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I have seriously not come into contact with anyone who is openly in financial pain because of Covid


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I might be really blind to this and totally shielded, but does anyone or has anyone come across anyone who has yet suffered financially in anyway through Covid?

Yes I am starting to personally see the job losses that are coming and they have crept up fast in the last month, but as of yet I have seen nothing like the rhetoric so many are using to politicise money handouts etc, Manchester being a good example. I have not seen desperation where people are going through  their savings or people with heads in hands as their businesses folds, rents not being paid or empty fridges and people  selling off their assets and even homes as claimed on a Radio call inn yesterday in desperation, in fact I am seeing house prices rocket up in the real world

Honesty not trying to contradict any real pain that might or is out there, but have any of you see it?

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We're changing lifestyle.  Other half been going to work (factory) to bring something in.  I had to retire at 60 to look after my parents.  Parents gone now, and I had to chuck lots of shoes and boots

Well, I've had a difficult 6+ months -- ltd company with workers on zero-hours contracts (most are retired and they all earn more than me) -- new contracts have stopped coming in, current work has bee

Can I just say, I have always liked you.

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I have.

Several contractors in Melbourne who were terminated almost overnight back in April.

Me, my income dropped almost 50% overnight as clients mothballed projects, so the government assistance was very welcome.  climbed back up since, but it was a noticeable drop.  one overseas project got canned due to flight restrictions.

my local cafe, run by a great bloke, who had takings down by 80% from april-august before restrictions lifted a bit.

sports teams in AFL and ARU who have sacked a lot of people, I know a couple and it was very unexpected.

 

So yes, the financial damage is real, I am afraid/

 

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Heard of commercial property company ripping out fridges / kitchenettes from their small leased offices (in mixed residential type buildings), commercial leases being thrown back at landlord, lots in entertainment serious up against the wall work wise, trades - mixed, difficult trading then extremely busy. Very mixed (largely overmuch down) but with a few standout winners making out like bandits.

I still think a lot will be changing their life plans, retiring early/downsizing making some space and leeway for those worst affected to move into their shoes - not the sort of decision made necessarily on the spur of the money, many months or a year or two type moves.

Edited by onlyme
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My cousin's wife works in a florist, had her hours cut and the owner has just put it on the market. However they are doubtful they will find someone daft enough to buy a high street shop.

Her daughter still lives at home and works in a restaurant. Her hours have been cut and the owner is thinking of trying to sell the business.

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7 minutes ago, SpectrumFX said:

I'm in Wales so most people were public sector, retired, or on benefits in the first place.

xD

This is an interesting example, in my old Manor there was large dependency on welfare  with cash working/jobs on the side which made some people very comfortable indeed. How do you explain a loss of income like that to the Government fairy cash cow?:)

Maybe I need to dig a bit deeper and I also remember from past experience you never know a persons desperate plight until they hit rock bottom and roar their eyes out and you finally find out their struggle over the past year which you was unaware of

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30 minutes ago, onlyme said:

Heard of commercial property company ripping out fridges / kitchenettes from their small leased offices (in mixed residential type buildings), commercial leases being thrown back at landlord, lots in entertainment serious up against the wall work wise, trades - mixed, difficult trading then extremely busy. Very mixed (largely overmuch down) but with a few standout winners making out like bandits.

I still think a lot will be changing their life plans, retiring early/downsizing making some space and leeway for those worst affected to move into their shoes - not the sort of decision made necessarily on the spur of the money, many months or a year or two type moves.

 

I've changed life plans

The people I know (including me) are all self-employed sole traders and they have all been impacted by Covid19 in that their job has gone or diminished because of it, but they are either doing different work while they wait for their main job to return (if it does) or they are living off savings. Some received the £10k grant and all received the income compensation scheme money. None of us have spent any of that money yet (if everyone's being truthful). So I haven't seen any hardship yet.

We could all probably last a while OK and have always planned for a dry period because you never know when hardship or illness will strike. But we all live very cheap basic lives, or what most people would think are basic lives.

One friend (65) has just tested +ve for Covid19 and that has brought his work to a halt and that of all his staff as they are all now self-isolating.

I do know one person, an employee who was on furlough, whom was called back to full time work at 15 hrs notice. He restructured life (arranged child care etc) and made it to work the next mornig. 24 hrs later he was handed his at risk letter and then made redundant. I think the employer was probably hoping that he couldn't return to work at such short notice. Fortunately, for him, his wife works in the public sector and they can just about manage on one salary.
 

Edited by Hopeful
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My wife lost her lucrative IT contractor role, but has fortunately crossed over (to one of very few) permanent roles at the same company. Yes, by most standards it is still a good salary, but maybe almost 1/3 of what she was earning before. 
 

She has heard shocking stories of 200+ candidates applying for some IT contractor roles recently. 
 

Not looking for any sympathy (1st world problems 😂) but unfortunately this has happened just as our daughter has started at private school. Lifestyle has seriously changed as a result. (Again, I am more than aware we have still got a pretty decent standard of living).

It is strange we haven’t heard more stories of people on the utter breadline though...

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6 minutes ago, Rowley said:

My wife lost her lucrative IT contractor role, but has fortunately crossed over (to one of very few) permanent roles at the same company. Yes, by most standards it is still a good salary, but maybe almost 1/3 of what she was earning before. 
 

She has heard shocking stories of 200+ candidates applying for some IT contractor roles recently. 
 

Not looking for any sympathy (1st world problems 😂) but unfortunately this has happened just as our daughter has started at private school. Lifestyle has seriously changed as a result. (Again, I am more than aware we have still got a pretty decent standard of living).

It is strange we haven’t heard more stories of people on the utter breadline though...

