Roy,

This is my first post here. I saw this via the Topic of the Day.

Congratulations on getting your debt reduced. I can't imagine the emotions you are feeling, but your story is very inspiring. What you posted about your father was really touching and I wanted to thank you for sharing that.

What really struck me about your story is the fact that you and your wife did this TOGETHER. Many couples don't plan and execute this sort of thing together, and it leads to disaster. It is not immediately obvious, but it's a really important lesson.

There's this book called The Millionaire Next Door. It is a demographic study of millionaires (in net assets), first done in 1996. I think the author's last name is Stanley. Anyway, the book points to how the real successful people are couples who pull together, and are often people who have faced adversity and have gotten through it. You should check this out; it's really inspiring. The fact that you have a plan bodes really well for your future success.

I read through the links you posted at the beginning of this thread, and I have a question: Do you always get big tax refunds from teh IRS? The reason I ask is that you talk about how you get 0% loans, right? Well, if teh IRS is holding your money, you are giving them a 0% loan, too! I think that if you haven't yet, you should increase your exemptions to get more of the money in your paycheck(s) to improve your cash flow and savings.

What you say about savings really appealed to me. When I got my first house, I was hit with a big property tax bill, then major car expenses. It took a lot of scrambling for me, but I got some help form my parents. I also found out just how much of a tax refund I got, and then realized it was better to improve my cash flow and SAVE that money. The next year, I bumped up my savings, adn kept doing so to have a cushion (over and above my retirement savings in the 401(k) plan at work). Now that I am married, my wife has kept that savings ethic up and it's worked well for us. We recently got hit with a big home expense (new furnace), so we have taken advantage of a 0% credit card offer, too!

Not to rain on your debt-paying parade, but it ain't over 'til it's OVER. Good luck wiping out those balances and best wishes for the future.

Ron