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Happy Hoosier

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Member since: Thu Sep 19, 2019, 10:27 AM
Number of posts: 3,448

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Well, it's official... furloughed.

I've been in company overhead for a bit now. I've been liquidating some assets in order to have some cash on hand, but of course, that means locking in losses. C'est la vie. The company is not laying me off, just a furlough. They will still pay my health and life insurance, and will even over my part of the premium, so that's great but no income. I'm not sure how unemployment works for furloughed folks. I've been fortunate to never be unwillingly unemployed in my life. I'm not eligible for the for the "relief" checks because of my usual income. I think I have enough cash on hand to make it for 2 months, if I really tighten the screws. I'm going to call my bank about the mortgage (just paid April yesterday, before the furlough today) and the car loan. After I burn through the emergency fund, the next stop is credit cards. Ugh. Hoping to avoid cracking the 401K and locking in big losses. My daughter's college fund is okay, since I moved the fund out of stocks last year.

Weird feeling. My wife still has her job. She's a professor on a 10-month pay schedule, so she gets paychecks through May. She doesn't make enough to cover the bills, but with the cash reserves, we're fine until June. I do have credit cards that should pull us through the summer if absolutely necessary. Her pay begins at the end of August again, and HOPEFULLY I am back to work by then. We'll see.

This is gonna hurt a bit.
Posted by Happy Hoosier | Fri Apr 3, 2020, 12:29 PM (11 replies)
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