Boston Gal's Open Wallet

Sounds like she made a lifetime out of sponging off of other people and fraudulantly representing her financial status really pay off.

 

So...uhm, Jim: Her writing's terrible and as independent business entrepreneurs neither seems to be very savvy, but other than that, where does it say she's "made a lifetime [what does that mean, anyway?] sponging off other people and fraudulently representing her financial status"?

 

Huh. I also followed the NPR stories and read much of her blog, although I haven't checked for updates lately. I have to question the husband's decision to go to grad school and notice that there's no mention of what he's getting his grad degree in. (Or maybe I just missed it?)

As someone with an MFA and a mountain of student loan debt, I worry that they're just going to get themselves in more debt pursuing this education when what they both need to do is buckle down and work "real jobs" for a while to support their kid and save for their future.

 

Found this later down in the blog:

...Dan got a call from Mass Art. Graduate School and was offered one of their six graduate spots for the fall.

...We got the financial packet from Mass Art and are trying to figure out what miracle we’d need to come up with the money to live on while he goes to school. He got loans which will cover the entire tuition, which delays the pain of the cost of school, but of course, does not eradicate it...

...what [Dan] wants the most in his life--to be a fine art photographer who teaches...

Borrowing money for art school doesn't seem to qualify as "good debt." I wonder if they've done the math on what the expected salary will be. There should be a way to learn the same stuff and make connections without going deeper into debt. But to each his own.

 

I think they are trying to ride out this recession, figuring that somehow on the other end they will get secure and fulfilling jobs and be able to live their middle-class dream.

I hope it works for them, but given that Caitlin just turned 35 and they have a young child (very expensive children are) pinning their hopes on a photography teaching career seems a bit misguided.

If he was going back to school for a teaching certificate or some other stepping stone for a job - that would be more understandable.

 

This smacks of liberal elite envy. I suspect many get it, after spending many semesters at liberal arts colleges with the kids of wealthy parents. They have the ability to meander through degrees and programs very limited income potential, but when you come from more meager beginnings, you're making a mistake following the same path.

I get it, you want a part-time prof gig which gives you a pension and flexible schedule to devote to your passion. Who wouldn't? Sounds sweet to me! But it's a dream that, if you're not there by your mid-30's, prob isn't happening. So grow up and provide for your family already.

They're paying for these old lessons they haven't yet learned. Maybe they will someday, and teach their child to pin his-her future on a more secure career and life.

 

I paid to put my partner through photography school. While he is an amazingly talented photographer, and really has a very artistic eye for the craft. The business of being a photographer is very difficult. Even teaching it is not a high paying gig early out, if ever.

Had I not paid cash for his education, he would be sitting on mountains of student loan debt and not really have the income to repay it.

They need a dose of reality, get their heads out of the clouds and realize that an income requires work, and work that is in demand. High end, fine art photography is a 1 in a million shot.

Get real. Not everyone can live their dream.

 

What can you say? They just. don't. get. that they need jobs and marketable skills and they can't be artists full time if it doesn't pay. And yes, this MFA is a terrible idea.

Plus, New Englanders--does the idea of commuting between Bushwick, Portland and Boston make financial sense?

 

Some family who lost their home due to recession are now renting a room to cut down expenses. Everyone got their strategy to ride the recession problem. People can easily adapt to changes that is how our genes were programmed hundred of years ago- to adapt to changes and survive to live.

 

I've become obsessed with all the stories about photographer Annie Leibovitz's financial troubles. ("For Annie Leibovitz, A Fuzz Financial Picture" NYT, 7/31/09)

She took so many iconic photos such as Yoko Ono & John Lennon and the pregnant Demi Moore. She's worked for Rolling Stones and Vanity Fair, pulling in as much as $5M a year. So how can she be going broke?!?

Even though she has a huge catalog and many real estate investments, she is being sued for nonpayment of a $24M balloon loan. I can't even guess where all the money has gone.

It goes, to show, it's not just what you make but also how well it's managed. If you're not good at managing a small amount of money, you won't be better at managing a large amount. In addition to his MFA classes, the husband should audit a few Business and Accounting classes (or read BostonGal).

Vanity Fair is reporting where the money went. http://nymag.com/fashion/09/fall/58346/

 

I, for one, am happy for them. I'm glad Dan has a job, and they've moved into their own apartment. Hopefully she'll pick up work as well, maybe someday parlay this whole experience into a book. In the interim, maybe waitress in the mornings so she's home when Dan's bartending in the evenings.

The apartment of their own though... psychologically that's huge. I'm so glad they were able to make that leap.

 

Having done the same kind of ping-pong journey I know the desperation they must have been feeling. But we were a couple in our early 20's and no kid, and it was 35 yrs ago. I think they must have gotten considerable financial support given the lack of real work our west and how they keep moving around. Sounds like her family is financially comfortable and helped out. Never did they get to the point of not having money to buy gas, food, a motel room, no matter have sleazy unless they were charging everything. I too questioned the sense in Dan going back to grad school - in Boston - but if you read a later posting where Cait acknowledges how he kept the family going, schlepping their stuff in and out of hotels, keeping them going on the road, I think she could just not bear to deny him the chance at this prestigious grad school opportunity. I think he will work out fine - he's hard working, talented. But I think Cait better start getting busy with earning some $$. Since she's so excited about motherhood maybe she can write and do day care for other moms in Portland ( Yes, I can hear the moms saying 'Are you crazy-write with babies or toddlers in your care?'). Bottom line is this is never going to be a 9 to 5 couple and they will live hand-to-mouth or come into a inheritance that will subsidize their desire for a creative lifestyle. I wish them all the best.

 

Well, I missed the original stuff on NPR, but went back to it and read some of the blog. Wow! Great sense of entitlement.

I was shocked to read--just as she writes of her spouse taking out loans for an MFA program--that whe wishes/hopes Obama will forgive student debt!

I read stuff by Megan Daum years ago--she got an MFA from Columbia in creative writing. That debt put her over the edge and she left NYC for Nebraska (?).

Anyway, the writer should check out Megan's work--"My Misspent Youth" among other things.

I started shaking with dread as I read this. Had the same response to the infamous Edmund Andrews.