User38620_1_t Susan Walters
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buffalo nickelThe title of this piece is a quote from my husband, circa 1990, I'm guessing, when we were in such dire straits financially that we had 20 cents in our local savings account.  I am not kidding.  When the savings statement came from the bank, my husband looked at it, uttered those words, and continued with, (if somebody gave me a nickel) "We'd have a quarter in our savings account."

We were in that position since we had decided to function as a family with just my husband's income to provide for us.  That had not been the plan, pre-children, and we had definitely not saved enough for the path we ultimately took after 11 years of two paychecks and no children.  Our household income was cut in half when I stayed home to care for one, then two, and a third child in 4.5 years.cloth diapers in the sun  We exhausted our reserves and soldiered on.  I remember the scrimping in those days.  We did things no one else was doing.  Our babies wore cloth diapers that I hung on the clothesline to dry.  A roll of paper towels could last a month in our house - dish towels and table cloths made up for them with one washer load and line drying cutting costs even more.  I even hung heavy clothes like jeans and comforters in the basement to air dry.  If I could do it for less, I did.  I was constantly on the lookout for more cost-cutting ideas.  Do I need to mention that baby formula never crossed our threshold?  Or that dinners out were absolutely never done?  I don't regret any of those decisions and our family and children are better off for it.  No one will ever convince me otherwise.

Today I find myself selling real estate in Michigan and although things are looking considerably up, my husband is still employed in the auto industry and the bottom of our security, such that it is, could drop out at any moment.  Sure, we have 401K plans, IRAs, stocks; some do well, some not so well - we are in it for the long haul in most investments and are told to not sweat the temporary setbacks - just like in real estate.  We expect the equity of old to return to our home, one day, and daily savings efforts are evident once again.  Sometimes we let the satellite go out - we barely watch TV anyway, not even our children.  We keep the heat really low in our large house, though I must say I did a listing presentation in a lovely condo yesterday and my nearly frostbitten hands had a hard time turning the pages of my booklet - my guess, 45 degrees.  At the end when we talked about net proceeds, I learned that there was no mortgage on the property.fleece blankets  Turn on the heat then!!!  I came home to the comforting warmth of 63 degrees, a sausage and roasted vegetable dish prepared by my son, and plenty of fleece blankets.  It felt like heaven;  it is heaven.  Sometimes we forget.

I have to look back to those seemingly desperate years so long ago and wonder if lack of money was really a problem.  We found ways to cope and survive.  Our bank account eventually grew to a sizable amount; we purchased our next home, this home, with a hefty 20% down payment.  We may have had 20 cents in our savings account then but we weathered the storm and prevailed.  It is how I look at real estate now.  Cut costs but not services.  Will the work be harder?  Of course, nothing in life is ever really easy or free - it is all in perception.  The weak will succumb but the strong will survive.  I will survive.     

 
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14 Comments on If somebody gave me a nickel...

Susan,

Ah, you bring back such fond memories of the past.  I think most of us had been there at one point or another.  You are correct though that the strong survive.  The agents that stay in this business and are successful have all weathered storms at on point or another in their careers.  There was a time 9 or 10 years ago that a friend had asked me to list their Mother's home.  I told her that I was not sure I was going to stay in Real Estate.  She told me to let her know if I decide and she will list with me or ask if I would recommend someone.  Well I decided to list the home that another agent had on the market for over 6 months.  It sold in 3 weeks.  She came back to me and said that she could not imagine me doing anything else after the great job I did for them.  11 years later I'm still plugging.  Perseverance will win in the end.

03/01/2008 12:20 AM by Mike Gambino GRI (Prudential Patterson Realtors)


Thanks Mike, you and I have the right handle on this and my team leader agrees.  I cannot tell you how many times he has told me that I am the model of perseverance.  This year I am on the "board of directors" in my office, the ALC committee in my Keller Williams office, due to productivity.  I am nearly at 3 years in the business in Michigan, actually in the real estate business, period.  Each year I've advanced.

03/01/2008 12:34 AM by Susan Walters (Keller Williams Realty, Ann Arbor, MI)


Great post.  I did not know that people actually do cloth diapers. Did you use S.S.  back then ?

03/01/2008 12:49 AM by Ryan Vivo, Realtor Solano County Gateway Realty (Gateway Realty)


Fantastic, well said!  It's so true the weary will wither away.

