General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHow has your money flow changed since the stay at home situation?
I'm wondering if there is pent up money from those who didn't lose their jobs that will send the economy up immediately when businesses reopen
42 votes, 1 pass | Time left: Unlimited | |
same income but spending less money | |
25 (60%) |
|
same income and spending the same amount of money but distributed differently than before shutdown | |
3 (7%) |
|
same income and spending more money | |
3 (7%) |
|
shutdown means less money coming in for me | |
4 (10%) |
|
other | |
7 (17%) |
|
1 DU member did not wish to select any of the options provided. | |
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Disclaimer: This is an Internet poll |
The Velveteen Ocelot
(115,732 posts)I do have to spend more at one time ordering food and other deliveries, and of course there are fees for that, but overall I'm spending somewhat less.
Demovictory9
(32,457 posts)when at home all day with a fridge full of groceries. I ordered a few times then slacked off.
marlakay
(11,473 posts)From a mexican restaurant and pizza place then havent since. We have more money because no trips out of state to visit kids and going out including wine tasting and buying bottles we love that.
Demovictory9
(32,457 posts)no way in heck am I traveling in 2020.
marlakay
(11,473 posts)So I have that, I went alone, I had first cruise planned to Mediterranean this fall so excited for our 20th anniversary. Canceled when I saw what was happening in Italy as most stops there.
The only thing I havent canceled is airbnb cabin in woods not far 30 min drive from ocean in August. Thought i could bring cleaner with me even though they clean, I am still not sure.
unblock
(52,252 posts)This one will be extremely uneven.
Amazon is doing great but dine-in restaurants are mostly closed entirely. It's unusual in a recession for so many businesses to be shuttered instantly.
The recovery is harder to predict because it depends on how households get through. Though who are lucky enough to keep their income will have pent-up demand, but everyone else will still be getting their finances in order.
Plus, even those with pent-up demand might not be so eager to quickly return to crowded places....
Demovictory9
(32,457 posts)fast food.
unblock
(52,252 posts)a kennedy
(29,672 posts)Demovictory9
(32,457 posts)a kennedy
(29,672 posts)weve just saved a lot being more at home.
J_William_Ryan
(1,753 posts)Food bill is up a bit because groceries are getting delivered.
Electric bill will likely be up a bit because Im home all the time.
Gasoline expense is down because Im hardly driving.
rgbecker
(4,831 posts)If, indeed, we get a $1200 check, I'll actually have an increase in my income...near term. I'm dependent on income from dividends and interest from retirement savings and these will likely be cut as the businesses lose revenue because of the shut down. My biggest expenses are RE taxes, insurance and utilities and I don't expect any of them to adjust downwards. So we'll see. As I said: Thank God for Social Security.
Demovictory9
(32,457 posts)not a lot but something
eleny
(46,166 posts)I can't shop manager specials and closeouts or get good ideas for meals based on sales. We do shop online for best deals on non-food items. But groceries are definitely costing us more right now.
Demovictory9
(32,457 posts)SMC22307
(8,090 posts)Spending practically nothing, but did cave yesterday and bought a big area rug for the screened porch. Felt kinda guilty...
Demovictory9
(32,457 posts)SMC22307
(8,090 posts)batten down the hatches in the event of a furlough or layoff, but so far, so good (THANK GOD).
Demovictory9
(32,457 posts)SMC22307
(8,090 posts)But, yeah, it's helping someone along the line.
EarthFirst
(2,900 posts)Everything else goes into savings.
We are playing the long game in the event that a second or third wave of COVID creates a need for a second; more restrictive shutdown.
We probably wont adjust this spending lifestyle until well into the third or fourth quarter.
Even if we can restart the economy. Theres some major damage done that isnt going to rebound as quickly as many economists are predicting.
I feel a lot of Americans are going to adjust their spending habits after this.
I believe that a new savings economy is ahead of us for better or worse; depending on who you ask.
