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Have You Suffered Negative Financial Consequences Due to the Coronavirus Pandemic?

Have You Suffered Negative Financial Consequences Due to the Coronavirus Pandemic?

  • Yes, I have suffered negative financial consequences due to the coronavirus pandemic

    Votes: 35 47.9%

  • No, I have not suffered negative financial consequences due to the coronavirus pandemic

    Votes: 28 38.4%

  • I have not yet felt any financial effects, positive or negative

    Votes: 6 8.2%

  • Other

    Votes: 4 5.5%
  • Total voters
    73
Felis Leo

Felis Leo

Moral clarity is needed
DP Veteran
Joined
Mar 27, 2018
Messages
14,160
Reaction score
21,175
Location
California
Gender
Male
Political Leaning
Slightly Conservative
It seems we have walked over the threshold of an economic recession and may be heading towards an economic depression. While I am now back to work part-time because the Courts are still open and lawyers and legal representation are considered "essential services" (Yay), others here may not be so fortunate. For my own edification, I wanted to take the temperature of the room and see who has suffered negative financial consequences due to the coronavirus pandemic and the resulting near-total shutdown of our economy.

By "negative financial consequences" I mean you have you have lost your job, had to close your business, you had your work hours cut, you have incurred significant losses in business revenue, and/or you have incurred a significant increases in your regular monthly expenses.

For those who cannot read the poll, the choices are as follows:

1. Yes, I have suffered negative financial consequences due to the coronavirus pandemic
2. No, I have not suffered negative financial consequences due to the coronavirus pandemic
3. I have not yet felt any financial effects, positive or negative
4. Other
 
Significant financial losses.....
 
Yes, my job is on base pay stand-down and a possibility of redundancy. Not great now, could get worse.

On the plus side, I just bought shares dirt cheap in a company that will bounce back so I'll get something out of it in a few years.
 
My retirement funds have suffered.

The market has been bouncing up and down. There's a lot of uncertainty. I have faith that it will come back better than ever.
 
Yes, my self-employed handyman income has dropped by over 60%, but the $1,200 'recovery' cash that my girlfriend and I each expect to get will make up for that for a short while longer. I'm getting only emergency repair and some grass mowing jobs now. Fortunately, we can survive on our Social Security retirement incomes, but our plans to buy a new single-wide mobile home to live in are not likely to happen any time soon.
 
Didn’t answer. I have felt some impact, maybe 5-10%. But I’m fortunate that all my staff was able to work from home quickly, and it’s digital work.
 
This is the only positive thing from having a disability benefit, my income has not changed one iota.

Even my normal shopping has not changed that much, I just order it online and that is that. Most people have problems getting a delivery moment but because I have a delivery subscription (pay and x-amount of money per 6 months and then every delivery is free of charge) which gives me a fixed delivery moment every week. So where others had to look for a delivery option, I have that one in the bag (every Friday around noon is the delivery).

So no, no financial burden whatsoever.

But I normally do like bargains and the government is looking into a way to prevent the usual summer sale (usually after the payment of our vacation money and/or tax rebates). Normally that summer sale is beginning of June but the government wants to ban such summer sales until at least July 1st. Again to make sure we all keep social distancing.
 
My wife's lost her job, but my work's increased, and the socialist Australian government is throwing money at us anyway. We'll be fine.
 
Last edited:
Our renters made a partial rent payment on April 1st. (a little over half of what they owed.)

He said that unless some miracle happens, it's unlikely that he can pay anything on May 1st.

It's unfortunate because they have always paid their rent on time for nearly 7 years.
 
My wife's employer closed for business. She immediately enrolled as a full time student in a local college online program.

With higher than normal cash balances on hand, we opted to pay off our 1st mortgage April 1st.

We hold a private first (interest only) mortgage on my wife's sister's home. Besides interest, we collect monies for the home owner's insurance and property taxes. Without any nudging, my sister-in-law paid as agreed.

We took a not-to-alarming hit on our retirement funds, something I worry very little if at all about.

We exercise every day. Eat well every day. I used up our Cottonelle toilet paper. I prefer a different brand of toilet paper than the Angel
Soft we used this past week. My wife mentioned something about tapping into our Charmin stockpile today.

I voted "Other" in the poll.
 
I'm about to graduate from law school, and my wife is a nurse in an urban hospital.

So our financial situation has not been particularly affected - if anything, it has been positive, since my wife has been able to pick up extra shifts, and we are spending much less money.

On the other hand, COVID 19 has negatively affected by ability to find a job for after law school - many firms are waiting on hiring decisions until theres a decision regarding whether the Bar exam will take place in July.
 
Felis Leo said:
By "negative financial consequences" I mean you have you have lost your job, had to close your business, you had your work hours cut, you have incurred significant losses in business revenue, and/or you have incurred a significant increases in your regular monthly expenses.



