has covid fucked you in the wallet? (1 Viewer)

[ameraal]

are you strapped for cash? are you doing better than ever? what should i do with my pension fund (hey, pen!)?

i'm curious how people's financials are in the midst/wake/aftermath of this potentially colossal fuck up of the world economy.

multiple choice but feel free to elaborate-19.

 

[ameraal]

i've been pretty fucked and not in a good way - zero income from the bar obviously which is very likely never opening again, zero income from my other job which relies on advertising of high-end goods and zero income from dance projects.

i've put off buying the apartment i live in as there's pretty much nothing coming in and the real estate market is likely to change drastically and invested part of that money when the market crashed.

 

[Mats]

I'm a bureaucrat and lucky in that sense. my contract however ends March 2021, and while I can't be terminated for the remainder of the contract, it can't be extended either and who knows how many vacant jobs there'll be then with so many unemployed already now. obviously there's unemployment benefits...

BASIC INCOME NOW

 

[Mats]

i've been pretty fucked and not in a good way - zero income from the bar obviously which is very likely never opening again, zero income from my other job which relies on advertising of high-end goods and zero income from dance projects.

i've put off buying the apartment i live in as there's pretty much nothing coming in and the real estate market is likely to change drastically and invested part of that money when the market crashed.

I wonder how quickly the economy will recover, at least to a stable point (because let's face it, we can't go back to the same illusion of eternal growth either). they keep talking about L, V and U scenarios. the dips will be pretty swift but who knows how it'll go from there

I hope the bar is not all lost

 

[Indie]

There's been no change in my income (ok, not getting dividend from work shares this year which is more than a few pounds, but I'm not going to whinge about that) and I'm still working the same as normal.

I'm better off because I'm not frivolously eating lunches out or going on nights out or paying for non-commute petrol etc.

 

[ameraal]

I hope the bar is not all lost

it's contingent on the place upstairs and they've let all their employees go (after trying takeaway only at a loss for a couple of weeks). so it really depends on the landlords suspending rent. in an ideal scenario where going to bars again is feasible i'd like to turn the ground floor into a cafe and keep the underground dungeon as a bar.

 

[Lucille]

I was feeling quite guilty about this last night, as my company have furloughed me, but are topping up the government subsidy so I get 100% of my salary. My outgoings are minimal as all I buy is food and wine so right now I’m actually saving a lot of money which I’m obviously very grateful for. As mentioned in the other thread my rents about to go up as I’m losing my flatmate but my landlord’s offered to drop the total rent until the quarantine is over. I work in interior design so the future of the industry is a bit uncertain, it’s linked to the property market which looks like it’ll tank, but we’re grimly hoping that business will actually be quite busy post quarantine as people will be sick of the sight of their own houses.

 

[Indie]

what should i do with my pension fund (hey, pen!)?

Keep it where it is. Obviously there's risk but markets will rebound at some point (even if that's 20 years, assuming you're not planning on retiring next year). Now is the right time to be investing especially in vehicles like pensions where risk is spread over hundreds of different investment types. Buy low, sell high and all that.

(This kind of stuff is practically my career and professional qualification, so I'm not just some bloke down the pub dispensing "knowledge")

 

[Ellie]

On a technicality my income has slightly increased, as I’m on my first full month of working since a promotion.

 

[Shirley]

(This kind of stuff is practically my career and professional qualification, so I'm not just some bloke down the pub dispensing "knowledge")

So that's why you sound like my PENSION ADVISER. YES EVERYTHING'S GOING TO BE FINE THIS IS JUST A PESSIMISTIC PROJECTION JUST KEEP PAYING US OUR FEES

 

[Lucille]

My boss did feel fit to tell me her pension had lost 50k in a week, I didn’t have too much sympathy as it’s still about 48k more than what’s in MINE.

