20 Ways to Go for Broke
2008 May 29
My problem lies in reconciling my gross habits with my net income.
Errol Flynn (1909 – 1959)
The following is just a little bit of how we got into this mess.
- 0 Savings.
- 9 Credit cards
- 2 Installment loans
- 2 Cars with payments
- 2 Trips to Europe for the spouse.
- 3 Coaching courses for me.
- More TVs than you can ever imagine
- More DVDs than we could ever watch
- 2 HD-DVD players that are now obsolete
- Refinancing home to add on and went over budget because we didn’t have a plan
- Refinanced home with a sub-prime mortgage
- Fixed the above with a standard 15 year mortgage at half the rate, but ran up debt again
- Not saying no to the kids
- Not saying no to ourselves
- Running up cards again that were paid off with Debt CONsolidation loans
- Running up cards paid off with other cards
- Best Buy
- 2 current 401k loans
- Riding lawn mower we no longer have
- 80/20 Mortgage paying less than $30 per month on Principal Balance on the 20.
Neat, huh? I could probably go on, but you get the idea. What are some stupid things you’ve done to dig your hole of debt?
