Are you benefitting from Covid19?
Discussion
I know, I know.
I’ll start with being self employed so have really no choice but to continue working.
My only customers now are Drs, nurses, care workers, tfl staff.
Key workers.
I’m busier next week than I have been the same time last year. This is the start of the busy 5 months.
I’m pretty much the only one doing what I do in West to North London.
I take precautions as much as I can and will carry on.
4 weeks ago, it was a nightmare. In 2 hours, I refunded nearly £4K advance bookings. Had everything cancelled for April/May but now, I’m on my feet again and it seems to be a chance to actually save some money.
My 2 credit card providers sent me the application to suspend payments etc. Payments suspended but interest, that’s ok, no negative impact if I can’t pay for the next 3 months. My payments due will be £0.
My car lease people/insurance did the same (saves me £900 per month)
Santander is f
ked though. I’ll remember that.
It actually look like I’ll be able to make it through, without Govmnt help. And actually save a bit, for the future.
I’m concerned though.
Once furlough ends, what are 15 million people do to survive?
I’ve a bunch of friends sitting pretty on 80% just now. But if this carries on, how much longer can they rely on help?
Or am I going to be the one who came out ok? Or are they going to be screwed?
I’ll start with being self employed so have really no choice but to continue working.
My only customers now are Drs, nurses, care workers, tfl staff.
Key workers.
I’m busier next week than I have been the same time last year. This is the start of the busy 5 months.
I’m pretty much the only one doing what I do in West to North London.
I take precautions as much as I can and will carry on.
4 weeks ago, it was a nightmare. In 2 hours, I refunded nearly £4K advance bookings. Had everything cancelled for April/May but now, I’m on my feet again and it seems to be a chance to actually save some money.
My 2 credit card providers sent me the application to suspend payments etc. Payments suspended but interest, that’s ok, no negative impact if I can’t pay for the next 3 months. My payments due will be £0.
My car lease people/insurance did the same (saves me £900 per month)
Santander is f
ked though. I’ll remember that.It actually look like I’ll be able to make it through, without Govmnt help. And actually save a bit, for the future.
I’m concerned though.
Once furlough ends, what are 15 million people do to survive?
I’ve a bunch of friends sitting pretty on 80% just now. But if this carries on, how much longer can they rely on help?
Or am I going to be the one who came out ok? Or are they going to be screwed?
I'm saving 4 hours / day commuting along with the associated train costs which I'm putting into my savings account. I'm also spending far less on food as no longer have to pay for New York priced lunches. The extra time is allowing me to sleep more and establish an effective and regular exercise regime.
I will never go back to working 5 days/week in the office as a result. That's my silver-lining
I will never go back to working 5 days/week in the office as a result. That's my silver-lining
TVR1 said:
HustleRussell said:
I don’t think it’s so much a matter of ‘benefitting’, but perhaps one of being ‘less disadvantaged’ than others. We’ll all end up paying for it one way or another.
I agree. But the ones who are furloughed are about to see a world of pain that they didn’t expect?I was currently in between jobs and wasn’t planning on looking, but last week I was offered a pretty decent contract to help a company experiencing a high volume of business and having stability problems. Not exactly in the frame of mind to work at the minute, but feel I shouldn’t look a gift horse in the mouth.
Yes, sort of.
On the one hand, my finals are in a new online exam format. And like a mug, I stood to be a student representative earlier this year, so... that's been an unexpected heavy burden of responsibility.
On the plus side, I've been living in college, so don't have to pay the term's rent... but I'll still get the maintenance loan. So I'm more than a grand ahead in that respect! My dad's a BAE software engineer, so is now working from home, and my mum's retired. So no hit to the family finances, either.
And, I've been rather enjoying the quiet roads when I get out for a ride!
On the one hand, my finals are in a new online exam format. And like a mug, I stood to be a student representative earlier this year, so... that's been an unexpected heavy burden of responsibility.
On the plus side, I've been living in college, so don't have to pay the term's rent... but I'll still get the maintenance loan. So I'm more than a grand ahead in that respect! My dad's a BAE software engineer, so is now working from home, and my mum's retired. So no hit to the family finances, either.
And, I've been rather enjoying the quiet roads when I get out for a ride!
I think we're all about to see a world of pain we didn’t expect. I think a lot of businesses/sectors won’t recover from this and furlough in some ways just prolongs the inevitable. Its probably fairly safe to say we’re headed for a recession and that will have catastrophic consequences for many, but there will be those people less affected and some that even do well from it.
Mannginger said:
I'm saving 4 hours / day commuting along with the associated train costs which I'm putting into my savings account. I'm also spending far less on food as no longer have to pay for New York priced lunches. The extra time is allowing me to sleep more and establish an effective and regular exercise regime.
