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Coping Financially

Answered 2 years ago

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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ANSWER
2 years ago
I’ll be fine, wont lose my house, so that is obviously a MASSIVE weight of my shoulders, financially shld be ok, at the very least will be able to keep roof over our heads and food in our bellies (if any turns up at the shops!)

ANSWER
2 years ago
Not sure. Depends if our tenants are able to pay rent...

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REPLY
2 years ago
That's a big gamble

ANSWER
2 years ago
Quite well
Hubby has insurance for $1m

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REPLY
2 years ago
Planning on knocking him off?

ANSWER
2 years ago
If things get worse than it will affect us. We are both working but that could change you never know. We do have savings and we don’t spend like before because you can’t go anywhere.

ANSWER
2 years ago
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 😔

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REPLY
2 years ago
Similar, hubby & I are both first responders...thankful to be employed by the government

ANSWER
2 years ago
Im so sad for the bushfire victims and now this. So unfair

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2 years ago
..... 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.

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2 years ago
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

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

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REPLY
2 years ago
I'm not even sure what you mean

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2 years ago
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!!

ANSWER
2 years ago
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 fucked. I’d rather they sack us so I can at least apply for Newstart.....

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REPLY
2 years ago
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.

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2 years ago
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.

ANSWER
2 years ago
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?!

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REPLY
2 years ago
Hugs babe ❤

ANSWER
2 years ago
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.

ANSWER
2 years ago
We'll be fine

ANSWER
2 years ago
We'll be absolutely fucked.

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

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

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2 years ago
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.

ANSWER
2 years ago
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 fucked. 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.