tcu2003
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Post by tcu2003 on May 7, 2020 8:07:53 GMT -5
Well, it looks like out benefits have been not so much. TD just got laid off from this job. His last day is 5/15. Now the big question is whether or not he wants to retire. We can handle him retiring early and it was in the cards when they threw this job at him. But he got a good offer that he could not resist. It still comes down to access to health insurance, COBRA is only going to last 18 months. That stinks! Hope the health insurance part works out!
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tcu2003
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Post by tcu2003 on May 7, 2020 8:15:33 GMT -5
Retirement accounts are down more than the other “benefits” we’re seeing, but I know those will be back. There are no mid-year bonuses, and raises and promotions are on hold right now (my review isn’t until Q3, so I’m hoping raises will be back by then). EOY bonuses are unknown at this point, as is our 401k match (my company doesn’t match until February or March of the next year, and don’t confirm the match until shortly before that point, though in the 13 years I’ve worked here, they’ve never not done their fairly generous 401k Match).
We haven’t had to pay daycare for your youngest or before/after school care for our oldest since mid-March, which has been nice for us but terrible for our furloughed daycare workers who we love. We’re eating out less - spending more on groceries, but not as much more as we did spend eating out. We’ve only filled up one of the cars with gas since we started WFH in mid-March. No random trips to Target to pick up a couple of things that turn into lots of things. We initially spent more on Amazon as we needed to get work stations set up for both DH and I (we basically had stuff for one of us, but not both), but outside of that, our Amazon spending is normal range or less.
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Ava
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Post by Ava on May 9, 2020 14:28:15 GMT -5
My retirement accounts are down, but they have been slowly rebounding.
I am saving on gas, wear and tear on the car, and eating lunch or a snack at work.
I have received the $1,200 stimulus money. My student loans are now in forbearance without accumulating interest, so I'm saving the money I used to send them to pay off my car in the next few months and get rid of that monthly expense.
I would say, overall, I am benefiting financially.
But I have a few caveats. First, the thought of "benefiting financially" of a tragedy when people are dying and millions are jobless horrifies me. Second, the situation hasn't affected me financially so far, but I believe with each passing day that I am inching closer to losing my job. We have very little to do. As a group, my teammates used to say we needed more people because we were stretched thin. Now, we are too many for the work we have and it's not sustainable. Third, there's more to life than money and this thing is taking it's toll on my mental and emotional well-being, and I know millions of others feel the same way.
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Post by The Walk of the Penguin Mich on May 9, 2020 14:34:58 GMT -5
Well, it looks like out benefits have been not so much. TD just got laid off from this job. His last day is 5/15. Now the big question is whether or not he wants to retire. We can handle him retiring early and it was in the cards when they threw this job at him. But he got a good offer that he could not resist. It still comes down to access to health insurance, COBRA is only going to last 18 months. That stinks! Hope the health insurance part works out! WOO HOO!! It looks like we got some good news yesterday. First thing is that our health insurance is covered for at least the next 3 months. He hasn't been 'laid off' but put on standby. As a result, benefits continue, but he just gets 0 hours. I think that they went in this direction because they ultimately are going to need his services and do not want to lose him, so a compromise between his boss and the big wigs. Not having an income come in is not as big a deal (even though he will get unemployment on standby) as is healthcare for us.
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TheHaitian
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Post by TheHaitian on May 9, 2020 15:25:33 GMT -5
Just checked, our stimulus $$$ will be deposited on 05/13
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stillmovingforward
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Hanging on by a thread
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Post by stillmovingforward on May 9, 2020 17:43:57 GMT -5
Yay for TD!
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crazycat
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Post by crazycat on May 9, 2020 19:14:01 GMT -5
I am making more money on UI than if I went back to work . But now we are reopened for curbside delivery , I work retail . I think I’m going to take a leave of absence for now . I am considered high risk and I just don’t see potentially putting myself and family at risk for minimum wage. I will most likely lose UI but whatever, I’m not risking it for that job .
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tcu2003
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Post by tcu2003 on May 9, 2020 19:32:34 GMT -5
That stinks! Hope the health insurance part works out! WOO HOO!! It looks like we got some good news yesterday. First thing is that our health insurance is covered for at least the next 3 months. He hasn't been 'laid off' but put on standby. As a result, benefits continue, but he just gets 0 hours. I think that they went in this direction because they ultimately are going to need his services and do not want to lose him, so a compromise between his boss and the big wigs. Not having an income come in is not as big a deal (even though he will get unemployment on standby) as is healthcare for us. That’s awesome news, mich!! Yay for you and td!!
