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and this
https://www.bbc.com/news/business-53407965 Big US banks set aside $28 bn in downturn warning.
I know there are areas of over 30% unemployment in our country. I know some that are unemployed are not longer being counted as they didn't qualify for it.SO I am willing to bet it's a lot higher.
I know that some banks are quietly closing credit cards and or lowering the amount you can charge. It's in the news and a couple friends already went through this.
I just read where Wells Fargo put some clients in forbearance of their mortgages without consent from the client and then reported it to the credit score companies... against the CARE act. https://www.nbcnews.com/business/personal-finance/more-wells-fargo-customers-say-bank-decided-pause-their-mortgage-n1234610
I understand the limits of things we having be dealing with... but when I walked into Mendards yesterday to get the household filters and cleaning products AND SHELVES are empty in a place that hasn't been empty in the first part of this pandemic. AND limits of disinfection products down to ONE per person. It was, a stop and think about this.
Hubby and I had already talked between trying to buy stuff as needed or stocking now (I usually start in Aug.) 6 months. We decided to stock for a full year. Money will be tight if the business doesn't stay stable (right now he is hauling farm equipment crops... animals). Taking the hit now financially, cutting other places as we see the prices going up, and inventory going down.
He asked for a list of what was needed to bring us up to a year's supply of everything except perishables. Six notebook sheets later with 2 having stuff on the back side... we sat down and went over it. I separated it out by over the counter medical, dogs medical, non food, household filters,booze , yes booze,extra for the cordial I will be making, food(evaporated and condensed milk etc , things I normally stock in the fall) and the veggies we don't have in the freezer.
Yes, I know how much of anything my home takes to run a year. I have tracked it for years. There as some differences in this home and during this pandemic I am using disinfectants not just cleaners. White vinegar does not touch this virus and bleach triggers problems with breathing (can't even be in the house when using it in the laundry)Lysol does, Mr Clean does, I have to watch what I use due to asthma and allergies.
Before my doctor appt about the MRI results of my knee (bad news articular cartage broke, good news the break is over 30 yrs old so no surgery, bad news it's catching when my knee is bent at a certain degree and my cerebral palsy doesn't let me catch my balance fast enough when it happens, good news back to cerebral palsy physical therapy AT HOME.) I stopped at Menards and used the last of our rebates. After my appt. I stopped at CVS in Sidney as it has a better selection of medical than here in Kenton. Then I went to Kroger's as that's the state liquor store and soda pop, club soda and hard cider for Hubby.
Then I went to our favorite pizza place and got a 16 inch take and bake and chef salad for dinner ...it's will make 2 dinners actually.
Hubby has been putting off getting new boots even though he needs them. I told him he had to get them now.
We took a hard hit during the storm that went through a couple days ago.... I probably would handle it better if we had gotten a decent rain instead of the .03 inch we got.
Hoop house that was going to be for fall and winter planting got ripped out of the ground , floated as a parachute (E saw it go and decided he should just keep himself and his boys in the equipment shed for a bit as hoop house was at the back of our barn he had a good view of it coming up), ended at the pond over 400 ft from where it was. The only thing that stopped in from going in the pond is the metal bar on the end hooked to the metal fence post for barb wire (keep horse out of the windmill) at the windmill. We were all thankful the horses were not in that pasture. Under deductible of our farm ins even adding to what got taken the last storm. Hubby looked to see if we ordered new how long it would take.. on back order until after end of Nov. Metal frame completely destroyed. Plastic has a few hole that can be patched with screen and flex seal.I told Hubby to let it dry out and then we would fold it up and store it. I would work on a design over the winter to build something next spring. Compare prices of ordering a new frame which might not work with the cover we got or building it.I might have enough scrap lumber to build with.
Are you reading/listening to the news or stocking for another down turn?
Posts
Actually have been thinking of reducing our presence in the stock market for some time. We are in our seventies. Went to the credit union yesterday to get help transferring it from Vanguard. They told me I had to call Vanguard directly. THis morning Vanguard told me that was incorrect, the credit union needed to contact them directly. So this morning I go back to the credit union for Round Two. Sigh!
ReplyDeleteI have mine acct set up for direct transfer at any time I want to my bank acct.They might need the bank to make the call to make sure someone isn't trying to steal your money.
DeleteWhat complicated everything was that I didn't want a distribution because it was a traditional IRA. I wanted an asset transfer and I was simply given incorrect information by the credit union. I asked how long the transfer might take and the CU said it could take a couple of weeks because Vanguard wasn't going to let go of $20,000 quickly. I was really angry at that because I DO know we live in the computer age and this could be down in around 2 1/2 minutes with the pressing of a couple of buttons. Sigh, there's always something going on that irritates you, huh?
Deleteours was 3 days... they have to wait 72 hr in case you change your mind (guess kind of like buying something on contract and then changing your mind)..then it took two days for us to get it due to OUR bank verifying it was a legal transaction. SIGH
DeleteWells Fargo is just playing the same game they have for years. They have screwed their customers over again and again. As for the rest of the gloom and doom, I would have to have better and more credible information than the news media to take it seriously.
ReplyDeletenot sure credible information is going to come from any source. My daughter used to work for Wells Fargo, she quit after a year, couldn't stand the company and it's ethics.
DeleteThankfully we took all our money in stocks and put it an annuity awhile back.
ReplyDeleteYes, I am quite concerned about a bad Covid wave and also about chaos I think could occur around the election, like protesting and celebrating both getting out of hand and shutting things down.
I’m trying to stock up and have a lot of stuff, but I don’t have as good a record system as you do.
Rhonda , if you shop a place like Krogers, check your loyalty card. It will show you what you buy. I kept receipts (and then complained about dealing with it) for 1 month each season.
DeleteI am going for two years in supplies. I may not get it all, but I am going to give it a good try.
ReplyDeleteI was starting to think 3 yrs.
DeleteWoW, your knee sounds in bad shape! I hope therapy gives it back to you.
ReplyDeleteIt is in bad shape. Doc was surprised it took this long for me to have issues with it.
DeleteI'm so sorry about your knee. Do hope that therapy helps. What a shame about the hoop house too.
ReplyDeleteI wish that I was as prepared as you are...but I'm hoping to get us to six months.
Thanks for sharing how you prepare. It helps me think of what I need to do. :)