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Original poster

How has the COVID19 affected you financially?

109 replies

DreamChaser23 · 13/05/2020 21:16

Are you able to pay all your bills/mortgage/rent?

Do you think you will have a job come November?

OP posts:
PicsInRed · 14/05/2020 08:03

I'm working fulltime, not eligible for furlough. Hoping but not really expecting to keep my job for the rest of the year. Structuring finances in preparation for unemployment.

Dontknowhowtohelp1 · 14/05/2020 08:03

@Dontknowhowtohelp1 not sure if you were temping through an agency, but if you were temping through an agency at the time of lockdown they can furlough you, as long as you were on their books on or before 19th March. This is what's happened to me.

Thank you @WhiteChocTwix - I am on two agencies’ books - one has given me a very small amount of furlough as I hadn’t done enough work for them to get more (I get something like £20 a week), and the other hasn’t given me anything on the basis that they could have carried on finding work for me I think.

Parky04 · 14/05/2020 08:04

DW was on 80% furlough but went back to work on Monday. I have been working from home on full pay but my firm will be making significant redundancies as we rely upon the public transport industry.

OneRingToRuleThemAll · 14/05/2020 08:09

We are better off. ExH has got a promotion last week and increased child support. We had child tax credit because DD is disabled and that has gone up by £20/week for a year. And I work in the public sector so doing the same job from home.

FutureDays · 14/05/2020 08:10

I've been furloughed on 80% to stop my company going under and my husband is being made redundant, worrying how we will pay our bills, we've had to cancel the kids childcare because we can't afford it, it's going to make it harder for him to find a job as he'll need to look after kids when I'm back at work.

Curlyshabtree · 14/05/2020 08:13

Made redundant 20 March. Three weeks before my two years service so they didn’t have to pay me redundancy and no option of furlough.
I have a mortgage holiday. Still have just about enough to cover bills. DH self employed and still has bits of work. I have been locked down at my mums as my dad was terminally ill. He died three weeks ago. Hardly spent any money since being here but shed a lot of tears.

dibble15 · 14/05/2020 08:19

We are ok for the moment but DH is unlikely to get a bonus, pay rise. If I keep my job pay freeze likely. I'm trying to not spend as I'm worried what will happen in 3 months time plus expect taxes to go up & life to get more expensive.

coginamachine · 14/05/2020 08:19

DH is self employed been working on a long term contract that was stopped Mid March and hasn't worked since with nothing on the horizon. He has lost approx 90% of his income. My job just covers our mortgage but I work in the voluntary sector and and the charity is at risk of closing! Hugely uncertain times for us.

WisteriaHysteria · 14/05/2020 08:21

Much better off at the moment. DH and I are both working FT from home and spending relatively little - no travel costs, no socialising etc. Although DH has less work than me so is bored sometimes and spends quite a lot of time on Amazon Hmm. And we're spending quite a lot of food and wine.

However my company has hinted that they may make 'voluntary' (haha yeah right) salary cuts for some staff in the months to come so I'm trying to save a buffer in case that means me.

CeeJay81 · 14/05/2020 08:22

Our income hasn't changed because I'm a key worker(supermarket) and hubby is on pip due to health. we get a tiny bit of extra tax credits for a year, so we are like £12 a week better off.

Food bills higher and been buying extra bits for the kids to entertain them, but no going out for treats, swimming lessons, days out etc. So we are able to save a bit more than usual. We are fortunate and feel for so many in these uncertain times.

Spamellahamella · 14/05/2020 08:23

Both off furloughed. Fine for now, managing nicely on 80% salaries as no other expenses. Future very uncertain.

lostlalaloopsy · 14/05/2020 08:23

We have been really lucky. I was furloughed about 2 weeks ago after home working for a while, but my employer is paying the extra 20% so I still get my full wage. And my Dh is still working, he works in a medical equipment place and is doing lots of overtime to cover the people off sick.

I really feel for everyone who is struggling, it is such surreal and scary time.

Iwanttostayhappy · 14/05/2020 08:27

We are fortunate to be better off, DP is retired and I am still working from home. Saving fuel costs, no pub visits, no unnecessary spending (nothing open), making the most of saving as never know when things will change.

