Money now nearly a year after COVID hit

[Candystriper29]

Have name changed for this as it’s a bit outing when linked to my other threads.
How has everyone managed financially since March? We are stuffed now. Our Italian restaurant business has folded, we are now on UC. All extras stopped Such a change from this time last year.

I was furloughed from March until August. Went back to work in August and we have been busier than ever so I'm OK financially, I've actually had to work more hours. I work in the furniture industry and my theory is that everyone is buying furniture instead they can't go on holiday!

My regular work stopped at the start of March when I had clients required to isolate. I wasn’t entitled to any government grants or loans.

I didn’t start working again until September (& had to buy equipment to work from home) and I’ve been earning a max of £100 a week compared with £300+ before. I’m now limited in hours because of childcare and home schooling.

Luckily dh has worked throughout at his normal work so we have had some income but his wages were lower than mine so we are meeting minimum payments on things but into overdraft/CC.

@Waxonwaxoff0

I was furloughed from March until August. Went back to work in August and we have been busier than ever so I'm OK financially, I've actually had to work more hours. I work in the furniture industry and my theory is that everyone is buying furniture instead they can't go on holiday!

I think people either have more money than ever as costs are down OR have even less and struggling for work.

DH's business hasn't made any money since about April last year and expects it to be at least another few months before he begins to make money again.
He's self-employed and not eligible for any help/benefits/furlough etc so we've been living off our emergency savings and my very part-time, sporadic income

DocMartens yes, it seems that way. Our customers are quite affluent and they don't seem to be suffering.

It really is turning into a K shaped recovery. Among my circle of friends either people are doing much better or much worse than this time last year.

I am trying really hard to support restaurants, ordering meal boxes and takeaways - we are probably spending £150 a week on these kinds of deliveries, on top of our normal weekly shop - but it's just a drop in the ocean I know

OnlyTea what does your DH do?

I'm trying to spread my income around so would love to know what sectors are being really hit apart from the obvious. V interesting about furniture sales being up, makes sense if people are doing their houses up.

My DH works in manufacturing - there is still demand for the product (books) but until Covid he worked for the European Group part of the business and spent his weekdays across France/Spain/Germany. Luckily they transferred him to the U.K. side of things but all management and directors took a 20% pay cut in the first lockdown (when most of the factory floor staff were furloughed while management could do some work from home). My work (freelance, dance teacher, event organiser) has all dried up and outgoings have slightly increased (higher utility bills from being home all day, cost of weekly shop has risen etc, plus one off costs relating to school as all the kids had elderly iPads that couldn’t run Teams).
We’re a little bit fucked really, but it’s a combo of Covid and Brexit, rather than all Covid.

Bought myself a (cheap!) spin bike for home as I’m desperately missing dance/cycling to work/gym classes and getting fat and inflexible. Feeling mildly guilty about spending the money but I know it’s justified for health and mental health reasons.

The only thing I’ve really saved on this year is on
haircuts (managed to get booked for 1 cut and colour in the whole of 2020) and shoe leather (as I spend all day in slippers or crocs 😩)

No change. Both of us have been working as normal. The only effect really has been our teenagers unable to get part time jobs as they possibly would have done under normal circumstances so we have to support them longer.
Some people I know seem to have 2 incomes now, one from being on furlough then doing a second job so are significantly better off ? I'm amazed this can happen but seems to be the case?

Saving cuz we’re not commuting and the 3 months nursery was closed. We both wfh for It companies. I’m busier than ever

So sorry OP, how heartbreaking, I really feel for all those that have lost their businesses due to COVID. Such a wide reaching impact.

No change got us. I’m on mat leave and DH working from home. We’ve saved money on petrol and not going out.

No change for us as we work in health care.

Our household income has gone from around 3k (but with a big mortgage) to 1k living with family. We are ok though and surviving. Hoping nothing breaks though!

I’m a specialist commercial cleaner. Work has gone through the roof. Technically, I’m contracted for 10 hours a week, but often do nearer 60+. We advertise for staff, but no one wants to do the job.

Sorry for all of you who are struggling.

We are doing ok, both WFH. DH is a freelancer but has had regular work. I'm saving a little bit of money from not commuting. I count myself as very, very lucky.

Dh was furloughed for several months. I was forced to pay for private major surgery due to a lot of pain resulting from a recent failed / botched surgery. The GP said this didn’t matter and I would have to wait in a very very long line. I’m too ill to work and struggle to live in our means. We do have investments, which is basically my pension and are fine.

Sorry to hear you’re so down on your luck.

Thankfully we're OK and I'm always greatful and appreciate how things could be different.
Dh was furloughed however
He also managed to find a bit of self employed work for another job he does and as he already had a utr so that worked out ok
We spent so little on the stuff we normally would. That we managed to clear nearly 10k in debt and be clear by Xmas. Now we're more aware and careful.
I've also started donating much much more to food banks, and items to womens aid etc as I see in here how much covid affected people. Where as before we couldn't

@OnlyTeaForMe

DH's business hasn't made any money since about April last year and expects it to be at least another few months before he begins to make money again. He's self-employed and not eligible for any help/benefits/furlough etc so we've been living off our emergency savings and my very part-time, sporadic income

Has he not been SE for long? Why could he not access the funding for self employed businesses ? They paid 70-80% of profits

Name changed.
As a household, we have done very nicely. DH's job is fairly recession proof, and I've managed to get a job. HOWEVER Dad's business of the past 40 years is about to sink. There is only so long they can keep spending to keep going with minimal income, and last minute changes to rules requiring binning of vast amounts of alcohol. The bank account is getting very low, and I suspect we will soon be support them.
I agree with the comment above. Some households are doing very nicely with extra cash floating around, and some households are really suffering. The pain has not been spread evenly.

to those struggling
I’m better off financially by quite a lot - both worked from home throughout but without my (significant) commuting costs. I’ve upped my charity donations though.

DH is busier than ever but has had to take a 20% pay cut to keep his job... hasn’t had a days annual leave since March, working 12 hour days for 80% of his normal pay.
I’ve had to drop my hours as I couldn’t cope with the homeschooling/looking after a toddler (his nursery went under in lockdown 1 and there was no other full time provision available in my area). So it’s going fairly badly financially.

No change for us, both of us still working. I actually had a change of job and a pay rise this year. It's harder with childcare now that school is closed but dh is off at the moment so he is doing homeschooling while I'm at work. When he goes back to work I will have to rope in my mother for babysitting (we are in a bubble) and/or work from home a few days a week.

No change. My secondary sources of income has dried up (tutoring, exam marking) but this is balanced by not paying for wraparound childcare and less commuting.

I feel very fortunate. No change in income for us but less to spend money on, so financially feel a bit better off. I feel for people who have lost jobs/businesses though, such rubbish times.