Financial adjustments - corona

springers · ‎03-09-2010

My husband is in auto sales. Not knowing the duration of this pandemic, we made some adjustments. The mortgage payment is pushed back 30 days, I will need to call for another 30 if needed.
The car payment is pushed back for 3 months.
This gives us room to breathe while we don’t know what the future holds.
We are using his check for food and utilities.
We have some savings and Equity line but hoping not to use those.
Looking forward to the 1200 check and tax refund.

Mz iMac · ‎07-26-2014

@springers wrote:
My husband is in auto sales.

@springers My oldest child was having car troubles & paid a lot of $$$ to have it fixed. Car is starting to nickle & dime her. I told her maybe when businesses start opening again its possible new car dealerships may have car deals that you can't possibly pass up.

Can you ask your husband if this is so?

"Never argue with a fool. Onlookers may not be able to tell the difference."

JasoninBoston · ‎02-18-2012

I have cut way back on my spending!

I live in downtown Boston and am quite scared about the financial markets.

My apt looks out at the 2000 room Back Bay Sheraton Hotel. It has been completely closed for the past several weeks and is now dark. In the other direction I can see the Mandarin Oriental hotel. That is also closed (although they do have condos there and people are still in those).

It's very frightening to me what's happening and as I mentioned in another thread all the luxury shops near by have completely removed all their inventory and are completely empty and in some cases boarded up to prevent people from breaking in (which I don't know why anyone would due to them being empty)!

And then there are the smaller shops that are all closed as well.

I mentioned to my dad that I don't see how things can quickly bounce back as this is the scene all over the world.....From what's happening here everything is closed down like this for at least through the end of April and perhaps longer....

God help everyone!

GCR18 · ‎07-03-2013

It's tough out there. The daily unemployment numbers are scary. My job hasn't been impacted, but I've been around long enough there are no guarantees in life. I hope things pickup with your husband's job. Best wishes.

LisaMofSLC · ‎11-12-2010

My company has had layoffs in what they deem non essential departments. Luckily we have become so busy, we're working enforced over time. It is slowing though, and although I don't worry about layoffs, I do fear pay cuts. The CEOs have taken a 50% cut. I remember years ago when employees of various companies were given pay cuts. They never really fully recovered what they lost, at least not for years. I recently received a $300 bonus, and instead of saving it, I am spending it on badly needed clothes (I work at home and haven't bought new in several years, so holes are starting to appear in my shirts). Also used some for Schwan's food delivery so I don't have to go out. My rent is so high, a pay cut would devastate my budget. Any wonder so many of us are stressed out about more than getting sick.

AuntG · ‎03-09-2010

Those who can afford it can probably get great deals on cars right now.

springers · ‎03-09-2010

Yes, my husbands dealership is open and people that can afford to can get good deals.
a lot of makers are offering no payments for 3 months and low interest rates

sceniccoast · ‎03-09-2010

So far, I'm fortunate to still be working. For how long, is anyones' guess.

House & cars are paid for. Wish our CC was lower but working on it. Other than that, we're trying not to touch our savings much.

My 401K is a big worry! I was planning on retiring (at least part-time) next March. Now, it's very iffy!

Wishing everyone good health & good luck with the finances.

Shanus · ‎05-17-2010

@springers wrote:
Yes, my husbands dealership is open and people that can afford to can get good deals.
a lot of makers are offering no payments for 3 months and low interest rates

@springers I've seen ads on TV about that.

Shanus · ‎05-17-2010

DH still going to the office and working from home. Even though tax deadline moved to July 15th, those expecting refunds want to file now. The only issue is they want their return done, but are not paying their bill. The medical practices that make up 1/2 of his clients have closed and although DH knows there's money in savings, etc., they're holding onto it instead of paying for services rendered. That puts us behind paying for our expenses.

I'm sure this is happening across the board. Trickle down effect. Eventually banks, insurance companies, utilities all have to collect their money even if the government has extended payments a few months.