How You're Handling Finances During This Time

[ChargedUp]

Still sitting on cash over here, but it's looking like I'll be able to take a skeleton crew back to work on 5/4 to finish off a project that has about 6 weeks left of it. I'm hoping things at least begin opening here in CA by the end of that 6 weeks. So far I've managed to keep card balances pretty low and once things do start opening up I'll begin dumping the cash to PIF everyone. I haven't asked for any special treatment from my lenders, as I'd rather pay a little interest for a couple months versus making them nervous and appearing more of a liability. (Nothing against those who have had to make these types of arangements, but I just don't feel like I'm at the point of it being prudent.)

At the same time, I've been trying to shop small as much as possible. In the process I've found some amazing restaurants around town!

The JG Wentworth types are in full force trying to get me to sell my annuity payments...  Ummm NO!

[Brian_Earl_Spilner]

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@ChargedUp wrote:

Still sitting on cash over here, but it's looking like I'll be able to take a skeleton crew back to work on 5/4 to finish off a project that has about 6 weeks left of it. I'm hoping things at least begin opening here in CA by the end of that 6 weeks. So far I've managed to keep card balances pretty low and once things do start opening up I'll begin dumping the cash to PIF everyone. I haven't asked for any special treatment from my lenders, as I'd rather pay a little interest for a couple months versus making them nervous and appearing more of a liability. (Nothing against those who have had to make these types of arangements, but I just don't feel like I'm at the point of it being prudent.)

At the same time, I've been trying to shop small as much as possible. In the process I've found some amazing restaurants around town!

The JG Wentworth types are in full force trying to get me to sell my annuity payments...  Ummm NO!

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But, it's your money, and you need it now!

[CreditInspired]

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@CBrow wrote:

There really hasn't been a change. Investments have stayed the same. I'm young, so I have a lot of time on my side for fluctuations in the market.  Bonus payouts happened already, but those will be affected next year.

My biggest concern has been helping out the small businesses around me that have been affected most. I made it a mission that my stimulus check went 100% to people I know who need it, along with parts of my bonus (I did make sure to stash some in my emergency fund). Otherwise, still paying rent, my car loan, and having life go on as normal. Although it has been a blessing in disguise that my spending habits have gone to basically zero

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You inspire me. 

[CreditInspired]

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@Anonymous wrote:

Not much has changed. I paid off my DCU card early just to get rid of the 30% utilization but that was only $300. Everything else is still being paid as scheduled. I owe Citi 4 more payments (0% doesn't expire until December) and Capital One 3 more payments (0% expires in October) before I am back to PIF so I am just sticking with that schedule. Spending a bit more on dry storage items. My grocery budget will probably double with my plans to turn my second closet into a pantry. I don't want to be caught unprepared again. 

Took my stimulus today and put $600 to max out DCU's $1K at 6.17%, put $100 in AOD, $100 in Langley, $300 in Alliant, and left $100 in 1stBank for now. If US Bank ever gets my name fixed the last $100 is going in there. Going to put $400 in my savings accounts next month to cap my $2K limit. Since Medicaid eligibility won't be impacted by the stimulus payments for a year, I feel safe putting $2K in the bank while the limit should be $3200. 

Everything else is the same since I already had been spending my life in my room long before this happened. 

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YOU GOT YOUR STIMULUS!!

Kudos @Anonymous . I'm still waiting. Well at least this tells me that for SS ppl who havent received it yet, it's right around the corner. Was it DD?

[CreditInspired]

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@M_Smart007 wrote:

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

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Now, I'm some kind of serious jealous. Is it waterfront, farming, gardening? Or are you out in horse country? This just sounds awesome!!!!!

[CreditInspired]

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@DaveInAZ wrote:

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.

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Kudos to you DaveInAZ. 

I'm kind of in the same boat--absent having the $10-25K--and it feels pretty good. 

[CreditInspired]

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@Anonymous wrote:

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.

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Yes, you dont really comprehend this until you experience it. I have cut 3 hrs from my daily commute and all I keep saying to my family and friends is how wonderful my quality of life is now.

I wish I never had to go back into an office again! 

[Revelate]

Honestly nothing for me has really changed: I started this mortgage route before COVID struck hard and so I've been cleaning some stuff up and pooling cash for the last few months.  I haven't made the payments quite as quickly as I have in the past, I'm MUCH more likely now to wait until just before the due date before cutting the check, but I haven't paid any interest on the credit cards yet.

I didn't sell anything, actually if I had more cash reserves I would've gone in a couple days after the big drop, wouldn't have quite been optimal but it would've been good.  If anything this experience has taught me to invest a little differently, but I have zero intention of paying MORE tax this year than I already am, and I've got time and don't need the cash at least so far.

Credit wise I've also been in a holding pattern trying to manage this new construction mortgage which is really dragging... and now looking like the lender might miss by 1 F'n day and I'm going to be ANGRY with them if so.  You had 1 job and 2 complete months to do this since you got all my documents, how dare you miss this.  Seriously my entire financial life is ready to go again come 4/30, don't screw up the closing.

Once I close though, probably 2-3 credit applications which I will be moving quickly on as soon as funding happens.

[redpat]

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@CreditInspired wrote:

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@Anonymous wrote:

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.

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Yes, you dont really comprehend this until you experience it. I have cut 3 hrs from my daily commute and all I keep saying to my family and friends is how wonderful my quality of life is now.

I wish I never had to go back into an office again! 

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I'm in the office today.  I hate working at home, tried it and it didn't last long.  I have always enjoyed the separation of work and home, round trip commute for me is about an hour and a half.  My office has a 55" tv, full cable, netflix, couch, we have a full kitchen and beer in the fridge. 

Watching Ozark season three while working.

You can have a quality of life everywhere.

[EAJuggalo]

I have two relatively small children so the wife and I are saving $1100/ month in child care expenses.  Dining out costs are way down, random store purchases are way down, fuel costs went from $50/week to $17/month.  I just transitioned to a new job that is working from home for the time being, wife is working from home.  I got a 7% cut in hours for the next six months but that about evens out with not going out for lunch and not having to drive to the office.  Overall I don't think our checking account has ever had this much money in it.