Loans/Leasing etc - Corona virus effects on your finances

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Posted 16th Mar
I know France has suspended mortgage/rent/utilities payments for the whole country.

But what about car loans, personal loans, leasing etc...are they going be as giving in the Uk do you think, this virus looks like it is going to destroy a lot of lives financially.
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It might be a well needed wake up call for all the people who live beyond their means and finance everything...

If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.
Edited by: "dcx_badass" 17th Mar
dcx_badass17/03/2020 00:06

It might be a well needed wake up call for all the people who live beyond …It might be a well needed wake up call for all the people who live beyond their means and finance everything...If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.


Don’t be silly , most people live month to month , I don’t know many people who have £1000s just sat there.
Edited by: "ashmac" 17th Mar
dcx_badass17/03/2020 00:06

It might be a well needed wake up call for all the people who live beyond …It might be a well needed wake up call for all the people who live beyond their means and finance everything...If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.


U are having a laugh aren't u? Wife and I on full time hours, working very hard, just about make ends meet every month.
Try Living in the real world.
23 Comments
Hope so because I’ve just got a loan about 5 minutes ago
They suspended it for businesses only.
Edited by: "Myriad" 16th Mar
It might be a well needed wake up call for all the people who live beyond their means and finance everything...

If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.
Edited by: "dcx_badass" 17th Mar
dcx_badass17/03/2020 00:06

If you don't have a 6+ month emergency fund you shouldn't be taking …If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.


If this outbreak is anything like Spanish Flu then we are talking about restrictions of some kind or another for 2 years.
dcx_badass17/03/2020 00:06

It might be a well needed wake up call for all the people who live beyond …It might be a well needed wake up call for all the people who live beyond their means and finance everything...If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.


Hopefully it will also make people learn how to cook as well rather than living on pre prepared stuff. It’s amazing seeing that pasta has been stripped off the shelves yet there is an abundance of flour and eggs left untouched with which you could make your own. Madness.
ArcadeAssassin17/03/2020 00:48

Hopefully it will also make people learn how to cook as well rather than …Hopefully it will also make people learn how to cook as well rather than living on pre prepared stuff. It’s amazing seeing that pasta has been stripped off the shelves yet there is an abundance of flour and eggs left untouched with which you could make your own. Madness.


That isn’t madness 🤦🏻
ArcadeAssassin17/03/2020 00:48

Hopefully it will also make people learn how to cook as well rather than …Hopefully it will also make people learn how to cook as well rather than living on pre prepared stuff. It’s amazing seeing that pasta has been stripped off the shelves yet there is an abundance of flour and eggs left untouched with which you could make your own. Madness.


Encouraging cooking from scratch?

Then Iceland (and its range of 5000 microwave meals) will go bust!

Although on a serious note, the push towards instant, microwave meals over the last 20 years was bound to have a downside.

I think in societies or cultures where cooking from scratch is seen as the absolute norm, there will be little panic at unavailability or stockpiling of pasta etc.

As long as they can get fresh items; eggs; flour; rice; pulses they'll be fine

I think the British just like to watch shows like Masterchef or Bake-off for the reality TV / tabloidy side of it rather than actually ever making the food. Its all about the gossip or sensational revelations of contestants on the shows!
Edited by: "Gollywood" 17th Mar
ArcadeAssassin17/03/2020 00:48

Hopefully it will also make people learn how to cook as well rather than …Hopefully it will also make people learn how to cook as well rather than living on pre prepared stuff. It’s amazing seeing that pasta has been stripped off the shelves yet there is an abundance of flour and eggs left untouched with which you could make your own. Madness.


There is a saying, “ life is too short to make pasta”

lol , I’m confused with that one now
Some annoucments today on finance but doubt they will make this one, some banks have said they may offer help.

In the US one former presidential candidate has suggested and supposedly has support to give everyone $1000 a month, bet he wouldnt have suggested that if he had become president.
dcx_badass17/03/2020 00:06

It might be a well needed wake up call for all the people who live beyond …It might be a well needed wake up call for all the people who live beyond their means and finance everything...If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.