I will never go back to working 5 days/week in the office as a result. That's my silver-lining
My journey times have been cut probably 50% over a day, too, between ‘jobs’ That means I can do in 8 hours, what I’d do in 15 hours, home to home.I will never go back to working 5 days/week in the office as a result. That's my silver-lining
My daughter. How much more time I spend with her and no crying ‘Cos she’ll see me soon.
It’s wonderful.
Me neither.
Perhaps a good time to work out priorities and think is there a better way?
Solocle said:
Yes, sort of.
On the one hand, my finals are in a new online exam format. And like a mug, I stood to be a student representative earlier this year, so... that's been an unexpected heavy burden of responsibility.
On the plus side, I've been living in college, so don't have to pay the term's rent... but I'll still get the maintenance loan. So I'm more than a grand ahead in that respect! My dad's a BAE software engineer, so is now working from home, and my mum's retired. So no hit to the family finances, either.
And, I've been rather enjoying the quiet roads when I get out for a ride!
That’s good news!On the one hand, my finals are in a new online exam format. And like a mug, I stood to be a student representative earlier this year, so... that's been an unexpected heavy burden of responsibility.
On the plus side, I've been living in college, so don't have to pay the term's rent... but I'll still get the maintenance loan. So I'm more than a grand ahead in that respect! My dad's a BAE software engineer, so is now working from home, and my mum's retired. So no hit to the family finances, either.
And, I've been rather enjoying the quiet roads when I get out for a ride!
I’m sure you’ll see some abuse blah blah.
However, saying it as someone who didn’t have to be concerned with paying back loans and further education, this is what it’s come to.
Advice is though, eventually, the musical chairs will stop.
Don’t be left without a seat.
If you’ve been offered anything. Put the money in the bank. You’ll be a survivor.
Later, when you continue your studies, you will be beholden to no one.
Ifvtfst makes sense?
In some ways yes. Financially no, heath wise yes.
I spent 10 years or so getting up at 5:20am, leaving the house at 6am, driving to work. Work 7am to 5pm, and drive back home to be back at around 6pm (so 12 hours away from home). I lived on like 5 - 6 hours sleep a night for years. Since I've been furloughed, I've been sleeping like 10, 12 hours a night. I've never been so well rested, even my hair has gone shiny (A nice shiny coat, like a horse....). I actually feel really well. Trouble is when things go back to normal, unless I just work and sleep, I can't do it.
I spent 10 years or so getting up at 5:20am, leaving the house at 6am, driving to work. Work 7am to 5pm, and drive back home to be back at around 6pm (so 12 hours away from home). I lived on like 5 - 6 hours sleep a night for years. Since I've been furloughed, I've been sleeping like 10, 12 hours a night. I've never been so well rested, even my hair has gone shiny (A nice shiny coat, like a horse....). I actually feel really well. Trouble is when things go back to normal, unless I just work and sleep, I can't do it.
adf83 said:
I think we're all about to see a world of pain we didn’t expect. I think a lot of businesses/sectors won’t recover from this and furlough in some ways just prolongs the inevitable. Its probably fairly safe to say we’re headed for a recession and that will have catastrophic consequences for many, but there will be those people less affected and some that even do well from it.
If it comforts you, the graph below shows how long economists expect recovery to take in comparison to the last recession;
Yep very much so. Rather than pay a landscape gardener to do the garden we have saved nearly 5k as I have been doing it myself while getting 80% of my normal self employed money. Starting a new job on Monday week with a couple more in the weeks after that. My only worry is that I will have time to get the garden finished before work goes silly again.
Add to that I have already got a good tan and kept fit.
Add to that I have already got a good tan and kept fit.
It's an interesting thing to think about, OP. I'm told by a couple of friends that when you add the savings they are making (commuting costs, after work drinks, buying lunch, gym and Sky Sports subscriptions) to the 80% wages they'll get, they are slightly better off.
Given that the weather has been lovely recently, they are happy for the lockdown to continue.
They also seem to genuinely believe that the furlough money from the government is literally free cash. I've tried to explain that we, as a society, must pay it back in the future, but they don't get it. "The UK is a rich country, we can afford it" is their reasoning. I should add they both voted Labour at the last election. Make of that what you will.
Given that the weather has been lovely recently, they are happy for the lockdown to continue.
They also seem to genuinely believe that the furlough money from the government is literally free cash. I've tried to explain that we, as a society, must pay it back in the future, but they don't get it. "The UK is a rich country, we can afford it" is their reasoning. I should add they both voted Labour at the last election. Make of that what you will.
