Just got news that I'm going to be furloughed for 12 days and I'm calm

I work for a university and I just found out I will be furloughed for 12 days this summer.  I've been lucky so far to not have any loss of income at my day job because of Corona, although my Airbnb income has dried up.  But I just got the news about the furlough and it's not good, but I'm not worried!  I feel lucky if I just have 12 days of furloughing to deal with.  I almost have a 3 month emergency fund so I will be ok.  I have stopped making progress on my debt, but if worse comes to worse I can make minimum payments and pay it off in a few years, but hopefully once the emergency fund and furlough are done, I can start making extra payments again.  All in all, YNAB just saved me from what would have been a total freakout before I started budgeting.

Thanks YNAB!

6replies Oldest first
  • Oldest first
  • Newest first
  • Active threads
  • Popular
  • It is a great feeling, isn’t it. Enjoy the additional time off as much as you can!

    Like 1
  • I'm sorry to hear you have to go through this at all, but it's great to hear you're prepared and calm! The anxiety and worry that usually accompanies situations like this only makes things worse, and I'm glad you get to skip those parts! I'd try to think of the furlough as a short staycation and maybe tackle a few craft projects. :)

    Like 1
  • PhysicsGal said:
    Thanks YNAB!

    You did this! Created a safety net for when life happens. Yay for you. I didn’t even know the word “furlough “ before all of this except in the context of the military. Now it’s the word of the year.  

    Like 2
      • PhysicsGal
      • Nerdy female homo sapien
      • physicsgal
      • 4 mths ago
      • Reported - view

      MXMOM Aw, thanks!  That's true.  I'm just grateful I only have a 12 day furlough coming, it's really not so bad considering the situation in the world now.

      Like
  • Yes, YNAB lets us keep calm! Sorry for the hiccup but sounds like you have a great plan, good luck navigating it all! Also want to thank you for a point you made elsewhere that one month's income, or the total of all monthly goals, is MORE THAN one month's expenses. Instead of aiming for a 6 month income replacement fund I'll aim to build an emergency fund that covers 6 months of average expenses, MUCH more manageable!

    Like 1
      • PhysicsGal
      • Nerdy female homo sapien
      • physicsgal
      • 4 mths ago
      • 1
      • Reported - view

      Owlette Sweet, no problem!  I felt a lot less overwhelmed with building my emergency fund when I realized that.  One thing that helped is I made a new budget in YNAB that I call my "Emergency Barebones Budget" for what I would need to pay for if I lost my job or had another major emergency.  I cut out most of eating out except a small amount for job search coffee meetings and cut out most other discretionary spending.  I added what my employer says Cobra would cost me to it, which did make it higher than it was before.  Cobra is more than the cheapest plan on the exchange in my state, so I may end up doing that if I were to lose my job, but I wanted to know I could afford to pay for my same healthcare plan for 6 months.

      Like 1
Like10 Follow
  • 10 Likes
  • 4 mths agoLast active
  • 6Replies
  • 171Views
  • 5 Following