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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Covid money issues

53 replies

Gwilliams83 · 17/05/2020 17:50

Hi all, long time lurker but first time posting here. DH received the devastating news on Friday that his pay is getting cut by a significant amount. While we feel fortunate that he still has his job, it just feels like a blow when we could do with the money now for a number of things. AIBU to feel pretty down about the whole situation? Hoping to hear from people who can relate and give me some positivity!

OP posts:
Brakebackcyclebot · 17/05/2020 17:54

You aren't being unreasonable to feel down. However, you have to look at the upside. He still has a job.

Look at the things you wanted the money for, prioritise and choose which you can let go/delay/cut down.

zscaler · 17/05/2020 17:54

That’s really tough OP - I’m sorry Flowers

Not sure what positivity I can offer, because it’s really tough!

Maybe having to have a strict budget will help you make long term savings when your income returns to normal - but that’s maybe not a great silver lining right now.

I hope you make it without too much hardship, and that you can access support if you need it - there is a lot about at the moment.

Oldbutstillgotit · 17/05/2020 17:55

Could you apply for Universal Credit ?

Original poster
Gwilliams83 · 17/05/2020 18:53

His base pay isn't affected but it is his bonus that is being cut significantly (which they are entitled to do as it is discretionary), the issue is that in his role the bonus makes up nearly half his overall package so equates to a large drop in discretionary income. We're certainly going to hold off on things to prioritise building up the savings buffer with all the uncertainty going on.

OP posts:
livingthegoodlife · 17/05/2020 19:13

We're in a similar position although not a bonus situation, just basic pay being cut significantly. We won't be able to afford a holiday for at least a year and it's a good job the kids hobbies are cancelled because it would be a struggle to afford them. But I'm trying to be grateful about still having an income. It's frustrating putting plans for garden renovations and decorating on hold but it's not the end of the world.

CrowdedHouseinQuarantine · 17/05/2020 19:23

you will cope,
your health is important.

BernadetteRostankowskiWolowitz · 17/05/2020 19:26

That is a shame.

It's not wise to live according to the bonus, rather the base, and use any bonus as just that, bonus. But life is life and people spend within their means.

Can you look now on how to increase income (UC or an increase in your own earnings) and how to decrease your outgoings (brand or supermarket swaps/cut things like sports packages on sky if you have them)?

TidyDancer · 17/05/2020 19:26

I can understand being disappointed but if you can afford food and bills that's all that really matters financially right now.

Nofriendsclub · 17/05/2020 19:28

We won't be able to afford a holiday for at least a year and it's a good job the kids hobbies are cancelled
Really?
You think that’s the same as People struggling to pay bills/ feed themselves

Original poster
Gwilliams83 · 18/05/2020 14:59

Yeah, we calculate everything from base pay so we will get by. It would just be nice to have a bit more accessible cash, as most of the bonus is now deferred stock compensation (to keep down the cash drawdown) which doesn't vest for a number of years. It just means that in cash terms right now, we don't have nearly as much as other people might assume based on occupation- meaning people are more dismissive over the setbacks we are having.

OP posts:
ViciousJackdaw · 18/05/2020 16:23

We're certainly going to hold off on things to prioritise building up the savings buffer with all the uncertainty going on

If you can afford to save then you've no business moaning about money. For crying out loud, there will be women out there (and it's always women...) going without food today so they can give their DC a meal. A little perspective is needed. I can't do the things I'd planned to either but I've had breakfast and lunch today and I'll be having dinner too. That makes me more fortunate than many people in this country right now.

attackedbycritters · 18/05/2020 16:27

You have every right to be upset at the cut in income. Just because someone might be much worse off does not mean you have to just be grateful for what you have. It's a shock and it will make you sad.

Muppetry76 · 18/05/2020 16:29

I wonder how much the base pay is... You can bet your last penny that most minimum wage jobs (a lot of which are at risk at the moment) don't offer even the smallest incentive, never mind a 50% bonus. Funny the op hasn't mentioned being entitled to uc...

Just be grateful he's still got a job, and one that is still paying his entire basic salary. Next year you can look forward to your holiday, hobbies, life of Riley. Some of us live like this constantly and need to count every penny, every month.

Muppetry76 · 18/05/2020 16:31

It just means that in cash terms right now, we don't have nearly as much as other people might assume based on occupation

Or do you mean we don't have as much as we should for the job he does?

CanofCant · 18/05/2020 16:34

Ffs, as usual it's another world on here and most people don't know they are born.

Waxonwaxoff0 · 18/05/2020 16:38

I understand you're upset but it's hard to be sympathetic when there are thousands who have lost their jobs and businesses right now. I'm on furlough pay which is less than minimum wage as I'm only on £8.75 an hour and I feel grateful for that as I'm still getting paid at least. Try and have a bit of perspective. If you can afford to pay your bills and eat then you can do without luxuries for a while.

Thingsthatgo · 18/05/2020 17:14

What sort of set backs are you having?

letmethinkaboutitfornow · 18/05/2020 18:05

YABU - first I voted YANBU but then I saw your update on bonus payment and worrying more about appearance ( we don't have nearly as much as other people might assume based on occupation- meaning people are more dismissive over the setbacks we are having ) than actually struggling and being impacted on essential level. Hmm

CayrolBaaaskin · 18/05/2020 18:08

Do you have a job op?

Original poster
Gwilliams83 · 18/05/2020 18:45

I do some consultancy work for my former employer, only around 2 days a week as we have 2 DC under 5 and I wanted to be there for them rather than a nanny. Might look into taking on a bit more now though since I won't have to travel at the moment like I used to need to.

OP posts:
Flamingofolie · 18/05/2020 18:54

You're allowed to moan, but it's poor taste given your further info and that there are people really struggling.

Original poster
Gwilliams83 · 18/05/2020 18:56

Not really sure why I'm getting attacked, I was only looking to hear from people also affected, since we're all in this situation together.

OP posts:
WaterOffADucksCrack · 18/05/2020 19:35

You're not getting attacked 😂

You and the pp who said about no holiday for a year sound out of touch. People are going without food never mind bonus pay!

heartsonacake · 18/05/2020 19:39

Right, so you aren’t having money issues. You’re just whinging because you have to cut back on luxuries and can’t go on holiday Hmm

CanofCant · 18/05/2020 19:40

Not really sure why I'm getting attacked, I was only looking to hear from people also affected, since we're all in this situation together

I just can't relate to someone who is most likely scraping by on 60k+ before bonuses. I have lost my job so have no need for childcare at the moment but if I were working then I would not be in a position to hire a nanny either.

How are we in this together?