This ties in to the coronavirus recession, but I wanted a thread specific to anecdotes on spending. I finally ran the numbers for my household, and our spending for the past month is down 42% from the average of the prior 3 months. Daycare is the single largest missing expense, but is well under half the shortfall. We are the anti-stimulus.
I'm worried about how quickly the economy can "get back to normal". Will I send my daughter to daycare on June 1, assuming they're open? Not sure. It may depend on when my employer requires me to transition back to my office desk. I'm seriously tempted to try to stick it out until August, when she starts public school. The rest of my spending won't pick up anytime soon either. No store I'll want to shop at. No place I'll want to go. No plane I'll want to board.
Meanwhile, businesses will cease to exist. Once they shut down the life support stops and revival becomes next to impossible...or maybe not. The 2 that I am supporting each week are miserably slow. I can't imagine being those entrepreneurs right now.
This is "the paradox of thrift". My financial statement is improving while the overall economy shrivels.
What about you? Are you reluctantly killing our GDP? When do you expect to spend what you used to?
Is anyone spending the same, or even more? Did you have to change what you consume to do so?
I'm worried about how quickly the economy can "get back to normal". Will I send my daughter to daycare on June 1, assuming they're open? Not sure. It may depend on when my employer requires me to transition back to my office desk. I'm seriously tempted to try to stick it out until August, when she starts public school. The rest of my spending won't pick up anytime soon either. No store I'll want to shop at. No place I'll want to go. No plane I'll want to board.
Meanwhile, businesses will cease to exist. Once they shut down the life support stops and revival becomes next to impossible...or maybe not. The 2 that I am supporting each week are miserably slow. I can't imagine being those entrepreneurs right now.
This is "the paradox of thrift". My financial statement is improving while the overall economy shrivels.
What about you? Are you reluctantly killing our GDP? When do you expect to spend what you used to?
Is anyone spending the same, or even more? Did you have to change what you consume to do so?