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No. of Recommendations: 6
I find it ironic? interesting? intriguing? that you started posting exactly two years after joining the Fool. (That's what the balloons are for).

Me too. Took me a while to figure out that there was a problem. I justified the HELOC by telling myself that it was "smart" debt. I could write off the interest and the rates were relatively low. I finally realized that we are still in debt no matter how sophisticated that debt may be.

I wanted to thank everyone for taking the time to give us all of this great advice. My wife and I stayed up very late last night going over all of our options and discussing stratagies to attack the mountain of debt. It was one of the best financial discusions that we have ever had. : )

Here is a summary of what was discussed:

1. went over past mistakes and what could have been done differently.
2. possibility of getting out of our auto lease early
3. cut gardener and house cleaner
4. set up e-fund
5. set up a balance sheet. (we really like this because you are not penalized for investing instead of paying debt.)
6. Set up milestones and goals
7. put fun $ into the budget to release steam.
8. treat future big purchases way more seriously than in the past.
9. we figured out that I am pretty good at making money and handling investments, but a little careless when it comes to spending decisions.

Thanks again,

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