See, these sort of wage drops are what is what is baffling me and what I am reading about a lot. I am sure you are managing and I am glad about that, but through experience I have known and still know so many people pre March 2020 who made as much money as they could possibly make and with two working who after mortgage costs and all the other living costs we have in life as well as putting money aside for a pension had very little to play with come the end of the month.

You even felt last year that if any of them had a wage cut or some adversity hit them in life then they would be in the s***, roll on a year and people seem to be coping with far bigger cuts if you are to believe the media.

I am in a Cambs village by the way with a big private school, maybe this is how I am so blinkered as watch these stuck up rich mums most morning in their huge cars :),

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1 hour ago, haroldshand said:

I might be really blind to this and totally shielded, but does anyone or has anyone come across anyone who has yet suffered financially in anyway through Covid?

Yes I am starting to personally see the job losses that are coming and they have crept up fast in the last month, but as of yet I have seen nothing like the rhetoric so many are using to politicise money handouts etc, Manchester being a good example. I have not seen desperation where people are going through  their savings or people with heads in hands as their businesses folds, rents not being paid or empty fridges and people  selling off their assets and even homes as claimed on a Radio call inn yesterday in desperation, in fact I am seeing house prices rocket up in the real world

Honesty not trying to contradict any real pain that might or is out there, but have any of you see it?

I have helped a few friends out in the UK and USA to the tune of about £15K since lock down started.

People are struggling more than you might think or more than they are willing to admit

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1 minute ago, jamanda said:

We're changing lifestyle.  Other half been going to work (factory) to bring something in.  I had to retire at 60 to look after my parents.  Parents gone now, and I had to chuck lots of shoes and boots out, brand new, as they were saving them "for best".  What is the point?

 

Realised that there wasn't much point in me being on my own for the next 9 years until his retirement and him being knackered by that time, so he is putting his notice in today.  I have very small pension and state pension which covers dd's and he might pick up odd jobs, gardening, etc. for his pocket money.

 

I might be back with a begging bowl in a few years, but what the hell.  Life is too short.

Best of luck, and you grab whatever you can from the system anyway you can:) as there are plenty out there who have put f*** all in and taken so much out

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29 minutes ago, MrLibertyRedux said:

Arts sector fucked in its eye socket - totally.

Hospitality - at least 3/4 pubs in walking distance might just survive until new year. 2 already not opening back up if local grapevine is correct.

Contractors (tech) being canned since this started back in April.

Many permanent new posts (tech again) on hold, cancelled, or redundancy on the way if not already for existing jobs.

Youngest really suffering - friends kids who are working towards proper jobs via whatever means who were supplementing their income with hospitality type jobs and the rest.

One close friend doesn't think he'll still have the house next summer.

That's just a brief summary. And it isn't going to get any better for many from what I am seeing.

And all so unnecessary these people have a right to be very very angry 

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There is an utter management wanker at work paying £1100/month lease on a Tesla who is now literally just going to the supermarket and back in it.

Used to brag how it cost him nothing to charge as he would sit of an evening at a free charger for two hours and read a book.

If you are not in work or on furlough money now things like car leases are like trying to swim with bricks in your pockets.

I imagine its all proportional to the level of debt (faux wealth) you are servicing.

Edited by Chewing Grass
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18 minutes ago, jamanda said:

We're changing lifestyle.  Other half been going to work (factory) to bring something in.  I had to retire at 60 to look after my parents.  Parents gone now, and I had to chuck lots of shoes and boots out, brand new, as they were saving them "for best".  What is the point?

 

Realised that there wasn't much point in me being on my own for the next 9 years until his retirement and him being knackered by that time, so he is putting his notice in today.  I have very small pension and state pension which covers dd's and he might pick up odd jobs, gardening, etc. for his pocket money.

 

I might be back with a begging bowl in a few years, but what the hell.  Life is too short.

 

Very similar

My mother, 92, lives in holey jumpers with under bed drawers full of brand new unworn ones I've bought her over the years that are kept 'for best' and boxes of new Damart slippers in the wardrobe. When father died i chucked away loads of new clothes. (but I've inherited those traits of living in rags with new clothes in the cupboard, or so the GF maintains.)

I'm trying to persuade the GF to quit work. Her job 24hr pw +overtime (which no longer happens becasue of Covid19) has really diminshed in quantity and I reckon her employer would jump at the chance of her early retirement. (Unfortunately, she'd probably be one of the last to be made redundant because she is appreciated for having been the glue that held the place together over the years.)

But, by my calculations, when you take account of the savings that accrue from not working   (~£2k in commuting for starters), we'd only be about £8K down pa max and maybe less. Over the few years she has to work, that loss would be bearable and easily compensated for by the fact that we'd have more free time - we would live a much better lifestyle.

That's my plan and I keep chipping away at it.

It it went tits up financially down the road, so what, we'll always find a way.

As you say, life's too short, to be focused on money.

Edited by Hopeful
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11 minutes ago, ad_ceng said:

And all so unnecessary these people have a right to be very very angry 

My money has gone, I'm not angry, I've always seen my work as a luxury for society. If there is cash to spare, scientists and artists etc can be afforded. If there isn't cash to spare we are at the bottom of the heap. Food producers will be at the top of the pile.

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2 minutes ago, Chewing Grass said:

There is an utter management wanker at work paying £1100/month lease on a Tesla who is now literally just going to the supermarket and back in it.

Used to brag how it cost him nothing to charge as he would sit of an evening at a free charger for two hours and read a book.

If you are not in work or on furlough money now things like care leases are like trying to swim with bricks in your pockets.

I imagine its all proportional to the level of debt (faux wealth) you are servicing.

Yes. I can't possibly see how all the things we have been discussing here and on ToS for years aren't going to start to unravel over the next 12 months.

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