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Post by The Walk of the Penguin Mich on May 11, 2020 11:14:00 GMT -5
That stinks! Hope the health insurance part works out! WOO HOO!! It looks like we got some good news yesterday. First thing is that our health insurance is covered for at least the next 3 months. He hasn't been 'laid off' but put on standby. As a result, benefits continue, but he just gets 0 hours. I think that they went in this direction because they ultimately are going to need his services and do not want to lose him, so a compromise between his boss and the big wigs. Not having an income come in is not as big a deal (even though he will get unemployment on standby) as is healthcare for us. TD never even got to his last day of 5/15 and they called him back to work. I think he was starting to like the idea of hanging up his slide rule for retirement.
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Deleted
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Post by Deleted on May 11, 2020 19:44:40 GMT -5
I received the latest Time magazine today. It is DH's subscription, and it runs out next week. This issue focused on the economic devastation that the covid-19 virus has had on lower class workers. I don't actually know workers that fit that description except for a few of you who work retail or other minimum wage jobs. It was talking about how most college graduate workers are being spared the economic hardship, and that is the group that represents my family and friends. Meanwhile, the working class is being slammed. I would normally claim that almost all of us are working class because we all work, but I will admit that I know what they mean by that term. I know countrygirl2 has talked about her renters. And I know a few of you have talked about being furloughed, etc. But it just never hit home until I read that issue. I am embarrassed that I've been posting about spending on the house, etc. Really embarrassed. Our first world problems don't even deserve that name. They are the "privileged" problems. Just something to think about.
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Deleted
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Post by Deleted on May 11, 2020 20:57:02 GMT -5
100% agree with SouthernSusana. Most of my neighbors are what might be called labor and trades. Flooring sales, construction supervisor, copier sales, flooring installer, brick and stone mason, landscaper, commercial cleaning company worker, shop manager at auto sales/repair place, cafeteria worker, etc. All unemployed for now. But the oil collapse is hitting many white collar folks here too. I just got out of a 2-hour meeting of our HOA board where one director shared that her husband was laid off April 1 from his executive position in oil and gas. Tough days ahead for many financially.
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countrygirl2
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Post by countrygirl2 on May 11, 2020 21:02:04 GMT -5
So far our other renters seem to be making it. We helped one other.
The young man paid part of their rent and he is working the rest out, don't know if he wants to but hubs asked him to. Since its low skill stuff we are allowing him $10 an hour. He has done $110 off so far and they paid $200. So 14 more hours and May is done, we gave them April. His other half was so worried they couldn't pay I think she volunteered him, don't really know how he feels about it.
Hubs is no slave driver anymore, they start at 9 and today worked 6 hours. Tomorrow he is helping hubs put fabric down in the garden and going to help us plant, that should be interesting. Doubt he has ever seen a garden before, LOL! But hubs said if we don't get it in, they are predicting rain everyday for about 4 days, I'm afraid the seeds will wash away. Did last year, I planted beets 3 times I think. Their rent is $450 so it will be paid. He thinks he might go back the 18th, they are going to phase them in. We are also buying groceries weekly for them, they still have meat they had bought for their freezer. Her grandma sent her some money, I told her keep it, they needed license plates and oil changes. He is getting minimal UE after child support is deducted. No $600 they can't find out why he is not getting it and no stimulus. Was sent to an old bank account, she can't get it to take the new information. So they are hurting bad. I told hubs he may not want to work for it, he said to bad.
They are able to keep up with the utilities from the UE and this way won't be behind on anything from us. Still they are getting so little money, it has to be hard. I do hope he can get back to work soon as we can't do this forever. Right now with not going anywhere and only getting what I order online I'm doing really well on groceries for both of us. These are the kinds of people that are suffering and there are millions with no help. We could not do this for all our renters. Rent forgiveness yes, food too, uhhhh, could get to be to much after awhile. These are some of the I'm $400 away from having nothing group. I hope they learn from this but I doubt it.
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countrygirl2
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Post by countrygirl2 on May 11, 2020 21:06:57 GMT -5
Yep the people we personally know in our age group are ok. Most of us have SS, many have investments, or pensions, some inheritances. If our bunch are doing badly we don't hear about it. But the younger ones are hurting and those with no higher education are hurting. But this is going to get into the educated groups too. I hope nothing happens with son, he is pretty secure with the DOD but noone is immune totally.
But if it does, we have houses and he could find something and move on again. We can help him if needed, but he would be ok, just have to get into retirement funds and none of us wants that to happen.
I just feel so sorry for the paycheck to paycheck people. Anymore they just pay them enough to scrape by, not save or get ahead.
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Deleted
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Post by Deleted on May 12, 2020 10:24:33 GMT -5
I am embarrassed that I've been posting about spending on the house, etc. Really embarrassed. Our first world problems don't even deserve that name. They are the "privileged" problems.
