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Rupert, 27, and Charlotte, 30, Calgary
Young, in love, and living in a basement suite, this playwright and grad student want to start a family and buy their first home. He thinks the only way they can afford it is if he gets a restaurant job or painting work; she doesn’t want to compromise his writing career (or their marriage). Can they hack it?
HE SAYS: TIME TO PUNCH THE CLOCK
I finished my MA in creative writing about six months ago, and since then I’ve been writing freelance theatre reviews for a local alt-weekly and teaching writing to young offenders at a non-profit. These part-time gigs barely cover the rent, which means that if my wife wasn’t earning a stipend as part of her graduate work, we’d be pretty hard up. I need to start making more money, but my work-force skills are limited to the restaurant line-cook jobs and house painting I did in my teens and early 20s. At $10 to $15 an hour, I’d have to work full-time to make the income I’d want us to have. I’d really like to focus on getting employment in my preferred field – I’m a playwright who’s had a few plays staged at Fringe festivals – but arts and writing-related jobs are hard to come by. My wife supports my career goals, but she’d also like to own a home and have a couple of kids by the time she’s 35. With what I’m earning right now, we just can’t do it, and I’m feeling guilty about it.
SHE SAYS: DON’T GIVE UP YET
Given the choice between having the extra income from Rupert getting a kitchen job, or him being happy, I think I’d take the latter. When we first got married, I was still an undergrad and he supported us by working 36 hours a week doing data entry. He hated it; he was stressed and grouchy when he came home. I’d much prefer he get a job that uses his writing, teaching and research skills. He’s constantly hunting for more work, but not having much luck. The bright side is that we do have a good amount of savings built up, and minimal debt. We’ve been looking at condos in the $200,000 range. There’s a strong possibility that I’ll go on to do a PhD, in which case I’d get some additional income from being a teaching assistant. Depending on the supervisor, it’s also not unheard of for a grad student to have a baby and finish her degree.
Vital stats
Occupations: He’s a freelance writer and teacher; she’s a master’s student in biochemistry and molecular biology
Annual household income: $47,000
Debt: About $4,000 in Charlotte’s student loans
Savings: $30,000 ($20,000 in a TFSA, $10,000 in a chequing account)
Rent: $1,000 a month
THE ADVICE: FOLLOW YOUR DREAM (FOR NOW)
Financial expert Kelley Keehn:
Rupert, who am I to tell you not to follow your bliss, especially when your wife is so supportive? However, I do have a few suggestions for you both to think about.
1. Figure out your short- and long-term goals and add a stop-loss. In other words, go for your dreams, but set a date when you must start earning a decent living – say 12 to 24 months from now – regardless of whether it’s in your field or not. Don’t even think about buying a home until your income substantially increases and you have solid and regular income.
2. You can still get a part-time job while you follow your ideal career path – it doesn’t have to be one or the other.
3. Have you and Charlotte considered moving to a larger market, say, Toronto or Vancouver, where there may be more opportunities for a playwright? Certainly your living costs would increase and it might not be possible for Charlotte to leave her studies. But before you start your family, get clear on the best location for the sake of both your careers.
4. Finally, Rupert, if you’re not making much money at it now anyway, make a list of the top 10 organizations you’d like to work with and offer your services to them for free for three to six months. It sounds crazy, but it may help you get your foot in the door and open up opportunities.
Whatever you both decide, remember to keep the money dialogue open. Revisit these decisions. Charlotte may be fine with carrying the weight of the household bills and living in a basement suite now, but years down the line resentment might start to set in. Good luck!
Kelley Keehn is the host of W Network’s Burn My Mortgage (kelleykeehn.com).
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