I've have various interests in different businesses.
One of them, which I won't discuss, is making very good money at the moment.
And the one of the others, which involves debt collecting, repossessions etc will make just as much when this over, as the recession kicks in.
I'm also involved in the supplying of doormen/security, which has obviously declined with the closure of clubs and pubs but that's not my main income stream.
Many of my doormen work for me in the repossessions business during the day, so they will all be ok too.
Recession isn't bad for everyone.
One of them, which I won't discuss, is making very good money at the moment.
And the one of the others, which involves debt collecting, repossessions etc will make just as much when this over, as the recession kicks in.
I'm also involved in the supplying of doormen/security, which has obviously declined with the closure of clubs and pubs but that's not my main income stream.
Many of my doormen work for me in the repossessions business during the day, so they will all be ok too.
Recession isn't bad for everyone.
I could have been if I hadn't retired at the end of February.
I was a milkman and I've kept my Facebook page open a) to tell people I've retired and b) to redirect them to another supplier.
Since I retired I've had 400+ views on my page and quite a few calls.
Assuming most of those are looking for a delivery due to lockdown I could have nearly doubled my run.
Work as a surveyor for a company who specialises in facilities management, maintenance programs, building regeneration schemes for various private, government and local government clients.
We work on schools, factories, hospitals, offices and social housing.
Started off crisis on call for emergency maintenance and repairs receiving 80% of basic wage paid for by employer rather than on furlough but once she established a level of staffing needed I was furloughed. 80% of basic is actually a big hit on take-home pay as I clock up between 40 and 55hrs overtime a month.
I own a flat I rent out and my tenant (IT techie guy) is working from home, doing well and paying full rent.
My partner is a nurse so completely unaffected financially.
With so much of our work being for NHS trusts, Education trusts and local authorities the economy would have to tank really badly before I think I'd lose my job. Once the lockdown lifts there will be such a backlog of work to be carried out I'll be 7 days a week for weeks to catch up.
Was in the process of buying a new house so was sitting on a big deposit, had dropped my PCPed car for a £2.7k shorter bought cash and had an agreed mortgage in place.
Not sure where I stand with mortgage. I had been granted an amount based on deposit, pay, OT, two years plus continuous employment with current employer and two years tax returns on receipt of rent.
Now not sure what they'll give me eventually or how it will be calculated.
Will it be based on my furlough income, previous basic or the three months salary + OT previously agreed? Will they still include my rental income or will that now be considered as too precarious in current economic climate? Will they be looking for a larger deposit to cover against negative equity in case of a property price collapse.
Could I end up with more buying power with less money should the unavailability of mortgages cause a housing price collapse?
Could a situation arise where the number of people looking for houses remain the same but no-one is selling and house prices may even go up?
No-one knows.
What terrifies me is when working I live with my elderly and vulnerable parents as my partner lives way too far to commute.
When we go back with a risk of infection I could bring the virus back to their house so am desperate to get accommodation.
We work on schools, factories, hospitals, offices and social housing.
Started off crisis on call for emergency maintenance and repairs receiving 80% of basic wage paid for by employer rather than on furlough but once she established a level of staffing needed I was furloughed. 80% of basic is actually a big hit on take-home pay as I clock up between 40 and 55hrs overtime a month.
I own a flat I rent out and my tenant (IT techie guy) is working from home, doing well and paying full rent.
My partner is a nurse so completely unaffected financially.
With so much of our work being for NHS trusts, Education trusts and local authorities the economy would have to tank really badly before I think I'd lose my job. Once the lockdown lifts there will be such a backlog of work to be carried out I'll be 7 days a week for weeks to catch up.
Was in the process of buying a new house so was sitting on a big deposit, had dropped my PCPed car for a £2.7k shorter bought cash and had an agreed mortgage in place.
Not sure where I stand with mortgage. I had been granted an amount based on deposit, pay, OT, two years plus continuous employment with current employer and two years tax returns on receipt of rent.
Now not sure what they'll give me eventually or how it will be calculated.
Will it be based on my furlough income, previous basic or the three months salary + OT previously agreed? Will they still include my rental income or will that now be considered as too precarious in current economic climate? Will they be looking for a larger deposit to cover against negative equity in case of a property price collapse.
Could I end up with more buying power with less money should the unavailability of mortgages cause a housing price collapse?
Could a situation arise where the number of people looking for houses remain the same but no-one is selling and house prices may even go up?
No-one knows.
What terrifies me is when working I live with my elderly and vulnerable parents as my partner lives way too far to commute.
When we go back with a risk of infection I could bring the virus back to their house so am desperate to get accommodation.
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