Wed 29 Apr 2009
Posted by Todd under decisions, emotions
[9] Comments

Who needs money when you look this cool?
We knew what we were getting into was going to be a challenge. Seattle is one of the most expensive cities in which to live in the U.S., and while I make a fairly good living, it’s still pretty firmly in the middle-class range. Trying to support a family of 3 (or more, someday) and pay a mortgage, all on a single-income – it wasn’t going to be easy.
We did all the calculations, though, and as long as we continued to live a pretty frugal lifestyle – eating at home, borrowing movies from the library, riding the bus to work – it looked like everything would work. We’d be starting with a healthy cushion which we’d have to dig into a bit, but as my earning potential continued to rise, we’d get back into the positive fairly quickly:
Insert: Simple Line Graph, with the y axis labeled “net worth” and the x axis labeled “time.” The line starts at a pleasingly high point on the y axis, dipping slightly before starting to rise again in a jaunty manner. The overall effect is not unlike a lazy summer smile.
Then things got a little more complicated. We found out that our path to becoming a family was going to involve a lot more people than just the two of us and an obstetrician. As some of the institutions helping facilitate that process require compensation, we were also going to be starting with a much smaller cushion than expected, as well.
We did the calculations and projections again, and with some much-needed assistance from our families, it looked like we’d just be able to pull it off. It was going to be tight – very tight – but we could tighten our belt a notch or two further, Betsy might be able to put in a few hours here and there working from home for the farm, and I had a good job with a strong company with reasonable salary increases on the horizon. If push came to shove, we just sell our house and go back to apartment living for a year or two.
Insert: Graph #2. This line starts at lower altitude than the first, and immediately swoops down rapidly in a dizzying dive. The line skitters and screeches across the bottom, throwing off sparks and smoke, before being wrestled back up by the heroic crew. The line, a little battered and beaten but flying steady, exits the right side of the graph at a reasonable level.
Then as the process unfolded, expenses from the agency came in ways that we weren’t anticipated. Dings here and there to the pocketbook that started to add up quickly. The starting cushion was deflating at an alarming pace.
And then the economy crashed, and suddenly, “the reasonable salary increases on the horizon” that I had been expecting started slipping further and further over the horizon and out of sight. Layoffs were happening all around me and the valuable marketable skills I was developing became just another commodity in a buyer’s market. Finally, my company announced that they were instituting salary cuts across the board for all of the employees still left standing.
Insert: Graph #3 – the line is floating low, just above the rooftops of the city below, when it gets snagged against a radio tower and OH THE HUMANITY
So, we’re at a point right now where we’re looking at our options. Terms like mortgage adjustments, short sale, and other such fine instruments of financial torture are being tossed around pretty regularly and we’re doing a lot of research into our options. We’re continually looking at ways to shave a few dollars off of our monthly spending, but at this point, any further cuts would be no longer cutting off fat but shaving pretty near the bone. If we seem a bit frazzled now and then over the next few months, this’ll be why.
But the one thought I keep returning to is this: nothing truly valuable is at risk. We will always be well-fed, we will remain warm and dry and sheltered, and we will all remain deeply in love with each other, and have the love and support of our families. We might end up losing some of the investment we’ve made in this particular piece of real estate, and I might not have this particular piece of land to have backyard grilling sessions on, but we’ll always have each other, and we’ll make our way in the world in the best way we know how.









