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Coping Financially

How would you/r family cope financially with quarantine or job loss over the next couple of months.

unemployment is said to double.


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Answers (13)

Im so sad for the bushfire victims and now this. So unfair

 ..... and the farmers recovering or still in drought. I think what we're experiencing now, has some similarities, being loss of income, continued expenses, shortage of stock feed or inability to feed stock, with no end in sight.
helpful (1) 
 My exact thoughts. The farmers have been suffering for so long. They were forgotten for the bushfires. Now the farmers and bushfire victims are being forgotten, this time for the virus
helpful (2) 

I’m a preschool teacher and got told if we close down we may or may not be paid. It depends on if they can “afford it” and what the management committee decided. Husband is a boilermaker and works in mines. We live pay to pay pretty much, with about a weeks worth of savings to fall back on. We’re going to be fu***d. I’d rather they sack us so I can at least apply for Newstart.....

 You need to start cutting extra expenses now. Find cheaper ways to do the things you are doing now. Cheaper food to cook, petrol spy app, cheaper insurance. Sell inused sporting equipment etc. Get in front of it.
helpful (1) 
 Look through this site. There is lots of very useful information here. They did a compilation of the best of the suggestions many mums had offered in response to questions about how to become more economical, or live more frugally.

This is an opportunity for us all to do a big reset.

helpful (2) 

I'd be absolutely screwed. Single mother - enough savings to get by for a few weeks at MOST but would be living very frugally.

Both hubby and I work for NSW Health so we are all but guaranteed ongoing employment so we will be financially fine, we both also have significant amounts of leave available to us if needed (in the case of sickness etc)
I feel for small businesses and the like though, this is likely to ruin a lot of them 😔

 Similar, hubby & I are both first responders...thankful to be employed by the government
helpful (0) 

My husband is the only worker in our house. His job is not something that can be done from home but also, it's possible he'd be seen as part of the essential services (note, I say POSSIBLY, and ESSENTIAL, not emergency). So we MIGHT manage okay if he kept his job and was allowed to work. If not, well, we're pretty fu***d. I'm only trained in retail and admin, but can hold my own in domestic roles (seamstress, cleaner, housekeeper, cook, etc). If someone needed a paid babysitter, I'd be right. But all those industries are flooded as is, and no money would be had there.
So, if hubby lost his job, we'd be homeless and destitute. Our savings are gone now.

Not sure. Depends if our tenants are able to pay rent...

We had our baby aged 36 last week
We established our life 15 years ago

 I'm not even sure what you mean
helpful (0) 
 She means they saved for years & set themselves up financially before having children. We did this too, almost exactly - although some slipped into the travel vortex!!
helpful (0) 

I just payed the house and have $200. Applying for jobs left, right and centre. So stressful. But I do have toilet paper. You have to laugh, right?!

 Hugs babe ❤
helpful (0) 

It would be a struggle with my husband the only worker and the new baby, but at least we own our house so don’t have that expense. If desperate, could rent out the room downstairs I suppose.

Thankfully we can both work from home. We have substantial savings too. This is unlikely to affect us financially which is a blessing

We'd be fine as thankfully we have funds from the sale of our investment property sitting in our mortgage redraw. Hubby is a public servant doing a work from home trial tomorrow (I think it might be the whole branch), so likely he could do that if quarantined.