WASHINGTON -- Rick Rose did just about everything right with his finances.

He worked hard. He saved well from the $85,000-a-year job he had as a communications director for a nonprofit here in Washington. He bought a home he could easily afford. In fact, he had saved about a year's worth of living expenses.

But in two months, Rose, 43, will be completely out of money. He lost his job last spring and has been living off his unemployment and savings ever since.

By contrast, Juan and Bobbie Wilson made many mistakes. When the couple was earning $98,000 a year, they admittedly spent too much. They weren't extravagant but they did what many families do. They ate out too much. They overspent using credit. They didn't budget.

Come May, both Rose and the Wilsons will be in the same exact position. Rose and the Wilsons will barely have enough money to make their mortgage payments. Rose will worry about coming up with the money to pay for the expensive medication he takes for a chronic illness. The Wilsons will be wondering if they can pay for health insurance for their family.

The fact that Rose and the Wilsons are faced with the same financial issues illustrates how cruel this recession has been and how none of us can arrogantly think we're better off than our down-and-out neighbor or friend or family member or former co-worker.

Even though the Wilsons could have handled their money much better, they weren't reckless. They just didn't plan for the worst.

And yet, Rose did plan for the worst and it became catastrophic.

"I thought I was being very careful," Rose said. "My house isn't extravagant. I don't have huge expenses. I have an unexceptional wardrobe. I don't vacation much. I cut back on eating out."

If you had a sustained period of unemployment, how long could you last financially? Would you take any job, even one that paid significantly less than you were used to making? Is your job the key to health care?

Over the next nine months I'll be sharing the struggles of Rose and the Wilsons as they look for new and sustainable work. They are the faces of this recession that has taken families down all over this country.

In past challenges, I've spent a year working with individuals and families, helping them get their money straight. For the most part, it's been an easy task. It's something I've done with dozens of others. The advice is generally the same. I first make them do a budget. They have to get rid of their credit cards and face up to their spendthrift ways. For this year's Color of Money Challenge, I decided to specifically focus on families impacted by a job loss. The theme for the challenge this year is "down but not out."

This challenge is so dramatically and emotionally different. This isn't a matter of eliminating eating out. Challengers are struggling to keep food in their refrigerator. They are worried an illness will bankrupt them.

In one respect, having a large cushion made Rose feel too secure. With a lot in savings, he didn't have to settle for just any job. In the past when he lost a job, it only took a few months for him to find employment.

Rose has sought help in his job search at a career center, called 40Plus of Greater Washington, a nonprofit that offers a wide variety of career support services. However, he's not done everything he can to find a job, he admits.

It's hard to stay motivated when the openings are few, and the rejections are many, he said. Continued...