Forced frugality

Posted on | March 10, 2009 | 18 Comments

Phew.

::looks around::

::dusts self off::

So life chez Ferry is full of shifts and changes and the requisite stress and low-grade depression that tends to accompany such shifts and changes. It’s difficult to carve out the mental space for doing fun things like writing blog posts or novel chapters or essays to try to sell.

The economic downturn has hit the family business hard over the past six months, and it’s huge pay cut time for everyone, starting this week. Hopefully I’ll be able to get more work and am meeting with a client today to talk about several large projects that should take me through the rest of this year with the hours originally promised. That will help make up the difference.

::crosses fingers::

So I’m finally entering all of our financials into an accounting application so I can get my arms around it and see in real numbers every day just where we are. It turns out it’s hard to set goals (for saving, for increasing earnings, for paying down debt, for budgeting) when you have no idea ~~how little~~ how much you’re really working with. I am also working diligently, moment by moment, to swim away from the sucking, spiraling funnel of fear in the middle of the my pool. To not give it the energy. Visualize our being OK. Think positive and all that shit. Or maybe it’s more accurate to say I’m trying to not think at all. Yes. To see the swirling beast of fear as it arises in front of me and to swim away to calmer waters.

Anyway, I flogged that bad metaphor enough for one day.

Spring is pushing her way up through the crusty earth, so there is that. Chris cleaned up the seed starting area in the basement for me on Sunday, and I’m placing my seed order when I get home from work today, and will start a few flats on the weekend.

I wonder, are people buying things on ebay and half.com these days? I have so much shit to liquidate it’s insane. I look at the situation we’re in right now and I wonder why we didn’t correct our spending/saving habits years ago? Did we really think it would all go along smoothly forever? Grow, spend more. Grow, spend more. What, save? What, avoid debt? Now the credit card that we’ve used for online purchases is close to maxed (not a huge limit, but still) and they recently put our APR up from 14.9% to 23.9% because they can, even though we’ve never missed a payment and never fully maxed it out.

I feel the walls inching closer and closer. Two mortgages — yes one rented thank goodness, but only half the payment is covered, and with the banking industry collapsing in a pile of flaming turds who knows if the family will be able to get their own financing in 18 months as planned. A new car loan, only a year and half in. About $4K in credit card debt which includes one closed account with low APR, and a Sears appliance emergency card that will likely get worked again here shortly because my oven is dead. Hard to save money by cooking all food at home without an oven.

So I’m looking at this squeeze that’s happening right now (rightly) as the culmination of a whole lot of years of small choices. It’s no longer a matter of choice to make small gestures towards a more frugal and fiscally responsible life. We’ve hit the imperative wall. It’s time for the 180. It’s funny, I’ve wondered what to write about here for such a long time because nothing has felt fresh and new or worth the time. Not much has held my interest because I felt like I’ve covered it already. Well, I think life just dumped a whole new load of material in my lap.

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Category: Education, Money, Work

Comments

18 Responses to “Forced frugality”

El
March 10th, 2009 @ 7:08 am

Aw, Kelly. Repeat after me: It’s just money.

I think most fear is simply fear of the unknown. Frugality ain’t so bad and actually gets to be kind of fun once you really do need to buy something: it is such a treat then. But yeah, for most folks now, there’s a bit of monetary reckoning going on. I think that’s okay, as new skill-sets will be brought to the fore. And yeah living on the credit cards is easier than living with what you actually make…so lots of what we’re seeing is that contraction, back to the actual earnings, but unfortunately that little contraction is shrinking our earnings too. Sigh.

Damn what a downer, sorry. Throw us a recipe already!

[Reply]
Cat B
March 10th, 2009 @ 8:57 am

Hang in there, dear friend! Some of us have been through this before. Not easy but good things will come. BTW you can transfer your debt from the high interest credit card to a lower interest one or call the card company and negotiate it the interest down. You can even negotiate the amount down sometimes. They’d rather have your money than think you’re going to declare bankruptcy. And if you do have stuff to liquidate head on over to eBay. People are still buying. Have to say the simple frugal life isn’t so bad.

