Can paying off your debt make you happy?

enthusiasticsaver · 21 September 2016 at 11:04AM

Being debt free removes stress and enables to concentrate on more enjoyable things in life. It also puts you in charge of your own life and gives you choices as to what direction to go in obviously taking account of your income and expenditure and financial position. The thing is you are in control of your finances rather than them controlling you. On its own though being debt free will not make you happy as other things come into play like health, relationships, work-life balance and job satisfaction.

sunshinegirl66 · 21 September 2016 at 11:23AM

I am now debt free after almost 10 years and it is such a huge relief.
Money isn't everything ,health is.

Bigphil1474 · 21 September 2016 at 3:41PM

I'd have to say that being in too much debt made me completely miserable. I feared opening the post and answering the phone in case it was the bank or credit card company chasing up money I owed. When I finally got myself to face up to the problem, it was a huge relief. Took me six years to clear all the debt, but what a difference. I still have one credit card (instead of 12), but make sure I pay it off each month. I know what comes in and what needs to go out, I have a lump sum saved for emergencies, and the amount of post I get has shrunk enormously. As others have said, I think unmanageable debt makes you unhappy, so being debt free can't be anything other than a positive.

2Lancahire_Lassie · 21 September 2016 at 4:03PM

:money:Having just cleared the last payment of debt on 05/09/16 (except the mortgage) I was really excited and pleased about that. So, for now, I am having to make adjustments - I am looking and working out how much I can save. I have learnt the hard way (for a 2nd time). It is likely to take me some time to adjust to the less stress, as I am a procrastinator, still look at things within the market.
Don't get me wrong I am NOT looking at going back there but am looking forward still to find more ways to save money.
I know I have been fortunate to have made my way through this all with less expense than some I have read about on here.
My latest plan is to move the bank accounts we have to those who want to pay for our business. I am saving this up and are well on our way for it to pay for a week holiday abroad which we have not had for 9 years:j
Happiness will come but for the moment I feel very smug about it all - not meant to offend those still struggling- it has taken over 25 years!!!

[Deleted User] · 21 September 2016 at 6:08PM

Paying off my debts didn't make me happy.

It made me ecstatic :j

determined_new_ms · 21 September 2016 at 8:27PM

In a certain way it can make you happy. You start off with such enthusiasm, loving making easy savings and changes to your life. Challenging yourself to see what you can sacrifice, what you can do for less or free, getting 0% deals. Then the middle section was a drag, we'd made all the cut backs we could and it felt like eternity (this was right through a freeing winter for us). Then magically you get over the half way point and it stays gathering speed and becomes like a rolling and that bought me happiness.

Since getting df, techically as 2 years after we got df we borrowed £5k off of oh's mum, not sure it's brought me happiness, because are you actually aware of an absence of worries? I've had lovely holidays and times with friends and family. I was able to take a year off of work following losing my job and some personal issues without too much worry (although it was hard to watch my savings disappearing )

Wimbrel · 21 September 2016 at 9:14PM

I'm not quite there yet but I now have peace of mind. I can answer the phone or open the post ( or go to work and not worry that my husband will open the post). When my job was under threat recently I knew that if the worst happened we'd be able to get by and use any redundancy payments to tide us over till I found another job rather than fretting that it would be a catastrophe, ( Still relieved that it didn't happen mind)

I sleep peacefully after years of laying awake and worrying,

And I'm counting down to that magical Debt Free Day. Just a few more months to go,

So yes. I'd say that my happiness factor has increased immeasurably.

leighavfc · 21 September 2016 at 9:52PM

Huge yes!!!

Not out of debt yet, but less than a year away now, i feel happy right now just looking at how much money i have chipped away at my debt. When im actually debt free and able to live my life with no shackles.

The whole experience has taught me a very valuable lesson in life and for that i will better myself in the future financially. Money doenst mean anything to me really but obviously having money in your pocket makes life easier to live.

Domayne · 22 September 2016 at 7:52AM

Being debt free doesn't make me feel any happier than I was when I was in debt but it's at least one less thing to feel stressed about in life. So I'm not happy but I'm happy I have no debt. If that makes sense.

lemontart · 22 September 2016 at 7:58AM

Can paying off my debt make me happy.

Hell yes,

more disposable income,
less worry how I will pay said debt and keep a roof over my head and food on the table.

Can paying off your debt make you happy?

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