How has the COVID19 affected you financially?

[DreamChaser23]

Do you think it will take a few years to recover at least when this is over?

I was made redundant just before it hit (beginning of March). Interviews were going well until about mid March. All the companies have said they are still keen to progress but can’t do a final interview until after lock down ends.

My redundancy package will last until the end of August. I was planning on starting a new job in May and banking my redundancy package to put towards a new car.

I’m not in dire straits but do need to start work by early September, at the latest. We’ll probably have to postpone buying a new car until next year too.

Appreciate I’m in a better situation than some.

As yet not at all.

I'm immensley privileged so far and definitely not taking anything for granted!

Our glampingsite and holiday cottage cannot have any guests. But we cant get the grant to help businesses because we are agriculturally rated so cant access the funds (its based on your business rating) so we have no income, and all the work I did for extra income (running courses, forest school) is off too.
Mt child is in the shielding group so we cant have anyone on the farm or risk opening all the time she is at risk.

Immediate finances are OK - we’re incredibly lucky to be able to both work from home and I’m classed as a key worker so my income is relatively secure (even if I’ll probably have to move into one of the more front line roles to support).

Long term, I’m worried about house, pensions, general economic future landscape; but trying to be grateful in the here and now.

DH self employed, may be able to get the 80% but not sure if will help much as has big overheads, also unsure if he will be paid for some work he has done. I'm on PIP which is not affected. But yes overall pretty difficult.

Have earnt nothing for the last 2 weeks. Infact I owe 3 weeks childcare in total to 3 different families. I'm a childminder.

Company DH works for is being badly hit financially by the coronavirus. Eve try one wants refunds for services that can’t be provided. I’m a contractor and my hours have gone overnight. We have debts and a mortgage. No savings. Things aren’t looking great for us.

Totally fucked!
Zero income and can’t furlough without shutting my business. Can’t get UC as I rent out a property that has a big mortgage on it. Tenant isn’t paying the rent. Can’t get a repayment holiday as I already missed one payment due to a mix up when I changed banks!
Me and my DC have barely any food as didn’t want to / couldn’t afford to stockpile! We are having to ration everything each day, I’ve already lost half a stone in the last 2 weeks.
But no sympathy for me as I am a director of a limited company. FFS!

DH has just been furloughed but as a teacher I am hoping I am secure. Still paying nursery but not after school club or extra curricula clubs. Not commuting but spending more on shopping as own brands aren't available. Bought some home school resources too.

I've been furloughed on 80% pay. Depends how long it goes on as to whether there is likely to redundancies at the end of that I suppose. I'm preparing for the worst.

Catastrophic.
Family income down massively for the year and no chance of it returning soon.
No government bail out.
2 children paying for University houses that they cannot live in because the campus is shut.
Burning through savings - not sure what to do when they are gone.

I think we are definitely in the minority but in the short term we are actually better off. £££ a month on commuting, discount on school fees/extra curricular activities and nursery fees. Plus nights out, hair appts etc all cancelled.

We were looking to move later in the year though which may now be impacted.

A lot of people in financial services etc are still business as usual just from home.

I am aware of other peoples situations though and doing what we can to help.

No effect yet. We are both home (not working but getting full pay) HOWEVER that may not last forever considering we don't know how long this may carry on. We are very lucky to be able to live in very little though as we have no mortgage. Dh's job will be the one to go first. I'm a teacher so that is safe enough. But we are financially able to live without his wage. If mine goes too then I reckon we could last a year.

Weirdly better off as all the commuting, work lunch and kids club costs have disappeared, we can't eat out, no takeaways and the holidays were cancelled with a full refund.

Very, very aware of this being largely luck, and feel terribly for all of you who are badly affected :-(

Down 20% on DP's earnings. No guarantee he'll have a job to go back to.

No guarantee I'll have my contract renewed in September.

OK right now, but give it a few months and we'll likely be fucked - at which point I will have to keep my vulnerable status secret and apply to work for the NHS again. Which would be a bastard, as I was rather relieved not to be working for them anymore when this started.

I've been furloughed so losing 20% of my income. I just hope my company will survive. We're a small business.

We're very lucky to be better off. DH able to WFH, so no longer have any commuting costs which were our biggest outgoing.

I appreciate our situation, and we are doing our best to help family and friends who are worse off.

I was shocked that my nursery are not charging while they are closed but if they don't reopen they are the only one my area which takes babies so I may not be able to work until I find a childminder with space.

Immediately we are ok as I have savings

But I am on maternity leave and things were already tight with DH’s wages and he’s now on 80% so making further cut backs

Only benefit right now is we can’t do much to spend anything although our food shop bill has increased considerably

Lost out on a holiday but that was just a low cost weekend break

pirateparker
Are you sure that you won't be allowed a Corona Virus mortgage holiday? Have you checked? It is different than the usual mortgage holiday a person might apply for. Screenshot from the Nationwide Corona Virus holiday help page. People can apply even with current arrears. We applied for this - very easy to apply for. Look into it for your rental and your residential mortgage if you have one.

Does your business have a retail space? If so you might be entitled to a grant.

Me, not at all. In fact I'm better off from not having commuting expenses. DS however has been furloughed.

Mixed. My work has been impacted. I am freelance. However we are making the most of the banking opportunities to stop payments for three months, consolidate debt and reduce loans.

Furloughed on 80%

DH on full salary for now, like previous poster saving on petrol and daily trips to JS.

We had just saved enough to clear the last of the kitchen and bathroom loan and were looking forward to spending that money on the house but for now holding that in reserve just in case.

I may or may not have a job at the end of this, it won't break the bank as long as DH keeps his job.

Essentially I'm better off. I'm able to work from home and the company I work for is deemed essential.

I'm saving the childcare cost (minimal cos I had childcare vouchers saved up), fuel, school dinners, work lunch costs, kids/my activities.

Long term I'm not sure. It'll probably have a (negative) impact on work and costs of various other things.

I'm not better off or worse off. Local government worker who is now working from home. DH a SAHD. I spent very little day to day and didn't buy lunch / coffee out etc so not saving there.