Question

Prior to COVID-19 I interviewed for a position at my current company that would change my life. Being the budget crazy lady that I am, I was able to budget out the rest of 2020 (I did it just for fun). By Nov of 2020, I would be 100% debt free. I was brought into the office last week to be told that I GOT THAT POSITION  Unfortunately, due to the world pandemic, not only do I not know what the pay is now, but my promotion is currently on hold. I HATE the unknown. Our hours were cut to 32/week. Zero overtime. Anyone else currently stuck feeling like things are never going to get better?  

Answer 1

I outlined when I would be debt free. Now it's on hold. But you have a plan! Just put the plan back in place as soon as you get rolling again. Think of how many people typically DON'T have a plan. You're already winning.  

Comments

@choriocarcinoma I needed that! Thank you ❤️

Answer 2

I lost my job right before this all happened. Now I have to complete with everyone else looking for a job. So yes.  

Answer 3

I would recommend that everyone starts cutting their budgets by 10-20 percent. Layoffs and salary cuts are coming.  

Comments

And yes I feel stuck and victim from all this as well

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@gyre10 I have cut everything I possibly can. The real struggle is that my sitter has decided to not babysit until this is over. I went from about 45 hours a week to 32 but paying double for a sitter  

Answer 4

Absolutely feel like that sometimes.  

Answer 5

I quit my job just before it got crazy (Mar 4th). I feel like NO ONE is hiring so I’m at a standstill. But being home more means I am not spending as much. Weird.  

Comments

@layne6 I also put in my 2 weeks notice just before the bombshell and am currently unemployed and can’t collect unemployment because of it. And without a vehicle, I’m limited on where I can apply. So I feel your struggle so hard right now.  

Answer 6

Im on a contract to end of yr. after that don’t know if I’ll have a job. I’ve just bought a house n mortgage, I feel sick if I think about it too much. it’s certainly curbed my spending n I’m doing budgeting w focus. I wasn’t good w money, but suddenly I’m putting lots thought into what I am doing.  

Answer 7

You have a job the rest will work itself out in due time. This is going to pass

Answer 8

They shut me down (I own a tattoo shop) so it could be worse.  

Comments

@linkage, I own two vapor stores. We are shut down as well. Did you already apply for your unemployment?  

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@linkage I am so sorry.  

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@hamlett yes I did just waiting .  

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@linkage, you can also apply for a disaster Relief Loan at sba. gov

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@hamlett Yeah but that’s just to pay business expenses I don’t have any expenses right now I’m not paying rent because they’re not making me and I don’t have any business debt.  

Answer 9

I’ve gone to 6-7hrs a week! My goal was by June 2020 being debt free  

Answer 10

I do. I don’t have any debt and I have some money saved, but I went from 40 hours a week to 25 hours a week with 1 week per month being furloughed. I am nervous. Schools are closed and at least I don’t have to worry about that, but this is definitely crazy.  

Answer 11

My job has instituted pay cuts and stopped retirement contributions. Last night they said they were going to furlough ppl that can’t work from home bc their jobs can’t be done remotely- at least through end of July. I was just starting to catch up on over due bills as I started in January. Now I’m worried that my job will go away or the university where I work will have to close after this since they might not recover financially.  

Answer 12

Congrats on the new position! When all this gets over you will be so excited!  

Comments

@breadthways4798 thank you so much! I have worked hard for this. I keep telling myself this is just temporary ❤️

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@thrave it certainly is temporary. And while you are waiting out all of this just think of how all your hard work is going to pay off!  

Answer 13

I feel you. I'm about to start a new job, with the virus, I maybe exposed more often. More pay, but had to ask a couple of times if on boarding was still happening. Furloughs, just started at my old job. I think its just the start for furloughs.  

Answer 14

You are not alone, I got a 1. 6% race effective March 30th, @potage9 1 I got call to indicated that due the pandemic I was going to receive a 10% cut in my income until further notice or until the pandemic goes away, I was re funding my EF and I am not prepare for this, I also increase my debt amount recently trying to pay down debt quickly (I know, not the best move) but it need it to be done, so now the uncertainty of all this going on is making me worry, I am thankful to still be able to work but the sick feeling I have on my gut for all this is not good. I am praying for all of us to be able to get through this times.  

Answer 15

They paused pay raises at my work for 12 months, and were on a hiring freeze til June. even if we get a new position within 12 months we won’t get the pay increase until the 12 months is over  

Answer 16

I'm in the same boat. Hours cut to 32 and its mandatory we use PTO to cover the 8 hours. Plus the position I applied for is on hold too  

Answer 17

Congratulations❤️ Just keep in mind this obstacle will NOT last forever. You will get this promotion started along with a pay increase. Sometimes things take a little longer than expected and that’s ok❤️

Answer 18

How do y’all outline when you’ll be debt free? I guess I struggle because some months I can add an extra payment, while others I cannot

Answer 19

My husband and I were just talking about this last night, how it feels impossible to think of the future right now. We’re all just trying to make it day by day, and that’s okay!  

Answer 20

Working only 25 hours. But who knows for how much longer. My job is oil and gas related, and been scary slow.  

Answer 21

I'm happy - and sad for you. but im glad you have hours! I had 9 last week and some have none. But we will get through this tough patch. It's rough but wen it blows over, man am I gonna have fun working new numbers!  

Answer 22

Health over budget. This is an atypical time. Later will be time an oportunity to budget.