Dealing with the Coronavirus. Personal Reflection APR 2020

impact of the coronavirus

April is already more than half over.  It’s still cold here however, as it’s going down into the mid 20’s tonight.  So, Spring has not sprung just yet.  I have managed to cut my grass for the first time, and I cleaned out my mulch beds.  More work to come once it finally warms up.  The world is still paralyzed by the Coronavirus pandemic, but I am still working, and my investments have recovered a lot of the losses that they suffered in March.

My finances haven’t changed much since my last update, so I’m going to give a brief rundown of some of the brainstorming that I’ve been doing in case of a worst-case scenario for my personal finances and life.

Lenders

As you may know, I’ve been posting my various debts for over a year.  In light of the current environment I’ve been busy compiling the contact names and phone numbers for my various lenders in case I run into a scenario where I can’t pay.  Are any of my lenders offering relief or forbearance?  Do any programs or options exist should I run into trouble?  This is all preliminary, so I don’t know what options are out there, but if you are carrying debt, then now is a good time to start making some phone calls.  Get a plan in place in case things go south for you.  I’ll post any information that I find out in a future update.

Utilities and Services

I’m also putting together a list of contact information for my various utilities and cable/internet for the same reasons as above.  Can a bill be skipped or reduced?  Can I cancel a service without penalty?  Are any discounts currently available?  (healthcare workers are currently eligible for a wide range of discounts on certain products and services.)  Is my car and home insurance offering any discounts?  Again, get this information together now in case something happens in the near future.

Credit Cards

I thankfully do not have any credit card debt, but a lot of people do.  Fortunately, most credit card providers are offering some form of relief to cardholders.  Here is a link to an article that I recently wrote on this very subject: Coronavirus Credit Card Relief Programs

Personal Budget

If you don’t have a budget, get one.  If you already have a budget, then here is how to manage the budget during quarantine.  Can anything be cut or trimmed?  There are always ways to improve your budget, cut some spending, or even boost income in some way.

Occupying Myself

Other than doing some disaster planning I’ve been keeping myself busy around the house with a few quarantine and budget friendly projects.  Here is a quick rundown.

Mulch bed clean up:   Cost was zero on this one.  All it took was a few basic hand tools and a few hours of my time.

Decluttering:  Again, zero cost here.  It was simply a matter of spending some time in the basement.

Garden prep:  It’s almost planting season, so the garden will need tilled soon.  I was doing some minor fence repair and turning my compost pile.  No cost to this one.

Grass cutting:  Cost was $8 to top my gas can off.  Time invested was around two hours.

Front porch prep:  The front porch needs painted.  Cost was $23 for a gallon of paint.  I still need to scrape the old paint away, but I’m waiting for some warmer weather.

Firewood:  I cut up and split two truck loads of firewood for our camp.  This cost me about a gallon of gasoline and a few evenings of my time.

So that’s my project list so far this spring.  What are you doing to keep yourself both busy and socially distanced?  Let me know in the comments below.  Also, if you are doing some disaster planning what have you found out from your various lenders and service providers?  See you next time.

See Also:

Personal Financial Update, April 2020

Coronavirus Serves as a Positive Test for Investors

Coronavirus: A Brief Update on its Impact on my Life

What Happens If You Don’t Pay Your Taxes?: A Complete Guide

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