You know I didn’t want to write about coronavirus, right? I mean, who needs another depressing headline and dreary report about a destructive, unthinking, orange, thin-skinned, entitled, haphazard virus that wreaks havoc on America’s physical, mental, and economic well-being?
And don’t even get me started on COVID-19! Ugh.
So here we are. I can tell from all your baking and pickling pictures on social media that you have some “free time”. Congratulations, you must not have children. That is also why you can afford yeast on the black market. As you’re learning how much less expensive it is to eat food you make yourself, let us also take this opportunity to see how else the pandemic might be impacting our financial life—maybe even some parts for the (gasp!) better.
Lord knows we could all use a little silver lining.
Income
OK, so that silver lining is not, umm, here. If you are among the likely under-counted 20 million Americans who lost jobs in April alone due to the pandemic, this income number probably isn’t looking too good right now. Unemployment benefits and one-time stimulus payments rarely cover your full pay, and boy, this is not a great time to be looking for a new job … not unless you’ve always harbored a secret dream to stock the Cleaning Supplies aisle of the local grocery store and in that case, HERE’S YOUR BIG CHANCE GO GET ’EM. Pandemic impact – terrible
A lot of things didn’t happen this spring. Our Spring Break trip – cancelled. Piano lessons – cancelled … for the time being. Commuting to work – cancelled. Eating at restaurants – cancelled. Coffee with friends – cancelled. Gym workouts – cancelled. *sob*
Two-thirds of the U.S. economy comes from the service sector, not things, but rather things happening. All these things not happening is a big reason why 20 million people lost jobs last month. Then again, not happening things are also cheaper (read here free) so most people are probably spending less, particularly if your household income (see above) has taken a hit. Or might take a hit soon. Or seems totally fine now—yeah, look at my new mask factory!—but you know I’d feel just a tad bit more comfortable if we had enough saved for, like, five years of living expenses with nobody working (is coronavirus finally weeding out the eternal optimists? Asking for a friend—thanks).
Sure, you did have to buy that jar of instant coffee to make that whipped drink you saw on Instagram, but that was probably more than balanced out by, you know, not going to Disney World. Pandemic impact – good
Any change to your Net Worth comes from the difference between your income and your budgie (expenses) each month so … 🤷♀️ Pandemic impact – it depends
You mean, like, “Brush hair for 9 a.m. camera-on Zoom meeting”? (My boss reading this right now: That’s why she’s always wearing a hat). Sure—or maybe something a little further out. Like, “No crunchy snacks at 3 p.m. mic-on Zoom meeting.” I have to admit this pillar of LBYM is suffering a bit right now. It’s hard to make plans, let alone set goals, when I don’t know if my kid will ever actually, you know, go to the middle school I can see from our house. Pandemic impact – bad
Joie de vivre
This is French for “zest for life”. That is what they have in France because their primary schools are open. Pandemic impact – bad
Joie de LBYM
One of my friends said to me the other day that I should write about living beneath your means during a pandemic. I was thinking about this in the teacher break room (my car)—in between, you know, supervising kindergarten, 2nd grade, and 5th grade—and I realized that I already have. I’ve already blogged about LBYM in a pandemic because LBYM in a pandemic is not all that different from normal, non-pandemic LBYM.
There do seem to be more mealtimes.
I’m ever so thankful I have living insurance and health insurance, and that I don’t care what brand of toilet paper we use. LBYM is what helps us meet the unknown, but not unexpected, financial and spiritual disruptions that all of us will face at one time or another. In my very first blog post, I wrote that LBYM is ultimately about being smart about our capacity. It’s why, even now, I get my sourdough bread FROM THE STORE. Pandemic impact – great
Always great to hear your perspective, Grace. Please keep them coming!
I’d totally forgotten about “living” insurance and so enjoyed re-reading about it. Like I said, great perspective. Now about that sourdough… so fun to make! You might find there are family-enjoyment/ entertainment/ keep-the-kids-occupied/ skill-building benefits of baking, over just the family-feeding benefits…?
I love your wit and always enjoy reading what you have to say. Your posts babe helped me be more realistic about what I should be doing with my money and for that I am thankful. Happy Mother’s Day! This year we really deserve all the praise we can get.