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  • FIRST POST
    • woody14867
    • By woody14867 14th Sep 16, 10:25 PM
    • 16Posts
    • 7Thanks
    woody14867
    Can paying off your debt make you happy?
    • #1
    • 14th Sep 16, 10:25 PM
    Can paying off your debt make you happy? 14th Sep 16 at 10:25 PM
    Hi everyone.

    I wanted to ask a question to you who have become debt free after compulsive debting...

    Are you happy now? Do you feel more content inside?

    I ask because my spending has taken away any self confidence I have and left my life in tatters.

    I look forward to hearing your views


    If you haven’t already, join the forum to reply!
    This Forum tip was included in MoneySavingExpert.com's weekly email!
    Last edited by MSE Jessica; 21-09-2016 at 9:47 AM.
Page 2
    • lemontart
    • By lemontart 22nd Sep 16, 7:58 AM
    • 5,757 Posts
    • 7,242 Thanks
    lemontart
    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.
    I am responsible me, myself and I alone I am not the keeper others thoughts and words.
    • Skinnylatte
    • By Skinnylatte 24th Sep 16, 1:06 PM
    • 1,023 Posts
    • 4,216 Thanks
    Skinnylatte
    Yes it does, and the sense of acheivement, paying down that debt myself, and how I did it, will never leave me.
    I now have less stress wondering how I will make ends meet, and more life choices, as I can now afford to do things I culdn't before.
    I still get a buzz from a bargain charity shop find though, and use many of the tactics learned when I was on a stict budget.
    Mortgage @ 12/04/2015 £136121 £130,178.90 4.37%
    Mortgage free day April 2033
    Emergency Pot £2250/£6000 36.7%
    CC Balance
    £5,221.67 0% Aug 2017...Planned expense for home improvements
    LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


    • Bedsit Bob
    • By Bedsit Bob 24th Sep 16, 4:34 PM
    • 9,132 Posts
    • 48,082 Thanks
    Bedsit Bob
    and more life choices, as I can now afford to do things I couldn't before.
    Originally posted by Skinnylatte
    Me too.

    For the first time in years, I can afford to go on holidays.
    The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing.

    Amount I have so far denied the BBC - £1015-50
    • Jo7S
    • By Jo7S 24th Sep 16, 4:53 PM
    • 1 Posts
    • 1 Thanks
    Jo7S
    Definitely YES! my debt resembled a telephone number, but with the help of Step Change I was debt free within 48 months. It was brutal at times, hard work, it was a process I didn't really think I could see through to the end, but I am now debt free and have been for 5 years now.

    Never been happier!
    • sugarbaby125
    • By sugarbaby125 26th Sep 16, 9:44 AM
    • 417 Posts
    • 2,030 Thanks
    sugarbaby125
    Being debt free made me deeply happy and continues to make me so.

    I love having choices that were not open to me before. Having savings plus enough disposable income for 'personal treats', day outs and restaurant meals also makes me happy.
    • Meepmeep
    • By Meepmeep 26th Sep 16, 11:48 AM
    • 59 Posts
    • 109 Thanks
    Meepmeep
    Yes. And a lot less stressed. I felt weighed down with it, and it killed my confidence as used to think that I was a failure for not managing money or making enough to live comfortably. I feel better I have more choices now. Unless you've been in debt people don't realise how time consuming it is to balance everything, so you don't go under. I was forever receiving tons of post and having to do balance transfers, try get money from X account to pay y etc.
    • lessonlearned
    • By lessonlearned 26th Sep 16, 12:26 PM
    • 8,171 Posts
    • 46,120 Thanks
    lessonlearned
    Yes and no......

    My husband got sick and we ran up £30k of debt because he was ill for 9 years.

    When he died I sold the family home and cleared the debts.

    I am now debt free and like others have said it's a huge relief. I can pay my way, can go on holidays etc and I dont have to worry about sudden unexpected bills.

    However..........

    I would happily take on £30k debt if it meant my husband was alive and well.

    It's only money.

    So to those still on your debt free journey. Try not to worry, you'll get there. In the meantime enjoy what you do have.

    If you and your loved ones are healthy then really that's all that counts.
    • Mysteek
    • By Mysteek 26th Sep 16, 12:45 PM
    • 180 Posts
    • 401 Thanks
    Mysteek
    That's a brilliant post there lessonlearned, I'm with you all the way on that. It certainly puts things into perspective
    ** #44 Pay All Your Debts off By Xmas 2016 = 4,230.13/£4,230.12 PAID **
    #63 £1 a day/£2 coin for Xmas 2016 = £222.10/£366 min
    #4 MFW Pay 10% off Mortgage in 2016 = 0/£4,600 approx
    MFIT #73 - Pay all mortgage off in 3 years £46,400£42,200
    • MrsTinks
    • By MrsTinks 26th Sep 16, 3:12 PM
    • 14,245 Posts
    • 21,215 Thanks
    MrsTinks
    Yes and no......

    My husband got sick and we ran up £30k of debt because he was ill for 9 years.

    When he died I sold the family home and cleared the debts.

    I am now debt free and like others have said it's a huge relief. I can pay my way, can go on holidays etc and I dont have to worry about sudden unexpected bills.

    However..........

    I would happily take on £30k debt if it meant my husband was alive and well.

    It's only money.

    So to those still on your debt free journey. Try not to worry, you'll get there. In the meantime enjoy what you do have.

    If you and your loved ones are healthy then really that's all that counts.
    Originally posted by lessonlearned
    I'm still on my journey and so is my husbeast - we could have been debt free by now, which in one way saddens me, but on the other hand we have things and experiences that can't be replaced... My daughter spends her sundays with me pampering a part loaned pony that costs me £25 a week, but sharing my life long love of horses with her and seeing her learn and grow and love that little pony makes it worth being in debt a little longer...

    We go to Florida every 18 -24 months because my godson lives out there with my daughters god parents. We shop around, usually stay with them and try to be sensible, but again these are times we can't "catch up" when the children are older... so whilst we can easily afford to overpay on debts and still pay for holidays without using additional credit then we will.

    I also tend to pay for my mums flights to come see me twice a year - it's cheaper than three of us flying to Denmark and I love having her here. Again if I was strict I wouldn't do this.

    When we eventually hit DF status then it will open up a lot of possibilities - I will be able to afford possibly doing an OU degree, I never had the chance to go to uni as I just couldn't' justify going when I was that age - the first year the charges got brought in

    I think because my journey has been a long one then yes I will be far happier when I have no debt (I should specify here that I don't count the mortgage and car payments in this as due to job car is something that changes regularly so it's a monthly expense for me, should anything happen it would simply be voluntarily surrendered)
    Sept 2016 - £10811 to clear FlyLady challenge taken up! Declutter 50 items in Sept target: 1/50 Make £10 extra a day in Sept: £110/£300
    DFW Nerd #025...well that's embarrassing...
    • lessonlearned
    • By lessonlearned 26th Sep 16, 4:21 PM
    • 8,171 Posts
    • 46,120 Thanks
    lessonlearned
    You are quite right Mrs Tinks.......yes you could tighten the purse string and get debt free quicker but you won't ever get back those years with your children, mother and family.

    I'm sure you won't regret using the money now to spend time with them.

    Sounds like you've got the balance about right.
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