Since Doug works at a company that manufactures a healthcare product he was receiving information about coronavirus ahead of most. We took the threat seriously and prepared for to be quaratined for two weeks. As a CFO Doug also warned me that with social distancing and declaring some businesses non-essential, the economy would take a hit as well. He felt that even though some companies would remain open, most would still have to make cost cutting measures as well. Thus, I wasn't surprised when Doug confirmed today that we would lose quite a bit of income over the next three months. That news along with the Edward Jones statement that arrrived in the mail today left for a depressing afternoon.
As the extra income pays directly for all of the Heinisch children's tuition, I started to look at the budget to see what we could cut or change so that we could still cover those expenses. I explained to everyone that we would need to really monitor our spending over the next few months and they were all on board. Thankfully, Brett has remained working and doesn't need anything from us right now. Cal will be doing likewise this fall which will help especially if the quaratine lasts longer than April 30th. Overall, we realize that we are in a better situation to handle this economic crisis than the one in 2008. We also feel extremely fortunate that Doug has retained his job when over 6,000,000 others filed for unemployment this past month. Most of all we are thankful for our health. That's the most important thing to us right now. Everything else will take work its self out eventually.
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