What age should you be debt free by on average?

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  • January2015
    January2015 Posts: 2,369 Forumite
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    Whilst I would have loved to be debt free earlier, my goal is debt free by retirement age. Anything sooner than that is going to be a massive bonus. However, I learnt my lessons about debt and dealing with it far too late in life - but hopefully in time to achieve a happy, debt free retirement :)
    DFW Nerd No. 1484 LBM 07/01/15 Debt was £95k :eek: Now debt free and happy :j
  • jimbo747
    jimbo747 Posts: 630 Forumite
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    When you're dead your debts die too.

    I think other than mortgage, student loan and possibly car finance, you should be debt free before having kids. If everyone did that, poverty would disappear in a generation.
  • iolanthe07
    iolanthe07 Posts: 5,493 Forumite
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    I finally became completely debt free on my 60th birthday on receipt of a retirement lump sum, though unsecured debt could always have been covered by raiding investments in emergency.
    I used to think that good grammar is important, but now I know that good wine is importanter.
  • The_Analyst
    The_Analyst Posts: 80 Forumite
    First Anniversary First Post Debt-free and Proud!
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    vitalyzdtv wrote: »
    Considering you go to university and have a mortgage, what age is realistic to become debt free

    Bit of an expansive question. It also depends if you count a mortgage as debt (I don't). My plan for the next 10 or so years is to make sure my kids come out of Uni without so much as a penny of debt. I came out of Uni at 21 with debt and it became the norm for the next 15 or so years. It's only been the last 5 years where I've fought and fought to get debt free
    August 2011 - Total Debts - £47,352.12
    November 2018 - Total Debts - £0:beer:
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