What do you plan to do in the future when you're debt free day arrives?
MrsTUS
Posts: 124
Forumite
Let's play a game - it's almost along the lines of 'what would you do if you won the lottery' - except it's not winning the lottery, it's even better, it's your DEBT FREE DAY!!
My long term plans are to save some serious £££s for my three children and to also start saving for a deposit on a house - and to then make overpayments on said mortgage..
I'll be free of my personal debt in October 2013, but our collective houshold debt (as all my repayments will then be allocated to hubbys left over debt) means we'll be debt free in 2015...
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My long term plans are to save some serious £££s for my three children and to also start saving for a deposit on a house - and to then make overpayments on said mortgage..
I'll be free of my personal debt in October 2013, but our collective houshold debt (as all my repayments will then be allocated to hubbys left over debt) means we'll be debt free in 2015...
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"I once grumbled at having no boots - until I met a man with no feet" Anon
Total personal debt of [STRIKE]£7850[/STRIKE] [STRIKE] £5977.74[/STRIKE] £5635.17
Total household debt [STRIKE]£35092.42[/STRIKE] £22557.55
Total personal debt of [STRIKE]£7850[/STRIKE] [STRIKE] £5977.74[/STRIKE] £5635.17
Total household debt [STRIKE]£35092.42[/STRIKE] £22557.55
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Comments
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I'll be overpaying the mortgage to offset forecasted endowment shortfall and ploughing everything else into savings in the hope we can save face (and getting back into debt) when our 3 DD's grow up and get married. Should have started saving years agoLBM April 2011 £4906
:j:j DEBT FREE 4th NOVEMBER 2011 :j:j
Clothes Challenge 2011 £60.24/£200
Virtual sealed pot #136 - £1.60 Sealed pot # 1365 Nectar card - £8.80 Overdraft £0.00
Do I need it? Can I afford it? Is it cheaper elsewhere?0 -
Definitly save save save! After that we might start having holidays again with the kids, but I will never forget the sick feeling I've had over the last couple of years of no savings and big debts!0
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Save, save, save I want to buy my first houseTime for some debt busting in 2015 - Light Bulb Moment 4/4/15
HSBC Credit Card - £900 HSBC Overdraft - £888.22 Natwest Credit Card - £1701.51 Nat West Overdraft - £1200
Trying again to get back on track....... Getting there slowly but steadily
5 years of not buying clothes challenge - £0 :j0 -
Buy my own house, get married, have kids. At 22 the world is my oyster but right now it's a bit of a nightmare, some debt, 2 jobs, wanting everything but can't etc etc!! xxxLife is too short not to love what you do.0
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When my debts are paid off i'll then pay extra to my OH's debts and then further down the line either overpay the mortgage if we are allowed or save save save! It will be lovely to only have the mortgage and household bills to worry about rather than the endless loans and CC payments
Keep at it everyone!Nov NSD: 8/7 Dec NSD: 1/10Sealed pot member #1443 2011: £106. 2012: £171Ninjakat challenge: Aim to clear two debts by April 2013100 day challenge: No toiletries or magazines 19/100 (3 x fails )Extra payment a week challenge: Total to date: £2355.530 -
I'm going to have the best nights sleep in about 6 years.
Then I plan to save up a nice healthy emergency fund and re-join my martial arts class, which I gave up because I couldn't afford.
That's going to be the best feeling ever! I can't wait.0 -
Im going to treat my friends and family to one big slap up meal to celebrate being Debt Free and also to say thank you for supporting me over the last few years !! That is my first action anyway :j0
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I'd love to say something completely different, but I'm with you guys. Once my debts are gone, I'll be paying into OH's debts (OD and student loan) so that we have a debt-free household. Then we'll be into the saving game and probably looking for a mortgage after April 2014 when my default drops off my file. I'm also giving some thought to a career change, which will be easier without having to chuck a third of my income at creditors.
Mainly though, I'll be enjoying the feeling of relief that this has been done, of accomplishment that I have done it, and freedom that we don't owe anybody a single penny!I'm a...I'm a real traditionalist of course0 -
Isn't it funny that everyone has said they will save money after becoming debt free! Just goes to show that we (well me, anyway!) have definitly learned some lessons along the debt free way!0
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-Fab Holiday :j
-Emergency Fund
-Start overpaying the mortgage
-(maybe consider having one of those small things that people have that make a lot of noise, that then gets older and makes even more noise)A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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