Nest egg
Since March my income has been reduced due to pandemic pressures the company has felt. I'm not sure how much pressure they've actually been under suspecting that it was a reason to simply pay me, and the rest of the staff, less.
The Australian government has been giving businesses $3,000 per employee, per month, to subsidise wages however many, many businesses have simply reduced their employee's income to that level, or close to it, almost negating the out of pocket expense of remuneration; Less money for the employee, more for the business.
This week we were all advised that as of the end of September all previous contracts and agreements will be reinstated. That means pay will go back to normal levels and I'll go back to a five day week. After six months of having a reduced income, and my wife's being reduced also, we are pretty pleased.
As with many in Australia, and around the world, Faith and I have had to make changes to account for a lesser income and, whilst we've had some reasonably lean times, we've made it work. It helps that we have a need over want ethos usually anyway, so don't waste too much money. It's been difficult, but we made it work.
So, my salary is going back to pre-pandemic levels and will mean a little extra in the pocket at the end of each month and we've been discussing what that means to us.
Today we did the sums and amended our spreadsheet which was cut down back in March in a bid to accommodate that drop in pay. The thing is though, that rather than simply go back to normal Faith and I have decided to continue in the same way we have over the last six months which will leave us with a surplus amount to save or invest. A nest egg of sorts.
Our logic behind the decision is that we both feel the world hasn't begun to feel the true financial effect of the pandemic situation and that tough times are on the way. I think it's a brave person who simply conducts life the same way they did in the pre-pandemic environment; There are so many moving parts to the global financial situation and it's not simply about one's income being at normal levels. It's a complicated beast. Having said that, there's plenty of people out there saying I haven't been effected...Ok...Let's see how that goes for them.
Faith and I rarely go without anything we need, and considering we tend to find enjoyment and satisfaction from things that are of a less material nature we feel that our lives are quite comfortable. We certainly believe we have the ability to continue our amended-life with the benefit being a growing nest egg of additional funds that we haven't had for six months. We'd rather have a little squirrelled away and not need it, then not have it when we really need it.
We're not sure what we'll do with the extra yet: Gold, silver, crypto, cash, pay down on a loan, superannuation. We're meeting with our accountant tomorrow to sign our tax returns so we'll have a chat and see what's available.
What we do know though is that having my income back to normal levels doesn't mean happy days are here again and it isn't a green light to spend. We're looking at it all objectively to put us in a position to do the best thing for us now and into the future. It's a time for responsibility we feel.
I hope y'all have been coping well throughout the pandemic, and that it all simply clears up and goes away...But that's unlikely and unrealistic. My hope is that you're all looking at your situation, planning ahead and mitigating risk where possible.
Design and create your ideal life, don't live it by default - Tomorrow isn't promised.
Be well Discord: galenkp#9209
I took this image in a bush in my front yard. I was so eager to see these eggs hatch and was going to do a whole post on their journey...But they were eventually abandoned, I don't know why, and will never hatch. I'm a bit bummed out about it to be honest. Poor little things.