 

[ameraal]

Keep it where it is. Obviously there's risk but markets will rebound at some point (even if that's 20 years, assuming you're not planning on retiring next year). Now is the right time to be investing especially in vehicles like pensions where risk is spread over hundreds of different investment types. Buy low, sell high and all that.

(This kind of stuff is practically my career and professional qualification, so I'm not just some bloke down the pub dispensing "knowledge")

oh, that was a joke. i don't have a pension fund.

 

[Mats]

Keep it where it is. Obviously there's risk but markets will rebound at some point (even if that's 20 years, assuming you're not planning on retiring next year). Now is the right time to be investing especially in vehicles like pensions where risk is spread over hundreds of different investment types. Buy low, sell high and all that.

(This kind of stuff is practically my career and professional qualification, so I'm not just some bloke down the pub dispensing "knowledge")

Mr M and I are opening a joint account for investments (passive, we're not going to be hands on, so no big wins but hopefully a small supplement to pension)

 

[Indie]

oh, that was a joke. i don't have a pension fund.

Fair. Ha.

 

[Indie]

So that's why you sound like my PENSION ADVISER. YES EVERYTHING'S GOING TO BE FINE THIS IS JUST A PESSIMISTIC PROJECTION JUST KEEP PAYING US OUR FEES

But, everything *will* be fine, eventually. How much you want to keep playing the game depends on your own tolerance for risk

 

[Loufoque]

While I don't have any immediate issues, I can't shake a nagging of feeling of "what's coming next, and how long will it last?" Somehow, this confinement period has a lot of things in stasis... but the aftermath will probably ultimately be a lot more disruptive.

 

[Berly]

I’ve been furloughed but topped up to 100% salary. I’m still in my probation period and my contract is until Feb 2021. I work in the events industry.

so whilst money is fine right now, I’m probably better off from being in lockdown and I’d luckily JUST got tenants into my house before all of this (previously paying rent and mortgage for a couple months) so all in all I’m in a good financial place...

There is an ever looming sense of things going west.

 

[GNL]

I'm on furlough and my employer is paying the extra 20% of my wages (for now). Without my usual expenditure of cakes, cocktails and inexplicably expensive lunch from the cafes near work, I've managed to leave my overdraft for the first time since I was a student. Rent will dip me back in, but I hope to be out of it for real next month.

My big concern is that I work in a sector that is heavily effected by the pandemic, and most predictions of the exit strategy suggest that large gatherings will be off the cards for the foreseeable future, so I don't feel much confidence that I'll have a job for that much longer, and I think if I get let go or my place of work goes under, I'll have to find another career in the middle of a depression.

I'm also concerned because my partner and I have just moved in together (technically at least. He's still locked down elsewhere) but his contract at work ends in a few months and I most definitely can't afford to pay the rent alone.

 

[big ron]

I've lost a fair chunk, probably about 2-3k a month now, but having worked for myself for the past 8 years solid and many years on and off before that it doesn't really register. I'm used to fluctuating income. We've got enough for rent, food and booze. I've got a load of weed and the means to grow myself more when that runs out.

A lot of outgoings have been put on hold luckily, but it is making me question what I spend. I've got a nice posh 4x4 gathering dust on the drive, I've not got any fatter despite not being able to use my £100ish gym membership. As others have mentioned I'm spending a lot less because we can't eat out or go to the pub. I said last night to Ms Ron this feels a lot like when we first moved to Ibiza and we lived on fuck all (I remember once scrabbling around for coppers to go to the water fountain and fill up bottles) but we're all together and happy and I feel closer to my family than I have for the past couple of years.

It'll probably all go to tits when things start to improve in some way and I'll be back to spanking money on frivolities. The new business is thriving, I've got a ton of leads and if I can convert just a few of them we'll be doing very well by the end of this year, but there is a little part of me that just wants to be back in a crumbling old damp house in the sunshine with my dog and my rusty quad bike without a fuck to give.

 

[win_the_game]

I’m lucky in the sense I’m on a permanent contract in the public sector so still on full pay.