MerryBlooms
(11,770 posts)then I found more work, but not in time before I fell behind. When I talk to my credit card company, they don't give a shit. All they want is money, which I get, but I've been with them for 25 years- same account, doesn't matter... I used to pay it off every month, but my situation changed. Then this corona shit hit. It's like talking to a brick wall. The record every conversation, when I talk to them tomorrow, I'm going to let them know they're acting like a loan shark and they full know by the time I pay them I have $50 to live on for the rest of the month, then ask them what's next if I don't have the funds and have to stagger my payment and am late? Are they coming to break my legs? My PTSD is through the roof and on Monday, I'm going to have my doctor increase my anti seizure meds. These cc companies aren't in dire straights like we are, but they sure as hell are acting like it.
Demovictory9
(32,457 posts)if you are not willing/able to pay more, no point in the conversation. It will just stress you out. your long history with them means nothing. that's just how it is.
MerryBlooms
(11,770 posts)MissB
(15,810 posts)I filled my gas tank right before we were told to work from home. I generally use a tank every two weeks; its been a month and Ive used a bit more than a quarter tank.
This week weve moved fully to delivery or curbside pickup for everything. I was hitting the grocery store about every 10 days in average.
Ive started a list of things Id like to do once everything opens up. None of it is critical- all wants not needs- but I want to be certain about what we spend our $ on.
I am having a car serviced this week. They pick up and deliver. I dont need a loaner car, and when they return it, itll sit there for a few days anyway.
Ive scheduled a roof/gutter cleaning for a few weeks out.
Other than that, just grocery spending. Im carrying a car loan that will be paid off in two months. Or Ill hold it a bit longer and beef up savings more. Either way, we just arent spending much and we are both still working full time (telecommuting).
Usually this time of year Id be looking at the nursery to add some plants to my yard. This year Im concentrating on my veggie garden.
Poiuyt
(18,125 posts)We've taken a pretty big hit in our stock portfolio, so I want to minimize any spending until things go back up.
Midnight Writer
(21,768 posts)Can live modestly on my pension unless an emergency comes up.
LeftInTX
(25,368 posts)Not good.
It will improve. Wish I had some $$$$ to invest now. As they say, "Buy low".
Tink41
(537 posts)Out of work. Increased income, spending locked down. The situation wont last long but I'm enjoying it. I'm a saver and get giddy by extreme saving practices. I have to do it though, I don't see myself going back to work til next year.
Hamlette
(15,412 posts)I'm on hold to go back to unemployment office if needed.
I spend less except I have been buying toys online for my grandkids who are stuck at home and sometimes drive their parents nuts. And stuff to make face masks. Been doing that.
Demovictory9
(32,457 posts)people are making them using beautiful colorful fabric. I wanted a variety.
Hamlette
(15,412 posts)Initech
(100,080 posts)But I am buying a new car later this year so I will be able to put a pretty nice down payment on it when this is all over.
grantcart
(53,061 posts)BlueTsunami2018
(3,492 posts)I applied for unemployment March 21st and have not received a dime yet. Cant get through to them no matter what I try. And the bill collectors dont give a shit, theyre all Paulie from Goodfellas.
Once they straighten me out Ill be ok but right now the wolf is at the door.
Blue_true
(31,261 posts)So, I am ok.
SeattleVet
(5,477 posts)We've been eating out a lot less, and using up what we have in the pantry and freezer a little more than usual. Costco trips have been about 50% higher than usual, but we've been going less often and mostly tocking up on the things we always use.
Our only really big expense was last week when the stimulus bucks were direct-deposited, and we decided to order some beer from our local co-op brewery for pick-up, and also included a massive tip (a little over 100%) for the beertenders that have been doing a great job keeping everyone well-stocked. We decided that putting a little more into our neighborhood's economy was good for all concerned, and that's what the money was really for.
