matches for the rest of the year are gone. Those staff they can't move to another role are taking a 25% paycut. They run a bunch of outpatient clinics and those are only seeing patients via telemedicine.
I think top leadership was taking a 10% cut but I'm fuzzy on those details.
The economic hits are real. I understand trying to flatten the curve but people have bills and they need to eat. I don't have a good answer but I feel badly for those people. They may have no income coming in and unemployment is overwhelmed to put it nicely in the two states I've seen.
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Apr 21, 2020 19:04:41 GMT -5
Everyone at DH's company is taking a 25% pay cut until December. That is not the end of the world for us we can cut back on other things. So far that is it they are trying to prevent lay offs. I am hoping they succeed because DH would likely be first in line being the last one hired. We were so excited when he finally landed another job, now it seems like the absolute worst time to be a new employee anywhere. If they do keep everyone through December then DH would have been there nine months so hopefully won't be first in line anymore.
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Deleted
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Post by Deleted on Apr 21, 2020 19:08:24 GMT -5
So, I just found out the hairdressers in my town are not getting unemployment. No state UI, no extra $600, nothing. I couldn't believe that. Meanwhile the high school kids that were making $100/week working PT at the restaurants are now making more than their parents on unemployment.
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Gardening Grandma
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Post by Gardening Grandma on Apr 21, 2020 19:51:32 GMT -5
Well this month I’m spending less on gas and groceries. But more on liquor. It may come out even. I have learned that it is possible to eat well and go to the grocery store 3 times in a month
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