Recovery.gov

Spring is (almost) here, and we've embarked upon our own Recovery.gov plan for fiscal responsibility. Call it a monetary spring cleaning, if you will. The last few years have left my financial house of cards in a pile, due primarily to working full time, being in graduate school many nights a week, and dealing with my late mother's estate. It's a difficult thing to sit down and spread your financial life out in front of you, under the harsh light of day. It is also a difficult thing to look at where you've made mistakes along the way.

That being said, we're unloading a Disney timeshare, and cashing in an un-needed life insurance policy to get ourselves back on track. While it may be painful to take that first peek at the personal balance sheet, in the end, it's good to come out of the exercise with a plan. Of course, this involves careful prioritizing of our needs and wants. Needs are fairly obvious (house, car, utilities, etc.). Wants are a little harder. While some friends and family might categorize a timeshare as a "need," for us it falls under "wants," therefore it is not a necessity (and selling it is a source of a little $$). Once this exercise is finished, it's easier to see just what needs to be done. And with a clear path to fiscal rebuilding before us, especially in these dark financial times, we can rest a little easier having subjected ourselves (and our habits) to a little scrutiny.