20 Ways to Go for Broke

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.

  1. 0 Savings.
  2. 9 Credit cards
  3. 2 Installment loans
  4. 2 Cars with payments
  5. 2 Trips to Europe for the spouse.
  6. 3 Coaching courses for me.
  7. More TVs than you can ever imagine
  8. More DVDs than we could ever watch
  9. 2 HD-DVD players that are now obsolete
  10. Refinancing home to add on and went over budget because we didn’t have a plan
  11. Refinanced home with a sub-prime mortgage
  12. Fixed the above with a standard 15 year mortgage at half the rate, but ran up debt again
  13. Not saying no to the kids
  14. Not saying no to ourselves
  15. Running up cards again that were paid off with Debt CONsolidation loans
  16. Running up cards paid off with other cards
  17. Best Buy
  18. 2 current 401k loans
  19. Riding lawn mower we no longer have
  20. 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?


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