Our investments are probably down quite a bit - I have consciously NOT been frantically checking them on a daily basis. We've been 'buy-and-hold' investors for many years, and it's worked out very well for us. We should be diversified enough to blunt some of the impact of the recent market volatility, and we also have some 'protected' investment instruments that have limit switches for losses.
At any rate, you really haven't actually lost anything until you cash it out, so with any luck most of it will more than recover by the time we need to start drawing on it. In the meantime we're good on our defined retirement plans, and haven't even started drawing Social Security, yet.
Once things open up a bit more I'm sure we'll use our favorite local restaurants a lot more.
happybird
(4,608 posts)so my income has been about half. My hourly wage is higher but, as a server, most of my income was from tips. Im still getting tips but theyre pooled and split with the rest of the kitchen crew, so nowhere near as much as I was making before. Ha! Its weird to think Im technically BoH now. I just hope they dont want me in the kitchen when we get to reopen as a regular restaurant, lol!
My spending has increased. Im moving into a new house (was supposed to be at the end of March, but keeps getting pushed back) and have been ordering tons of needed stuff from Amazon, Wayfair, and other sites. I should finally be able to move in at the end of the month. Thank goodness for my savings. I am grateful to be so fortunate.
hunter
(38,317 posts)... and local food bank.
smirkymonkey
(63,221 posts)Can't get much delivered. The next grocery slot I could get is on April 30th. I'm scraping by. I'm still trying with other vendors, but no luck yet. I have been ordering take out for food, which is actually cheaper than groceries since it lasts a few days. However I am really running low on household supplies like paper goods and cleaning solutions.
There is just not much to spend money on that I need. I have been giving out donations to Dem candidates here and there,but that is about all I am spending on other than bills which are all automatic payments.
secondwind
(16,903 posts)Roland99
(53,342 posts)LeftInTX
(25,368 posts)Food is more expensive!
And we haven't received our checks and the IRS website says, "We can't determine if you are eligible" WTF???
DFW
(54,403 posts)Gas has gotten about 15% cheaper, and we're hardly using any of it anyway. We rarely eat out, so no real change there. We sometimes go for weekend getaways to nearby cities (Prague, Budapest, Hamburg, Barcelona, etc.) and have cut that out. No capricious shopping for fun (but expensive) foods and desserts to bring home from places I visit on working day trips (e.g. Zürich, Paris, Brussels). On the other hand, we have used the savings to do decades-overdue replacement for parts of the house that we just never got around to.
I have not been able to leave Germany for over a month now, and it is frankly ridiculous that I am still being paid at all. Even the countries I visit for work every week are still locked down, so even if Germany loosened up more than it has, it wouldn't do me any good. In other words, I'm being paid as a charity case for work I have not done, mostly in recognition of 45 (this August) straight years of nonstop service. I'm not ready to retire (I'm only 68), but everyone concerned knows this can't continue for long. Hurry up and wait.
mnhtnbb
(31,392 posts)I cut my birthday trip short by a week when I came home early from Bonaire on March 9th. My trip planned for Charleston's Spoleto Festival at the end of May has been canceled. I am about to cancel the mountain house I have booked for 2 weeks this summer from the end of June to mid July. Normally I would go to the beach for a week here in NC mid October. I haven't booked that and doubt I will.
I have been working on losing weight. So I've given up buying wine and booze. Not going out to restaurants.
I'm definitely spending less. My SS and pension income are the same and I haven't seen a decrease in dividend or interest income from investments. Yet. That could be coming and if or when it does, hopefully won't affect every day life since a good portion of it went to trips that now can't happen.
madville
(7,412 posts)I'm a government employee so paychecks are the same. Only actually allowed to go in to the office one day a week now, do everything else virtually from home so not spending money on gas or eating out.
I'm actually putting 25% of my income into the stock market the last couple of months since it took such a big dip, lots of good bargains out there on stuff that will come back eventually.
I think my biggest problem right now is boredom.