I do wonder what will happen once this is over. I sense massive public sector cuts will be de rigueur over the next few years in response to the current increased level of spending.

 

[Dark Carnival]

I'm on furlough gaining 84% of my net salary and I'm spending a lot less in lockdown, so I'm not that worried for now. I am however worried about the aftermath.

 

[big ron]

I'm on furlough gaining 84% of my net salary and I'm spending a lot less in lockdown, so I'm not that worried for now. I am however worried about the aftermath.

I will probably justify my post covid cash spanking as a fiscal stimulus policy for the greater good. I mean buying drugs is a way of invigorating the economy right?

 

[Kate]

Earning the same (but spending less) and I think the pharmaceutical industry is a pretty safe place to be right now. I'm VERY LUCKY

 

[Kate]

I was wondering the other day if pubs etc will have to whack their prices right up to make up for lockdown.

 

[VoR]

I started a new job in January with a six month probation period, so naturally the spectre of imminent recession has me a little nervous, but as of right now I'm insanely busy and my markets generally seem to love me - with the exception of the FUCKING GREEKS who are the absolute bane of my existence at this point. So I'm cautiously confident.

Like most, spending less. I have opted to attempt a DRY APOCALYPSE since I'm not physically socialising with my friends. So that's saving me a rather sobering fortune in every sense of the word.

 

[big ron]

I was wondering the other day if pubs etc will have to whack their prices right up to make up for lockdown.

Probably go the other way right? Super low beer prices to get the punters back in.

 

[ameraal]

if i were to reopen the bar there is no way in hell i would lower prices.

also: i actually think i'm spending more on takeout and booze and stuff i'm buying for my home (i can't wait for the ceiling fan i ordered the other day ).

 

[Dark Carnival]

I will probably justify my post covid cash spanking as a fiscal stimulus policy for the greater good. I mean buying drugs is a way of invigorating the economy right?

I will definitely be actively participating in the relaunch of the (ket) economy once all of this is over.

 

[Lucille]

I know I vowed never to touch drugs again in lockdown. But if it goes on for another 3 months EXCEPTIONS will be made.

 

[Dark Carnival]

The thing is I'm all out of drugs

 

[Kate]

Probably go the other way right? Super low beer prices to get the punters back in.

But they won't need to get us in. We'll be CLAWING AT THE DOORS.

 

[SDF]

I'm in the no change category for now, i'm still working, on full pay. I'm currently probably spending less money, as I'm not travelling to work/eating out/going for drinks.

But I really do think the disruption will be post-lockdown, when things go back to normal and the cuts start happening left, right and centre.

 

[Mats]

if i were to reopen the bar there is no way in hell i would lower prices.

I'll tip you double (if you do a coyote ugly on the bar)

 

[AGinAg (38)]

I have no job and no income aside from student loans. It's scuppered any chances of getting me job for a while.

Having said that we're pretty pro at being skint so it's not such a big deal for us.

 

[Mats]

I know I vowed never to touch drugs again in lockdown. But if it goes on for another 3 months EXCEPTIONS will be made.

we dug out an assorted collection of leftovers a few weeks ago. the aftermath was not pretty

 

[Beverley]

I'm doing ok

 

[ButterTart]

My wallet is doing quite well out of this, but only because so many others are being fucked in theirs. Can’t really be too pleased about that, in fairness.

 

[Mats]

I'm doing ok

 

[Lucille]

we dug out an assorted collection of leftovers a few weeks ago. the aftermath was not pretty

Yeah my friend decided to polish off a bag of MDMA the other night and very much regretted it the next day. That feeling that the world is ending combined with the fact it ACTUALLY IS isn’t hugely pleasant.

 

[Roe-st Potato 🥔 🌳]

I'm still getting paid in full for a tiny bit of teaching a week and will be till August.

I've told my employer I'm probably going to move on though so job hunting for something from September.