My brother-in-law was fond of the expression, "The two happiest days are when you buy a boat and when you sell a boat."

He knew this from experience.

He had been the proud owner of an almost-yacht; officially it was one foot shy of that vaunted designation. Thus, its price tag was materially less than that of its longer and more prestigious kin.

I wouldn't say he loved this craft, but I do believe he liked the atmospherics quite a bit, including living the marina lifestyle with all that entails.

But the fact of the matter was that he simply didn't get out into the open water enough. So it sat in its slip, mostly enjoyed by tourists that would see it through the glamorous mist along with its idle and stately peers.

I sensed he and his cruising companion were destined to part ways when he started complaining that at best it only got about three miles to the gallon, burning diesel. Just to get it out of the harbor and out for a short cruise set him back a hundred bucks.

Not that he was going to miss the C-note.

It was the IDEA OF WASTE that started nibbling away at him.

I've had the same experience, but with cars. In a moment of utter stupidity I leased a luxury convertible that ended up adorning my garage for the better part of two years. The lease allowed me to log about 800 miles per month, a miserly allotment, at best.

But I only put on half of that amount.

What a relief it was not to see it, or to calculate how much I was throwing away on insurance.

The recession is a chance to hit the reset button on extravagances of this kind.

Look around you. Are there underutilized assets that are draining funds and sapping your spirits instead of enhancing them?

If so, sell them, trade them in, or give them away. There's a reason they're bothering you, stealing your joy, even if they once made the heart beat a little faster.

Your underutilized assets are telling you it's time to let go!