Financial Survival Guide – Pandemic Edition

Wow. Has the world gone crazy or what?

Since the last time I wrote to you, the world has hurtled headlong into a pandemic brought on by the spread of COVID-19, aka “the coronavirus”; the US economy has experienced historic unemployment, entered a recession, and somehow seen the stock market recover its losses for the year; and the largest human rights movement in history has exploded onto the streets of major cities across the globe following the callous murder of George Floyd by police in Minneapolis.

a dog sitting in the middle of a house that is being consumed by flames and saying "this is fine."
2020 in a nutshell

Unity, equality, and inclusion are some of the founding principles of this blog. Part of my goal in publishing my writing here is to help uplift you. I firmly believe that we all have more opportunity than we realize. That there is a light at the end of the tunnel, much closer than we ever thought possible. That the journey there should be fun, and that we can learn things about ourselves and each other along the way. Our culture doesn’t teach us these things, and it doesn’t equip us with the tools to take advantage of these simple truths and the endless opportunities that exist right at our fingertips. My goal in writing to you is to empower you by sharing the tools and experiences that have helped me along the way, in the hopes that you can learn from my mistakes as well as my successes, to live a happier, freer life. And perhaps while we’re at it, I can provide some entertainment as well.

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How to Freeze Your Spending

spending freeze - a credit card frozen in a block of ice

As it has for many people, the pandemic/recession combo has caused some disruption to our financial life. Mrs. Wallet lost her job, our tenant has been unable to pay rent for months, and our mortgage company overpaid our property taxes by thousands of dollars and increased our escrow payments by ~$800/month at precisely the worst time possible. I’ll have to write about that last one more later in its own post! To add to the dumpster fire, we’ve also had some big unexpected expenses, such as dealing with termites (the kind the insurance doesn’t cover of course, because there are apparently different kinds). In total, our net income was reduced by over 55%. Cue for us to freak out, sell everything, and start living on the street and eating out of garbage bins, right?

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