[Reply]
debra
March 10th, 2009 @ 9:48 am

When my kids were little, I would know that they were in for a growth spurt when they would stumble, struggle and fall. It feels like this to me. So we hang in together, knowing in our heart of hearts that we will be ok.
xox

[Reply]
Forced frugality
March 10th, 2009 @ 9:57 am

[...] Random Feed wrote an interesting post today onHere’s a quick excerptPhew. ::looks around:: ::dusts self off:: So life chez Ferry is full of shifts and changes and the requisite stress and low-grade depression that tends to accompany such shifts and changes. It’s difficult to carve out the mental space for doing fun things like writing blog posts or novel chapters or essays to try to sell. The economic downturn has hit the family business hard over the past six months, and it’s huge pay cut time for everyone, starting this week. Hopefully I’ll be able [...]
Charlotte
March 10th, 2009 @ 11:41 am

In the same boat — staring down the dark tunnel of potential layoffs, how did I let the credit card get so out of hand? On the one hand I keep seeing opportunities in this recession, and then when I contemplate trying to live off of what little freelance work I can drum up, I freak out. Overall, I think it’s an opportunity for us to reinvent things, but reinvention can be terrifying (and I really really can’t afford to lose my job yet). I mean, I don’t think I can survive selling tomato seedlings at the Farmer’s Market …

[Reply]
dawn
March 10th, 2009 @ 11:52 am

Would it be worth it to come down here to the Habitat for Humanity resale shop? There’s one in Delaware, too (I hear it’s better than ours). Cheap ovens!! My friend just got a new oven/microwave combo (the kind that fit into an oven/microwave space) for $150. (And it has a convection switch, too.) I think she had to compromise on color (it’s black).

[Reply]
Kelly
March 10th, 2009 @ 1:51 pm

Thanks El, I’m just wrangling with the knowledge that what I thought was frugal before was lap of luxury and feeling like a bit of a tool for it.

Recipe? Wouldn’t that entail cooking something of interest? I’ll have to put some energy into that one soon.

[Reply]
Kelly
March 10th, 2009 @ 1:51 pm

Thanks Cat…do need to make that call! xo

[Reply]
Kelly
March 10th, 2009 @ 1:52 pm

Debra, I was telling Chris just that thing… he’s not buying it just now though. Poor guy.

[Reply]
Kelly
March 10th, 2009 @ 1:54 pm

Charlotte, that’s so true. It’s especially terrifying for my husband who has his name on a lot of collateral debt for the shop. Twenty years in and still not solvent, so maybe it really is time to rethink the whole game. I’ll be selling seedlings too, and yeah. It’s NOT a living!

[Reply]
Kathy
March 11th, 2009 @ 12:38 am

Well, I feel the heavy feeling of bricks stacking on my chest and I can’t afford the damn yoga class to get them off! But we are in a major crackdown here with spending. We’ve let things get a bit out of control too. Not out of hand really but not comfortable either. Yet so much of what I want/need? to do around here for self sufficiency and cost cutting actually costs money to get started…chickens/coop/more gardens/fencing to keep the animals out, canning supplies, etc. This is when I have to remind myself to breathe. I’ve had this whole turn of events on my mind for months now, blogging a little here and there about it and I find encouragement reading how others are on similar paths. Perhaps we can all encourage each other along the way.

[Reply]
Kelly
March 11th, 2009 @ 1:15 pm

Kathy, it’s funny…I’ve been feeling so disenchanted with blogging, and it’s good to remember what a wonderful feeling of community it can provide. We really can support and encourage one another as we figure out the new paradigm. And you’re right, it does take money up front to do a lot of these gestures towards sustainability…but sometimes it’s possible to find supplies for free! I think we all need to learn to be a little more resourceful and patient. Well, I think *I* need to learn — I know a lot of you are light years ahead of me on that count.

[Reply]
Kathie
March 11th, 2009 @ 2:35 pm

Sending love your way. For me, I have to focus on what I can do, because if I start thinking about the whole of the economy and all the “what ifs” its positively frightening. But when I do what you’re doing – just getting on with my life and putting one foot in front of the other, somehow I get a sense of power and its amazing where that can take a person…

[Reply]
kelly
March 11th, 2009 @ 5:53 pm

I fear this economy breathing down my neck every single day. I’ll find out in two weeks if I have a job. I’m terrified. Just another reason for us both to become famous authors.

Listen, I just wanted you to know you are not alone. I’m here. Anything you need, just call.

[Reply]
Kathy
March 11th, 2009 @ 7:55 pm

You’re so right and I am right behind you in that line-up of needing to learn to be a little more resourceful and patient

[Reply]
Kelly
March 12th, 2009 @ 2:49 pm

Kathie, your words carry much wisdom… staying present and in action in our own little lives is so much more important than focusing on all the troubles in the world. Challenging, but so true.

[Reply]
Kelly
March 12th, 2009 @ 2:50 pm

Thanks, Kelly. I’m sorry…I didn’t realize about your job. That’s so terrifying. I’m here too, call any time!

[Reply]
Lisa
April 14th, 2009 @ 9:12 pm

Kelly, thinking positively, it’s not “poor”, it’s being a war tax resister, right? At least that’s what I keep telling myself. Heads up, we’ll all get through this somehow, and together. Thanks for some great thinking material.

[Reply]

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