Kljnmw3459 · 14/05/2020 08:28

No impact to our finances, though dh is unable to trade now and not eligible for support. I do fear for my job in the near future so we're trying to save as much as possible.

crosser62 · 14/05/2020 08:30

So sorry to those experiencing hardship, financial and job losses, sorry to you all.
I’m front line nhs so unlucky for that but from a financial perspective I’m working double my hours so averaging 60 hours every week so pay has increased, working all those hours I can’t spend any of it so bills are covered and what’s left over is in savings maybe for a family holiday in a couple of years.
Dh has 2 jobs both of which are worked from home.

We are very very grateful and thankful for this.

BlueGreenYellowRed · 14/05/2020 08:31

We're better off as we're saving £600 a month on commuting and £800 a month on childcare. Plus also all the money we're saving by not eating out etc.

Bollss · 14/05/2020 08:34

I've been furloughed but not having to pay nursery fees for the moment so just about breaking even on that front but DP has lost his regular over time for probably a few months so that has made somewhat of a dent. His job will be safe (yay!) Mine hopefully will not I'm not certain. I have been looking for other jobs just in case.

Ohffs66 · 14/05/2020 08:34

DH is s/e had no work since Feb. Because of the industry he's in unlikely he will work again until the back end of this year or next, we reckon. So we were down to just my salary...bit of a struggle but we were doing ok. This week my employer announced a 20% pay cut...all of a sudden we have zero left after all the bills are paid and nowhere else we can make cuts as we already did what we could at the start of this. So we'll be taking a mortgage holiday, and a car loan holiday and using some savings. I really never ever thought we'd be in this position, I know a lot of people will be worse off than us but I've been so upset this week. I'm absolutely terrified I'll be made redundant as we will be totally screwed if that happens.

DivGirl · 14/05/2020 08:35

I'm one of the fortunate few who is substantially better off. Due to extortionate childcare costs I usually struggle to break even, but with nursery closed and no commuting costs I am saving money for the first time.

Not a huge amount, but enough now that I'm not overly concerned about suddenly being made redundant.

CoronaIsComing · 14/05/2020 08:38

We’re doing better TBH as some of DH’s income is commission based and all of his team are smashing their targets from home so he’ll get full bonus. He’s worked damn hard for it though, his industry is busier than its ever been. I’m a public sector worker so just the same as usual but WFH.

We’ve saved a small fortune in petrol, lunches and leisure activities.

Hoping we’ll still be in the same position in November!

Mimishimi · 14/05/2020 08:40

I've lost about £5000 worth of work so far and doesn't look like there will be much hair and makeup work the next few months.

JoeExoticsTiger · 14/05/2020 08:42

Myself and DH both work in the travel industry, the worst industry you could possibly work in at the moment!

I’m furloughed on 80%, job is not looking very secure. I have an interview at a supermarket on Monday, so fingers crossed I get that and that will take the pressure off a bit and bring some more money in.

DH is still working but has taken a 10% paycut, his job is looking more secure than mine.

Financially we’re ok, I’m saving a lot in petrol and ad-hoc spends such as work lunches and coffee! But we have a large mortgage to cover.

We have an emergency fund, but also lots of plans to diversify income (through property & stocks and shares) I think Coronavirus has taught us that we can’t rely on our employers to fund our lifestyle and we need to be more self sufficient. So are really trying to build up our cash reserves to fund this.

We also have plans to rent out one of our bedrooms (Under the rent a room scheme) to help boost our investments.

I really feel for and can empathise with people who are really struggling right now.

MeganBacon · 14/05/2020 08:48

I'm better off to the tune of petrol money to drive dis around, my commuting costs, cleaners, school fees cut by 15%, no gym, no eating out, no haircuts, gardener, tutors, facials, manicures, no random lattes. I've got plans for some home improvements though so it will all be re-circulated into the economy before Christmas.

unlimiteddilutingjuice · 14/05/2020 08:50

We're doing well. Thanks for asking!

Me and DH are both wfh in securish jobs.
Saving money left right and centre on things we don't need or can't have anymore.

I'm giving the cost of my commute to the food bank each month

LostJobtoday · 14/05/2020 08:55

I hope that for those who are doing well it continues

I would have posted the same this time yesterday. And now look.

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