Just something to think about. I think this is one of the things that will lead to unnecessary outbreaks. This and rabid constitutionalism. Getting finger nails painted puts people at unnecessary risk. Going to the clothing boutique to buy clothing that's a "want" not a "need" puts people at unnecessary risk. I don't agree with locking down all businesses. But, when you start sending "non-essential" workers back to work, everyone is at an unnecessary higher risk. My DS who works for WalMart is at great risk but has finally broken the 40-hour worker barrier. For some reason, they still don't seem to think they have to provide him access to any health insurance, but that's a topic for a different post. So, his income nearly doubled. Alternatively, his GF is a cosmetologist and was laid off when this first started. She has still been unable to get unemployment. She calls every.single.day and has never been able to speak to a human being. She's emailed - no answer. They "denied" her because in 2018 she worked in a different state. They want proof of that income but she can't ever get through to give them their requested information. I hear this over, and over, and over in this state. She's scared to go back to working so close to people, but volunteered to be one of the first people back to work because she can't pay her bills. The CARE money should have been issued as stimulus directly to lower-income tax-paying citizens. Instead, many of them are unable to pay their bills and feed themselves because none of the larger states' UI systems can handle the load. And, I find it hard to believe that wasn't a known issue when the Feds made that choice...
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tcu2003
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Post by tcu2003 on May 12, 2020 12:40:32 GMT -5
The CARE money should have been issued as stimulus directly to lower-income tax-paying citizens. Instead, many of them are unable to pay their bills and feed themselves because none of the larger states' UI systems can handle the load. And, I find it hard to believe that wasn't a known issue when the Feds made that choice... It’s not just a larger state problem. I’m in Kansas and ours was nowhere equipped to handle the load based on stories from my cousin and a couple of others.
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Post by The Walk of the Penguin Mich on May 12, 2020 12:47:51 GMT -5
I am embarrassed that I've been posting about spending on the house, etc. Really embarrassed. Our first world problems don't even deserve that name. They are the "privileged" problems.
Just something to think about. I think this is one of the things that will lead to unnecessary outbreaks. This and rabid constitutionalism. Getting finger nails painted puts people at unnecessary risk. Going to the clothing boutique to buy clothing that's a "want" not a "need" puts people at unnecessary risk.I REALLY wish people would not assume this. I get a pedicure monthly because I can no longer reach my toes. I would say that 90% of the women (and men) sitting in chairs next to me are at least 60 or older. They either no longer have the manual dexterity to clip their toe nails, or (like me) can no longer reach them due to joint issues. Many do not even get their nails painted, polish is the least of it. My last pedicure was 3/12. Luckily, DH was willing to cut my toe nails for me but my nails had already cut my adjacent toes before I asked him to cut them. BTW....no local podiatrist office is open.
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TheHaitian
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Post by TheHaitian on May 12, 2020 20:09:13 GMT -5
And karma came around and said: don’t you wish... my wife sent me this today she got from her job (her review was also today so she knew the first part): president.georgetown.edu/financial-response-to-covid-19-may-2020/So no raise for the wifey come June...so bye bye at a minimum $1,625 That is where it really hurts!!! They have a nice matching plan of 10%; so that is at a minimum ~$6,250/year. Ouch! So about ~$7,875 cut for next year.
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Deleted
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Post by Deleted on May 12, 2020 20:49:28 GMT -5
And karma came around and said: don’t you wish... my wife sent me this today she got from her job (her review was also today so she knew the first part): president.georgetown.edu/financial-response-to-covid-19-may-2020/So no raise for the wifey come June...so bye bye at a minimum $1,625 That is where it really hurts!!! They have a nice matching plan of 10%; so that is at a minimum ~$6,250/year. Ouch! So about ~$7,875 cut for next year. Only the retirement contribution is cut. The merit raise isn't really a loss because she hasn't been getting it. Still that is about a 10%_pay cut. On the other hand, you got a stimulus payment of almost $3000 even though you are both employed. It really isn't that bad considering!
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Deleted
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Post by Deleted on May 12, 2020 21:07:48 GMT -5
My company cut all the 401K matches for the remainder of the year as well. They also are skipping raises for salary employees this year and upper management and the board are all taking a 10% pay cut. If this shutdown continues this could be just the beginning. I'm hearing rumors our governor is planning on extending our SAH order that was supposed to expire on Monday....so...yeah...awesome.
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plugginaway22
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Post by plugginaway22 on May 13, 2020 6:09:20 GMT -5
Received the full $2400 stimulus money today via DD and I am surprised. Since we did not do our 2019 taxes, this is based on 2018 and we expected reduced amounts based on income (isn't it AGI?). Putting it aside to pay our 2019 Federal tax bill which is in the neighborhood of $3000.
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TheHaitian
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Post by TheHaitian on May 13, 2020 7:15:37 GMT -5
$2,900 was deposited this morning, saving it for emergencies.... did not even think about taxes!
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Deleted
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Post by Deleted on May 13, 2020 13:25:32 GMT -5
DS just found out that he's going to get hazard pay for working of $50/paycheck. Now, keep in mind, this is a straight $50 and he works maybe 4-6 hours a week these days making $11/hour, so it's a pretty big pay boost for him.
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