A Week to Remember: Checking In

Wow, what a whirlwind of a week! How have you been holding up? I genuinely want to know! I hope you're managing well during these unprecedented times. Jonny, our daughter, and I are hanging in there, navigating our way through. Remember to take care of yourself—I’m just a message away if you need someone to talk to. I've always been here for you. In New Zealand, we tend to bottle up our financial worries, but it's crucial to spill them out sometimes. If it helps, jot down your concerns and send them my way. I’m here to support you through this. I've noticed that many who’ve never experienced job loss are now facing it, which can be a huge shock.

Reaching Out for Support

What challenges are you grappling with right now that I could assist you with? I’m not a financial expert, but I can share some practical advice based on my current circumstances. If we keep our focus on what’s within our control amid the chaos, we’ll find some solace. I’m naturally an optimist! Luckily, both Jonny and I are seasoned remote workers, he for seven years now, and we're well-equipped for this situation. Our blog will continue to run smoothly, and I might even tackle that podcast series I’ve been promising. And don’t worry, I won’t overwhelm you with too much info—there’s already enough noise out there!

Keeping Busy and Helping Others

With Jonny’s design work quiet for the moment and my part-time job on pause, we’ve managed to get our daughter fully set up for remote schooling. Thankfully, just two months ago, we created a special study space for her, completely unaware of how useful it would become! A massive shoutout to all the teachers in New Zealand—thank you for your hard work during this period! To keep spirits high, we’ve planned a fun-filled daily calendar. So far, I’ve dominated a spelling bee showdown (without the help of Grammarly!), led a family yoga session (which they didn’t love), and encouraged our daughter to bake some delicious treats. Today, we’re diving into a game of Task Master!

In the Community Spirit

We’re also making sure to help our elderly neighbors with their shopping from a safe distance. I’ve been keeping the banter alive with my colleagues through messenger chats, reminding them that even though this is virtual, the camaraderie continues! Yet, I have yet to reveal my blog about personal finance; they haven't shown interest in that topic before, and I doubt they would now. It’s surreal to witness all of this unfold around us.

Documenting the Financial Landscape

So, what’s the financial situation looking like? I thought I’d keep a diary this week to document how we’re preparing for the months ahead. First and foremost, regardless of your job stability, the golden rule to remember is: Always spend less than you earn. I’m taking this to heart and have adjusted our budget to reflect our new reality—our weekly income is around $600, with both of us qualifying for a $350 wage supplement (which is taxed). Regardless of whether you’re facing income loss or not, it’s time to tighten the purse strings, face your situation boldly, and avoid burying your head in the sand.

A Week of Financial Reflection

On Monday, the stock market opened significantly lower than its remarkable high of February. I caught the historic announcement from Jacinda Ardern about moving to Level 4 lockdown, which was a pivotal moment for everyone. I hurried to assist at work to help prepare for the impending closure. This week had promised a full-time schedule for me, but things have taken a turn. Now, both Jonny and I find ourselves temporarily out of work.

Keen Insights into Investments

Once settled back at home, I reviewed our KiwiSaver accounts, which had dipped but weren’t as grim as I feared. Although we’re down 17%, that’s about $25,000, I’m making no changes to my plan; I’m sticking with it for the long-haul. No point panicking when it comes to investments! During our family meeting, led by our 12-year-old, we emphasized the importance of discussing our worries openly.

Taking Practical Steps Forward

Every passing day this week found me back at work, nevertheless, strategizing how to keep things running efficiently. I pushed for our employer to apply for wage relief—a step that has now assured income for us and the other staff members. As I reviewed March’s expenses, I discovered that while we previously spent $116 daily, we’ve trimmed it down to $84. That’s a significant saving of $960 over a month, showing that living below our means is critical right now.

Making Smart Investment Decisions

On Wednesday, I cautiously adjusted my investments, seizing the opportunity to buy shares when prices dipped. Our focus has centered on dollar-cost averaging—monthly investments are the name of the game, regardless of market fluctuations. Even in these uncertain times, I remain optimistic. Meanwhile, Jonny received approval for his wage subsidy, a great relief for our household finances!

Solidifying Financial Plans

As our lockdown began on Thursday, I reminded myself of the long-term strategies we had established. The current market situation isn’t about quick gains; it’s about meticulous planning, budgeting, and maintaining our regular investment habits. Our daily finances continue on autopilot, with allocations to various accounts, from insurance to future trips. Ironically, fuel prices are plummeting just when no one is driving!

Wrapping Up the Week

By Friday, the markets faced staggering falls, yet my confidence in our investment strategy remains strong. Sure, certain sectors are suffering, but others are thriving. My focus is clear: keep to the plan. My spending has ceased; I’ve shelved my purse for the month. As I reviewed my net worth on Saturday, I found ourselves down compared to February—but still ahead of where we were a year ago. That, during this tumultuous time, is a win in my book!

Final Thoughts and Encouragement

Sunday capped off a whirlwind week, and I find myself both grateful and anxious for those around me. We've adjusted our daughter's allowance as a teaching moment, and our lockdown activities are keeping us entertained. Through this all, I pedal on with my running streak, noticing more people out and about. I genuinely hope everyone emerges from this fit and healthy!

As we navigate the uncertainties of this crisis, I’m hopeful it serves as a wake-up call for many regarding financial preparedness. Remember, I’m here for you. If you need to talk or need help, don’t hesitate to reach out. Thank you for reading—let’s stay safe, budget wisely, and thrive together!