DH is working 30 hours/week from home, 10 hours he has to go in.
I am furloughed, and the only money I was still making was about $200/month teaching Hebrew, which I am not doing over Zoom.
We have savings, and have taken out liquid saving account (our other accounts have penalties for early withdrawal), and put half into a second account we opened. We transfer to our spending (debit cards and bill-pay online) account as we need.
We calculated that our saving could carry us 10 months, and then be depleted, so we set aside half, and now are prepared to live for 5 months “hunkered down.”
We also have a small annuity that gives us just about enough money to pay the utilities every month. We have no car payments.
We have a very strict budget we are sticking to. Because there are not nights when people have to stay late at work, of life other wise interferes, getting a homemade meal to the table is easy, so we aren’t spending money of take-out food anymore.
We plan meals two weeks at a time, and order what we will need for them, which we don’t already have from Amazon Fresh-- these are mainly fresh produce and dairy-- albeit, the one thing we did stock up on that we normally do not buy or keep in the house is some shelf-stable milk, and some powdered milk.
We looked at where we were at the end of the first week, and decided that I should get some crappy part-time job for the duration. I need to bring in $200/week. I signed on to deliver for Amazon and Uber Eats (NOT transporting passengers for Uber. I’d end up getting called by the Dionne quintuplets at the airport, just getting back from Rome.
The jobs are not as crappy as I’d anticipated. I spend most of them sitting in my car listening to NPR. Last week, I made $212, and spent $17 on gas. Yes, I know there is wear& tear to my car, but it’s a 2002 Audi, so I’m not especially worried. I called my insurance company, and to insure me as a delivery driver costs an additional $12/month. 3 bucks a week. That makes my cost of business $20, and my take-home $192. That was for the first week, during which I did not start until Wednesday. So I’m optimistic it will work out.
Our credit cards are at about 10% use right now, which is typical. We find that if we don’t use them a little every month, our credit score drops. We decided to apply for a couple more cards with limits around $2000. Right now, we have “the Big One,” with a limit of $9,500, the “Medium” with a limit of $4200," the “babies” two cards we actually carry with us that have limits or $500. We don’t carry Big and Medium. If we get these cards, we can potentially live VERY frugally on credit for 8 months. We additionally have a Meijier card, that we reserve for gas (it gets us a 10 cent discount on gas), a Walmart card, a Best Buy card, a Home Depot Card, and a Target card. All those cards get us discounts, which is why have them.
The “half our savings” in the second account we decided to put there to prevent accidentally spending it. It’s there in case one of gets sick, and needs hospital care.
I know that’s long, but we spent an evening hammering it out, and half a day setting it all up.
I think we are ready.