Are YOU better off now than you were before COVID-19?

[+ Vegas_Millennial]

2 hours ago, marylander1940 said:

It's official: gay men (single or married) know how to handle their money!

Or, at least, gay men who pay for sex or who are paid for sex know how to handle their money!

Men who know and appreciate the value of these encounters, both clients and providers, are likely to have a well-rounded perspective of money, life enjoyment, and balance between instant pleasure and long-term security.

[Boaxxx]

I may be better off financially but I don't feel better off. Yes, my 401k and other investments have finally surpassed pre-pandemic levels but the cost of everything keeps going up but not much of a change in my income lately. I'm very focused on saving for retirement and other unexpected expenses which has eaten into my non-discretionary spending. Clearly as I get older I've become more frugal.

[marylander1940]

America’s pandemic savings are running out

WWW.ECONOMIST.COM

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What will that mean for the economy?

 

[Monarchy79]

I’m much better off now. During COVID, I saved tons of money though not being able to travel, dine out, and lost the need to buy clothing, shoes, accessories for such entertainment. Then I received some work bonuses. Maximized my annual retirement contributions, and padded an IRA. 

Then with the idle time, I started playing around with penny stocks and cryptocurrencies and made some extra money off of those (yes, Dogecoin and Shiba Inu Coin), and purchased some Bonds too. 

I just saved and grew money. 
And once I came back into the “real” world, post-COVID, I maintained some of the habits and have been good ever since. 
 

I also started doing more things for myself at home:

1.) No more facials…. I bought a

microdermabrasion wand, a facial steamer, and an LED mask and can do that at home, with the same effect.

2.) Manicures, pedicures, and any other grooming treatment? I have the tools and do it myself now. 
 

3.) I don’t even get my shirts laundered anymore. I bought a steam press machine and do that at home too. 
 

That saves me hundreds of dollars monthly. 

Edited March 12 by Monarchy79

[+ BenjaminNicholas]

Yep.

I heavily monetized vacation properties during lockdown, leading me to buy additional homes (to rent).

Mexico City, Key West, Galveston, Port Aransas and Puerto Vallarta...  All on airbnb/vrbo.

Haven't touched my portfolio otherwise and it's rebounded from any dip.

 

[Welshman]

Yes, if only through disappointing circumstances.

Before the first lockdown in the UK, I was only getting Carer's Allowance (£64 / $81) a week for being a carer for my grandparents, from which a total of £35 / $44 was taken away for food shopping and state taxes

Now, I am on my own (both grandparents having died from Covid in health locations) and getting the higher level of Universal Credit and Personal Independence Payments (£1,658 / $2,099) on account of being diagnosed with ASD, from which £80 / $101 is taken for food shopping, £106 / $134 for streaming services, £19 / $24 in mobile costs and £150 / $190 in energy bills but with no state taxes to pay.

[mike carey]

1 minute ago, Welshman said:

Yes, if only through disappointing circumstances.

Before the first lockdown in the UK, I was only getting Carer's Allowance (£64 / $81) a week for being a carer for my grandparents, from which a total of £35 / $44 was taken away for food shopping and state taxes

Now, I am on my own (both grandparents having died from Covid in health locations) and getting the higher level of Universal Credit and Personal Independence Payments (£1,658 / $2,099) on account of being diagnosed with ASD, from which £80 / $101 is taken for food shopping, £106 / $134 for streaming services, £19 / $24 in mobile costs and £150 / $190 in energy bills but with no state taxes to pay.

State taxes? In the UK? I'm curious.

[Welshman]

6 minutes ago, mike carey said:

State taxes? In the UK? I'm curious.

In the United Kingdom there are two main aspects of taxation, there is taxation levied by the government (income tax, value added tax, national insurance) and then there is a tax levied by the various local councils in the United Kingdom called "council tax" which is what I meant by state taxes to make the concept easier to understand.

Each council is allowed to charge a certain amount based on the value of a home, all homes are banded from the lowest (around $50,600) to the highest (around $404,900) which pay a sliding slide from 6/9ths of the average cost to 24/9ths. The reason I do not pay council tax is because as all my monthy income is welfare it is not classed as income, therefore I fall below the threahold of payment.