How has your household income been affected?

[farmvillelover]

H took a paycut until at least July but he’s only working 2 days a week so it works out since he does most of the child and household stuff. My income has gone up but but that could change at any time depending on the business I generate. We received PPP funds so we are $ fine for at least a few months even if things dried up. I wouldn’t say my practice is totally recession proof but thankfully we aren’t affected much revenue wise.

[chimera]

DH had a 20% cut to avoid layoffs. He’s working more hours (salaried exempt) if I see him before 8 it’s early.

So far mine has stayed the same

[mcsangel2]

I didn't vote, because we're somewhere in between Stable, no change expected and Stable, but expect to decrease soon. We are stable for at least the next few/several months, but as the hit to the economy goes on (and you can't tell me it won't), I can't imagine that our companies won't be affected in some way. I would say we are stable with no change expected for at least 6 months. Longer than that things get iffy.

[melmel48]

May 5, 2020 14:55:11 GMT -5 Wallflower said:

Mine has been stable and I'm single, so just one income. (The cats don't do a damned thing around here to contribute!)

I said that it stayed the same and that I expect it to continue. However, we've seen a huge drop in client services - right now, we expect that to be temporary as our clients are moving into a panicked conservative stance for spending. The reality is that I'm extremely worried about the long-term health of the company and my position is an easy one to cut when the going gets tough (documentation in a software company).

My cats are assholes like that too! They just want, want, want, but they aren't willing to go to work to get all of those things! Good thing they earn their keep with lots of snuggles, silliness, and love! 

[galaxy8227]

I lost my part time job (waitress) back in March due to the shut down. We've been able to make it work financially so far but we've had to make adjustments.

[sdlaura]

DH and I both work FT in the investment industry. Our base salaries have not been impacted, and neither have my relatively small amounts of bonuses/profit-sharing. DH's income used to be 1/3 base, 2/3 bonuses, and the bonuses are now gone. Luckily we both work in a well-compensated industry and DH is a major saver who never counted on the bonuses to last to begin with, so we don't need to change our lifestyle now. If his firm ends up closing and we go down to just my income, we would be OK but would start cutting back on extra expenses.

[Beeps (WOT?*)]

DH's income was cut to make sure there was money to pay staff. All partners and associates received pay cuts to make sure staff could continue to be paid, as receivables were down. This is to make sure the firm stays on solid financial footing while the economy recovers, instead of the mass layoffs others are undergoing. I'm okay with that. We make enough to pay our bills and save and imo staff loyalty, and loyalty to staff, is important and keeping them paid increases the likelihood that they'll stay when things start to recover.

[wildrice]

So far no change, and our expenses have gone down without commute costs, no student loan payments, less entertainment.

I do not expect it to change, but who knows. We both work at universities so my job especially is tied to state funding. They have said repeatedly there are no layoffs or furloughs coming, but if we don't go back to campus for fall I assume that will change. I still think my job is fairly secure, but since many universities are doing pay cuts and furloughs I can imagine that being possible at some point.

My H's job is funded differently and he's only been there 2 months so I don't feel like we have a great understanding of how that works or what to expect. It sounds like they are anticipating more work, not less, so hopefully that helps with stability.

[niq]

(1) Stock market's still down a bit YTD, so stock-based compensation is worth less.
(2) there's been no guidance about what's going to happen as far as sales targets and the bonus pool, but I'm sure it's not going to be anywhere close to normal (pool getting funded at 80-100%, so a 16-20% bonus for me assuming I get a Meets Expectations review).
(3) msniq works for a state university. There are whispers of impending furloughs, probably a salary freeze. Hopefully Congress will make aid to state/local government happen.

In the grand scheme of things we're doing Just Fine. For now we're putting off big purchases (mostly low-to-mid four-figure home improvements we had planned). On the plus side, we're not spending infinity dollars on restaurants.