1. Yes, I have suffered negative financial consequences due to the coronavirus pandemic
Click to expand...

Yes.
Although my eyesight and hearing are failing, I am still able to EDIT film, and of my thirteen regular clients, ten have canceled upcoming ad spots, interviews, and the like for the foreseeable future.

One bright spot, I am entertaining a couple of offers on my hallmark Leon Russell concert film.
One is a possible broadcast opportunity, so if you're a fan of The Master of Space and Time, you might just see my show soon on a popular cable channel if things work out.

Fingers crossed and hoping it comes to pass, that will be quite lucrative.
 
Felis Leo said:
It seems we have walked over the threshold of an economic recession and may be heading towards an economic depression. While I am now back to work part-time because the Courts are still open and lawyers and legal representation are considered "essential services" (Yay), others here may not be so fortunate. For my own edification, I wanted to take the temperature of the room and see who has suffered negative financial consequences due to the coronavirus pandemic and the resulting near-total shutdown of our economy.

By "negative financial consequences" I mean you have you have lost your job, had to close your business, you had your work hours cut, you have incurred significant losses in business revenue, and/or you have incurred a significant increases in your regular monthly expenses.

For those who cannot read the poll, the choices are as follows:

1. Yes, I have suffered negative financial consequences due to the coronavirus pandemic
2. No, I have not suffered negative financial consequences due to the coronavirus pandemic
3. I have not yet felt any financial effects, positive or negative
4. Other
Click to expand...

I am rather annoyed I can't go in the bank lobby so I have several deposits I haven't made yet I otherwise would have. Drive thru lines are too long when I go so I am like screw it. Other than that, nope.
 
It's actually been a positive for me. Some projects put on hold but that actually allowed me help a few friends who have lost income. I'm saving money by no outside activities that normally take place.
 
spud_meister said:
My wife's lost her job, but my work's increased, and the socialist Australian government is throwing money at us anyway. We'll be fine.
Click to expand...

Everyone is throwing vast amounts of money at the problem but Sco Mo? Socialist?

Compared to Trump sure, but he’s more unabashedly socialist if you’re a giant mining conglomerate.
 
spud_meister said:
My wife's lost her job, but my work's increased, and the socialist Australian government is throwing money at us anyway. We'll be fine.
Click to expand...

Last time I checked Labor was in the opposition, not in power. But I am really hyped up for next week, the best thing from Australia is starting again, Masterchef Australia, far superior than Masterchef USA.
 
Our retirement accounts are down in the six figures :doh and I got furloughed from my job, but I try to look at the bright side. At the time of the market "crash," I had about one-third of our financial wealth in cash and have been putting money to work as the markets dropped. I can sleep in every morning, and I have plenty of time now to get things done around the house that I've put off, in some cases for years. Worst-case scenario, I go on Social Security in eight months. My wife is already retired.
 
ttwtt78640 said:
I'm sorry. That has to suck.
Click to expand...

Felis Leo said:
I'm sorry, Jetboogieman. That is rough.
Click to expand...

All good fellas, taking it a day at a time and being happy with what we have, we’re probably a little more fortunate than most and made some good decisions prior to this, so hopefully it’ll carry the day.
 
Trippy Trekker said:
My wife's employer closed for business. She immediately enrolled as a full time student in a local college online program.

With higher than normal cash balances on hand, we opted to pay off our 1st mortgage April 1st.

We hold a private first (interest only) mortgage on my wife's sister's home. Besides interest, we collect monies for the home owner's insurance and property taxes. Without any nudging, my sister-in-law paid as agreed.

We took a not-to-alarming hit on our retirement funds, something I worry very little if at all about.

We exercise every day. Eat well every day. I used up our Cottonelle toilet paper. I prefer a different brand of toilet paper than the Angel
Soft we used this past week. My wife mentioned something about tapping into our Charmin stockpile today.

I voted "Other" in the poll.
Click to expand...

Cottonelle is nice.
 
Jetboogieman said:
All good fellas, taking it a day at a time and being happy with what we have, we’re probably a little more fortunate than most and made some good decisions prior to this, so hopefully it’ll carry the day.
Click to expand...

I hope so, but as Trump says so often - We'll just have to wait and see what happens.
 
I am an ICU nurse, so I can get whatever shifts I want.

I am working as little as I can because of the outbreak because I am trying not to get run down, and flare up I am nearly 60 and have asthma.

Day to day, financially I am fine. But I did make the mistake of looking at my 401k:lamo. But it will bounce back.
 
I've not been negatively impacted by the corona virus pandemic regarding my career -- just from an investment perspective. The corporation where I work has transitioned a large majority of its workforce to a work from home scenario, so I've enjoyed a few extra minutes of sleep in the morning and no commute time. My wife works for the same organization and schools are virtual, so the entire family has been home the last 3 weeks. The bonus is, I'm spending significantly less on expenses since we're eating at home, kids expenses for tuition, cleaning and I've had the same tank of fuel for over 3 weeks now.
 
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