How You're Handling Finances During This Time

[Anonymous]

I'm very fortunate I still have my job. I was always a homebody so nothing has changed much except I'm getting gas every 1.5-2 weeks now and my daughter is being home schooled for the rest of the school year, and man can a teenager eat!! I guess the savings from not having to get gas every week is being spent on extra groceries because she's home all day. I really should lock up the fridge! j/k. 

Although I did have two splurges this past weekend but I find them necessary. I went and got a new lawn mower because the one I had was over 20 yrs old and just wouldn't start. While I was at it, I bought a new leaf blower/vaccuum too. They're both red and so pretty! Great exercise too! 

Haven't received my stimulus yet. But once received, it's going towards bills so that I can breathe easily for the upcoming months. No major purchases in the future.

[AverageJoesCredit]

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@iced wrote:

Spend-wise, my monthly's a little less because I'm not buying plane tickets and Lyft rides at present, but still dining out a ton (just via takeout/delivery) and with the 5x offer on Doordash by Chase I'm making up for no airfare purchases that way. Going to hit the $500 cap on CSR this weekend, and just got a FU that I'll put the next $500 worth of DoorDash on.

Investment-wise, I've been more active than usual. Between personal brokerage, HSA, and Roth 401k I've bought somewhere around $35,000 worth of stocks since late March when the big dip (so far) hit and glad I did - I'm already up around 15% just from that round, though I also bought about $25,000 in January/Feb that since tanked. I'm now getting prepped for the next dip. Goes without saying I'm selling nothing and this is all for the long-haul (and passive income via dividends). Perhaps the best outcome is my ESPP purchase period started after the pandemic hit, so I'm locked in at a bargain for the next year. I'm already looking at over a $100/share discount for the next year. That's going to be a major gain in about 5 years.

It's a bit uncouth to be dancing at a funeral, but truth be told this pandemic is doing me serious favors.

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Must be nice.

[M_Smart007]

Other than not eating out .. Gas spend way down.

Dollar cost averaging more shares..

Bought quite a few ounces of Gold.

Not much has really changed here.

Live on 20 acres so plenty to do

[M_Smart007]

Hang in there @AverageJoesCredit !

[DaveInAZ]

Well, I'm thinking if there is ever a good time to be old this is it!

Semi retired in my late 60s, retirement Social Security and a part time job with the local county that's deemed essential and working my normal 3 days/20 hrs. a week. I could get by without the PT job but I really enjoy it and plan to keep working a few more years, I think I'd be bored not working PT.

I had some really good credit card BT offers and actually took on around $25k in debt, just feels good to have extra available cash if things get really rough. And I do bank account bonuses, the extra cash will be useful in doing savings account bonuses that require $10-25k in deposits for 3 months or more. I made over an extra $1500 last year just from bank account bonuses. And I figure the balances with large payments will help assure creditors no financial problems here.

[M_Smart007]

@DaveInAZ..Well Done

[Adkins]

I haven't touched my IRA, 401K, 403B and a second account at the new job I can't remember. I'm trying to remember I'm in it for the long haul. I've gotten serious about shedding any credit card balances, so I'm working on them right now. I've also cut a few miscellaneous expenses I can live without. I'm already gardening and not planning on opening any new accounts. My derogs aren't going away any time soon but I'm considering extra payments to my student loans while they are at 0% interest.

[Mv350]

I've moved all of my debt to one place, including paying my car insurance for the year with it. That way if something happens I will only have one minimum payment to make and not a bunch. Car payment is @ 0% so no use in trying to pay it down, and deplete extra cash than necessary. Rent, phone, utilities, and now eating at home more. Thank goodness my fiance and I, have a roommate and we are all considered "essential" we all work in the same field. So it has mainly been preparing for the worst. I tried for a PLOC and a small personal loan, but my app spree cut that down to credit seeking behavior. 

I'll try and lay low for a while. Key word is try. 

[Anonymous]

I'm enjoying working from home, saves over an hour a day worth of commuting time and between not putting gas in the car and not eating lunches out, I'm saving a few bucks.  Picked up 8 hours a week of OT out of sheer boredom and my bride is picking up shifts as well...nowhere else to be, might as well work.

Paid off most CCs except a couple that have 0% or really low interest "special financing".   Got a low rate personal loan from PNC to pay for the pool resurfacing at our house in FL, it's set for 60 months but we'll accelerate payments.  

Increased my 401k contributions and HSA contributions by 1%, now I am maxed out on 401k and close to maxed out on HSA.  Aside from getting cabin fever from not going anywhere but Kroger occasionally, all is well.

[MakingProgress]

Really no difference for me.   I opened an CC for myself, and 2 for DW to get some zero % offers to move some balances from a 0% that is scheduled to end.   This was planned before the current situation so isn't really a reaction to changes in the economy.

Otherwise DD and I are essential, DW is working form home so our income is stable.    I did just notice today that the normal $200+ a month I spend on gas is now about $50, and we aren't really spending anything outside of groceries, and takeout (which is less than normal dining out expenses)  so I am ending up with some extra cash at the end of the  month.  I will probably put the extra on the 0% deals to keep paying them down. 

I am not touching investments right now and am just riding this out.