Furlough - taking the 80% salary

[LeveretWalks]

I’ve tried hard to word this without sounding crass, or like it’s just one big stealth boast, so I’m sorry if it comes across badly.

I’ve been furloughed on 80% pay. I work part time (20 hours a week) for a very small business - my salary is quite good although as it’s pro rata I’m
a long way from being paid £50k.

The issue is that we really don’t need this money. I work to use my skills and because I feel that I should, but I was a SAHM for years, and we were fine financially. We have a really comfortable lifestyle - a nice home, a foreign holiday most years, some weekends away, never needed to say no to kids’ activities or be careful with money on a day to day basis. We’re far from super rich (I don’t think, eg, that we could afford private school for 3 children), but we’re doing well, and we have savings. DH’s job should be secure.

Obviously the 80% isn’t means tested and was rushed through to protect jobs and support those who would (and still may) really be struggling now.

I can’t shake the feeling that it wasn’t meant for me. I think my choices are:

1. Take it, it’s there to protect businesses;

1. Don’t take it and ask my employer to put me on unpaid leave (I am her only employer in this situation so it doesn’t set a difficult precedent);

1. Take it, put it aside, and if we come through this financially unscathed donate the lot to an appropriate charity (I’m conscious that the third sector will take a big hit).

I’m erring towards 3. Thoughts and analysis welcome. DH thinks I’m over thinking this and that it’s a drop in the ocean in the scale of this, but he comes from a wealthy background, whereas I grew up in quite modest circumstances and I think it’s just all a bit closer to home for me. If it’s relevant I’m not confident of having a job to go back to if this goes on for months.

I think it’s very nice of you to be thinking like this and it’s actually brightened my day but I think do 3 as you sound very socially conscious but only give what you can ( maybe 50 percent) and save some

As you are the company’s only employee I would ask to go on unpaid leave and save my boss the stress and hassle of having to claim the money to pay me.
The charity option is reasonable too.

Thank you. I’m not the only employee (small number of others) but due to our roles and contracts I’m the only one ever likely to be furloughed.
I think I’m leaning towards charity though. Maybe a small, local charity - grassroots fundraising will really be hit. Or possibly the Foodbank.
It would be good to use this for something positive.

That’s really thoughtful and generous, I would go for option three. And your post in no way comes across as a stealth boast.

I would take it and use it to support local businesses, which might be more expensive at this time. Things like;

• local butchers/ bakers/ candlestick makers who are doing home deliveries
• continuing to pay cleaner/ ironing/ window cleaner/ dog walker/ gardener who might not be working but could probably do with being paid
• donating to local charity whose shop/ service you would have otherwise used.
• supporting local foodbank (as I reckon they will be experiencing the same demand with fewer donations)
• local dog/ cat rescue (ours are asking for money to buy food as they aren't seeing as many people turn up with donations)

Good suggestions - thanks. We’re paying everyone we’d otherwise have paid anyway, but I like the supporting local businesses / food bank / pet rescue a lot

3.you sound lovely ❤️

Option 3 for sure!

None of us, no matter how secure our jobs are right now can say that this won't affect us. The knock on effect on a range of industries will be huge for a long time yet. So you might not need it now but you may need it in the future x

Take it and spend locally.

Take it and spend, the economy needs it and you will be helping a lot of people out right now who desperately need it, love the suggestion up thread

Do exactly @ClaudiaWankleman said .
Some for you some for local businesses etc who need it

It’s a good mechanism to give to those who find it harder to claim support etc

Also please consider your employer should claim in order that they are “ in the system “

This is early days for this situation ...things may change a lot and it will be easier for them to claim more support or whatever if they are already set up.

I’ve paid my window cleaner and my hairdresser equivalent to 6 months fees they would normally get from me and called it “ sick pay”
I’m currently being paid and so feel I should pay them .
It’s not much but I feel like I’m doing something.. a little small but still .

Also making some meals and delivering groceries to the elderly .. again not much but a little effort

Take care all

Sorry OP .. I see you are still paying your local bills etc ... you do sound lovely 💖

I would go with option 3 as well - keep the money to one side just in case anything should happen to your DH's job. If it turns out you don't need it - great. But there are no certainties right now.

Thank you, all good advice (I’m really not that nice - I just find myself living the sort of life I dreamed of as a child, and I can’t reconcile that with taking more that we need right now when other people haven’t been this lucky).

I think it’s really noble that you want to donate the money, but I would caution you on acting quickly - there are no guarantees that jobs are secure after this scheme is over, and you should make sure you’ve got enough in savings to weather any unemployment you may face in the future.

I found a post on it that might be useful on yourmoneyexplained.co.uk - hope it helps!