Discussion in 'Current Affairs' started by willrocks, Apr 1, 2020.
In dollar terms how much has it cost you so far?
A few gold stocks I held dropped some. Otherwise I am ahead. Fortunate to still be working and getting paid. No travel to work so saving there and eating better so health is better.
Cost me? My wife hasn’t been clothes shopping for a month - I’m rich!
My salary has taken a slight haircut, so it’s meant I have less than usual to spend on some discretionary items. However I’m still covering my routine essential expenses comfortably and have no need to liquidate any assets under duress. Still able to buy PM’s, but just not as intensely as usual.
Considering I’m in the hospitality industry, I’m very lucky!
Not when you have ozzy dollar plummeting!
I'm about 65K down from starting a business in Nov last year. We were doing well until mid to late Feb.
I had a strong feeling 2020 would lead into a global recession, or at least a economic slowdown, but I took a "prepare for the worst and hope for the best" approach because I knew it wasn't wise to wait on the sidelines in anticipation for a collapse...in hindsight it was probably the best thing to do.
Dipping into your savings to survive isn't a nice feeling. Having no savings to dip into would be a nightmare. I've never seen my government as a vessel to save me from my own poor choices or circumstances. It's a good time to get creative and come up a plan B! Success through these times largely comes down to how willing and ready you are to adapt to a new environment.
It may be a good time to start up a 'Stackers Brains-Trust' to help each other see the potential opportunities in this environment...
Not sure yet.
It may be very expensive if the wifes boss decides to not reopen the company.
So far I’m down about 25k in missed airfares, additional holiday accommodation, and missed work. I’m supposed to be overseas now. If it goes on a few more months it’ll ruin my (overseas) business.
ScoMo government is only helping themselves for the next election.... $8B+ for economy... my ass! Most goes to Banks cause they made 'POOR' profits of $50B+ for the last 2-3 years....
As to small to medium businesses.... just pour a few millions here and there.... can't afford BILLIONS anymore, sorry...
Just our AirBnB which has practically lost every booking, and likely for the next 6 months, I'd say maybe $20k
I think at this stage it would be correct to assume this will continue for several months. Lockdowns in other countries have been extended and we haven't entered into the full lockdown phase yet. Psychologically, I think we're past that point.
If we do recover from this, the world and localised climate will be much different to the one we have just come from. It's a hard call to close your business ahead of time and move onto a plan B, but it may be the best thing you/we could do.
We have a potential 30% + unemployment rate looming over the Horizon to contend with and chances of a depression beyond that. Even if this Virus BS blows over in 3 months, I doubt the economy will bounce back soon after.
It's interesting to see what industries thrive in this climate. Maybe we should start a thread to underline the options for those out of work...
I've been looking for AirBnB bookings. There's plenty of vacancies. But they haven't dropped prices ... yet.
We are still working but I'm sure alot of customers will decide not to spend money on their asphalt this year.
I'm hoping we have alot of work during the summer but that's all I can do is hope.
We will be at the mercy of people spending money like every other business.
It hasnt costed me anything really yet but will when we have no work which could happen.
This collapse will be felt by everyone eventually.
My business is pretty much in the toilet....trying to hold on to the staff I have left until the Gov wage guarantee comes. At the moment I have Senior Account Managers, Admin Managers etc washing cars, sweeping and cleaning shelves....
Well maybe a $100k so far.
Between partners job and the Hit to one of my businesses.
But I could make up a good chunk of that with my other business that is running at record numbers, oddly because of the virus lol
But I have savings so can take a fairly big hit
If this last 6 months as they say,and both my business get shut down then it will be $200k hit at least
As I'm self employed with very little winter income, I'll be able to benefit from almost all of the Jobkeeper payment.
6 months at $1500/week = $19500
I don't plan on dropping prices, as there was already a race to the bottom in price in my suburb. I have a premium appeal place so I'm sticking with my existing prices.
But like I said, I can handle the financial hit.
On the flip side, I have a nice ready isolation place if needed
If thats the case you shouldn't have your grubby paw out you moocher.
Proof that there is always some guy who rorts the systems and tax payers.
Separate names with a comma.