03/01/2008 02:26 AM by Carmen Tomlinson, King & Pierce Counties WA (Re/Max Select RE)


Susan, yesterday after the Welcome Reception,did you see the video yet? We met with our financial planner and we have a lot of catching up to do, ALOT !! Glad I've always told my 5 children THEY are my retirement. 

03/01/2008 06:59 AM by Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate (Keller Williams-Ann Arbor)


Susan you made me smile and reminisce with this post.

When my oldest son was born Michigan was going through some times.  Hubby was laid off one month before he was born, and we lived off of $194 per week in unemployment.  Yes, I used cloth diapers also :-)

Along comes son #2 almost 3 years later and the same thing happened.

We survived.  Heck, it's in our blood to survive rough economic waters!

Retirement?  We'll get there...eventually :-) 

03/01/2008 07:34 AM by Kris Wales-Macomb County MI real estate -Ask me about buyers agency in Michigan (RE/MAX Advantage 1, Inc.)


Ryan, what is S.S. ?

Carmen, Yes, it can be wearying now, but so was raising little children!

Missy, Haven't seen the video yet but will look for it now,  and regarding retirement, my kids say they are sending me to a retirement home the minute it is appropriate - I don't know if they are kidding....

Kris, I sometimes wonder if I would have done the cloth diapers anyway rather than the mountains of disposables we would have had instead.  We have had huge swings in finances too, fortunately no layoffs as you have endured, only those interruptions that were imposed by my job changes by choice.  Or the time we bought a fixer-upper vintage hope.  Yikes!  Tighten the belt; that is what we have always done.

 

03/01/2008 08:10 AM by Susan Walters (Keller Williams Realty, Ann Arbor, MI)


Thank You for the inspiration. Thinks have been really rough around here, but I'm not about to give up.

03/01/2008 09:15 AM by Lissa Uder, Your Lebanon MO Real Estate Agent (A Helper Premier GMAC Real Estate)


Lissa, As we learned at our recent KW conference in Atlanta, when someone asks how the market is, the answer should always be, "UNBELIEVABLE!"  It covers all manner of truths.  Hang in there, it can only get better.

Kris, one additonal comment as I now see your $194 figure per week to live on.  My husband had a weekly lunch allowance for a long time that was $5 and when he got a raise, it went up to $7.50!  My grocery budget, including non-food items, was $30 per week.  It is amazing what can be done with so little.

03/01/2008 12:04 PM by Susan Walters (Keller Williams Realty, Ann Arbor, MI)


I only used cloth diapers on my DK's. My oldest is 17 and the youngest 11, and flats which required folding before pinning were par for the course at that time, as were rubber pants. I did the clothesline thing too, and somehow it made the whole cloth diapering experience that much more meaningful. Maybe it was matching good old-fashioned with old.

03/28/2008 09:18 AM by Barb


Barb, My diapers were the old type too and I learned by trial and error that J.C. Penney had he best rubber pants around - they lasted forever!  I think I would do the same now although finances are a bit less constrained (those diaper kids are in college now) but global warming and waste reduction is so key - one day could fill a trash can with disposables if I used them (as I did) after the newborn stage.

03/28/2008 11:20 PM by Susan Walters (Keller Williams Realty, Ann Arbor, MI)


The finances being tight does not make life bad.  You figure that out right away when you are on the better track .  You soon realize that the money is not the happiness,

03/29/2008 01:11 AM by Carol Judd , Vernal Utah Real Estate (Century 21 Dart Realty)


Carol, Our son is our best educator there - he truly is not ruled by money.

03/29/2008 02:28 AM by Susan Walters (Keller Williams Realty, Ann Arbor, MI)


Hi there Susan. Thank you for the reply. I used to buy rubber pants at both Woolworth's and Kmart. If I remember correctly the ones from Woolworth's department store were the most durable. I hand washed them, then pinned them up to dry on the outdoor wash line with the diapers. I'm another mother that would use old-fashioned diapers again in a heartbeat!

04/13/2008 04:28 PM by Barb


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Real Estate Agent: Susan Walters (Keller Williams Realty, Ann Arbor, MI)
Susan Walters
Ann Arbor, MI
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Keller Williams Realty, Ann Arbor, MI

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Generally anecdotal in style rather than a lot of statistics and facts. My goal is to allow fellow bloggers and the public to know who I am so they can comfortably work with me or refer business to me in the greater Ann Arbor, MI area.


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