Don’t be silly , most people live month to month , I don’t know many people who have £1000s just sat there.
Edited by: "ashmac" 17th Mar
dcx_badass17/03/2020 00:06

It might be a well needed wake up call for all the people who live beyond …It might be a well needed wake up call for all the people who live beyond their means and finance everything...If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.


U are having a laugh aren't u? Wife and I on full time hours, working very hard, just about make ends meet every month.
Try Living in the real world.
Rune_2H17/03/2020 01:42

Comment deleted


I’ve just got a loan out to get myself on the road as I am going for an interview and need transportation for the job
Big_Rik17/03/2020 11:34

U are having a laugh aren't u? Wife and I on full time hours, working very …U are having a laugh aren't u? Wife and I on full time hours, working very hard, just about make ends meet every month.Try Living in the real world.


Cool story, if you have cars, iphones etc on finance/contracts then it's completely self inflicted like I said, if you don't and live sensibly then it isn't and I've no issue with that.
dcx_badass17/03/2020 13:25

Cool story, if you have cars, iphones etc on finance/contracts then it's …Cool story, if you have cars, iphones etc on finance/contracts then it's completely self inflicted like I said, if you don't and live sensibly then it isn't and I've no issue with that.


Have u seen the price of rents recently for starters? People on the dole are better off.
Big_Rik17/03/2020 13:26

Have u seen the price of rents recently for starters? People on the dole …Have u seen the price of rents recently for starters? People on the dole are better off.


Ive not said anything about rent so I'm really not sure what you're issue is, half the people claiming they're struggling drive around in new lease cars with the latest iPhone. That's who will hopefully learn a lesson from this. People who genuinely struggle and try and live sensibly will unfortunately also be caught up in it. Given how personally you're taking this I presume you live beyond your means on finance.
Edited by: "dcx_badass" 17th Mar
dcx_badass17/03/2020 13:29

Ive not said anything about rent so I'm really not sure what you're issue …Ive not said anything about rent so I'm really not sure what you're issue is, half the people claiming they're struggling drive around in new lease cars with the latest iPhone. That's who will hopefully learn a lesson from this. People who genuinely struggle and try and live sensibly will unfortunately also be caught up in it. Given how personally you're taking this I presume you live beyond your means on finance.


It's when u said everyone should have a 6+ month emergency fund.
I wish.
Big_Rik17/03/2020 13:31

It's when u said everyone should have a 6+ month emergency fund.I wish.


I appreciate that, but in the same sentence I continued about you shouldn't be taking things on finance. I work with plenty who whine about having no money, will never be able to afford a house yet are driving around in new cars.
The UK government will never go as far as any of the surroundings countries . You'll be lucky if I get Ur SSP .
dcx_badass17/03/2020 00:06

It might be a well needed wake up call for all the people who live beyond …It might be a well needed wake up call for all the people who live beyond their means and finance everything...If you don't have a 6+ month emergency fund you shouldn't be taking anything on finance.


I keep extra money to one side for bills "just in case" but 6 month is taking the biscuit. Depending on your financial situation I suppose but I wouldn't have that much money just sitting there for "emergencies" I could buy a brand new car with 6 months worth
MonkeyMan9017/03/2020 16:32

I keep extra money to one side for bills "just in case" but 6 month is …I keep extra money to one side for bills "just in case" but 6 month is taking the biscuit. Depending on your financial situation I suppose but I wouldn't have that much money just sitting there for "emergencies" I could buy a brand new car with 6 months worth


It doesn't necessarily have to be 6 months wage, but 6 months living costs and it could be 6 months survivable so possibly a lower standard of life than you currently have that's doable. It all depends on your level of risk and some people may reevaluate it after what is coming. I personally can manage 6 months if I lower my expectations a bit and I try to maintain that level now and then once I've got that I'll look at other things like cars etc. if needed.

I've seen people's fortunes change and what a loss of a job or income to do so that's made me cautious.
Edited by: "dcx_badass" 17th Mar
ArcadeAssassin17/03/2020 00:48

Hopefully it will also make people learn how to cook as well rather than …Hopefully it will also make people learn how to cook as well rather than living on pre prepared stuff. It’s amazing seeing that pasta has been stripped off the shelves yet there is an abundance of flour and eggs left untouched with which you could make your own. Madness.


+1 Saw this yesterday at my local supermarket. Too busy watching Netflix LOL
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