For the last many months there has been a running total for a "debt kitty" on the right of the home page.
It would appear that the goal will soon be reached, if it hasn't already.
Maybe you should then start amassing a strategic reserve of $30,000.
It's time for you to create a perpetuation plan. The first step in such a plan would be adequate liquidity.
You could keep your "kitty" theme by calling it a "cat" fund (catastrophe).
Jill
Comments
A great idea
but in these strange times and with so many people being laid off/furloughed money will be very tight for a lot of regulars here.
It would be great to build up a reserve but I think that we all will have to do some belt tightening for the foreesable future.
Samantha
Well sure
Sure, assuming they want to pay it off. But the debt is supposedly manageable. What if some member generously offers to pay it off and then some BC staff gets some unexpected expense or another and needs money I bet the debt will come back in a heartbeat. There is a bit of gofundme going on but I bet it is cheaper to do it this way then to do a real gofundme. This reminds me of charities (not that BC is a charity) where we don’t know how much goes to staff and how much goes into the service provided. The site needs what it needs.
In any case, the money thing can only get worse due to covid. I can still work (at a certain amount of risk to me and my partner who are in their fifties and sixties) due to working in critical infrastructure but that can’t be said for all. I don’t have the luxury of working from home either but fortunately it looks like BC staff can.
SBA Loans
If you're a small business in the United States Uncle Sugar is offering a forgivable loan based on approximately 20.8% of your annual payroll.
For a business like mine, this allows me to keep my employees on full-time despite them not being able to be fully productive.
If your employer isn't taking advantage of this they should have their heads examined. If they're crazy, you should move to another job.
My spouse and I are each getting nice checks as individuals from that same Uncle Sugar. We've already donated $500 to our local food bank and will probably double that once the checks arrive.
Our government has screwed up the covid 19 response something horrible but the package they've put together is quite amazing.
Covid 19 is a bitch. I absolutely hate what it's done but it doesn't do any good to over-state it's economic impact at this stage.
Jill
Angela Rasch (Jill M I)
Payroll is the question
I'm not sure there is a payroll here. Erin and Piper aren't really drawing a paycheck I don't believe. They just take enough to handle the emergencies. They aren't exactly employees. More like owners/creditors. The site would have to pay them back all the money they have plowed into it before they could think about paychecks.
“When a clown moves into a palace, he doesn’t become a king. The palace becomes a circus.” - Turkish Proverb