What are your plans when you finally become debt free?

oldandwise

I was amazed at this forum which shows exactly why the country is in the state it is. With so much money owed is it any wonder we are in this state? Apart from a mortgage paid up 20 years ago my wife and I pay any money, i.e credit card, energy bills and all the other things necessary for living, in full when they are due and therefore live a life debt free it is easy if you don't hanker after all the latest things. just be happy with what you have.

Widelats

When i get my DRO through, i am going to take driving lessons, get a CBT motorbike test and some lessons and a passport, then i am going to re-train in plumbing and central heating and move abroad on the back of my skill.

Nice.

Swinstie73

oldandwise wrote: »

I was amazed at this forum which shows exactly why the country is in the state it is. With so much money owed is it any wonder we are in this state? Apart from a mortgage paid up 20 years ago my wife and I pay any money, i.e credit card, energy bills and all the other things necessary for living, in full when they are due and therefore live a life debt free it is easy if you don't hanker after all the latest things. just be happy with what you have.

Not everyone can live debt free, it would nice but not always practical. I have never hankered after the latest things, don't have an ipod, or a plasma tv etc. My debt has accumulated through getting on the property ladder and having to buy a car (public transport not always suitable). I work at paying my debts and if that means putting a holiday or something on a credit card then so be it.

ashley

My gran used to make me nip to the neighbours on hogmannay to pay back anything she had borrowed before the newyears. Her moto never carry a debt into the new year and you'll have good luck. When I'm debt free,working hard at it ,hopefully 2010,I'll live by her motto. I may occassionally run up a credit card for hoilday or emergency but only if I can pay it off before the New Year.

keeleyw24

Don't worry about listening to oldandwise...why are you on here if you are not in debt?? LOL!! Only joking, all are welcome of course :D

I am hoping to be debt free by Jan 2012, soooooooo well it seems so far away, but this time last year we were so in the doodoo that we thought we'd never see the light again...:p But now we're halfway there!!!

I'm thinking pretty much along the same lines as you lot!!

1-bottle of nice bubbly, mmmmmmm
2-would like to take the hubby to Heston's restaurant as he is a maaaassive fan, and deserves to go after the year we've had!!!
3-go on holiday, somewhere nice and hot, HEAVEN!
4-start saving for a deposit to get a mortgage and get out of the rented property, woop!
5-have babies, awwwwwwww :T
GOOD LUCK TO ALL:j
K xxxx

JayWalker

My OH dreams of buying a smallholding and moving there to be largely self-sufficient. This relies on us both having skills which can make small amounts of money (we have) and a market to sell things to (may need more research).

DdraigGoch

As I define debt free as being fully paid up on the mortgage, all the cards paid off, all the loans paid off and having enough money put aside for a] at least one year's bills b] a pension for me as I have precisely zilch! and c] a pot of money to dip into for some fun now and again = "mad money", I don't think I'll EVER be DF, but, the day the mortgage, cards and loans are all paid off we'll be off to Heston Blumenthal's for lunch [it's cheaper than dinner!] and a night away, with a champagne and fish'n'chips dinner :rotfl: I don't think I'll be ABLE to spend too much on a celebratory dinner out, I'd worry too much! As soon as I achieve my first goal - mortgage, carda, loans paid off - I'll let you know, in fact, you'll probably be able to hear me doing the Happy Dance and screaming out loud from wherever you are :rotfl::rotfl::rotfl:

When my secondary goal - my home finally finished off properly so we can live in relative comfort for a change - is ready I'll invite all of my MSE chums and *real life* supporters for a BYO party [can't go getting back into debt again, can we?! :cool: :rotfl:]

When my tertiary goal - the Rainy Day Fund - is ready, I'll shout again

Then, when I have a proper pension AND the Money Pot, I think that angels will be singing, harps playing and the end of the world will be announced

dotstar24

i'll run down the street, naked screaming 'FREE AT LAST!!!!!' :eek:

or just try and save some money. would be nice to own my own home one day. :cool:

Casanova

Like many I'll switch from debt repayment to saving for a house deposit. My plan is to buy some land and build a house though, as its greener, cheaper, more personal and more flexible than buying someone else's house. Plus I want to live in the middle of nowhere, surrounded by trees and fields My current plan should get me towards workable deposit territory some time in 2012, depending on the mortgage market in the future!

Nitha

Cancel that final credit card! And wish I wasn't a 6yo 20 years ago when lucky oldandwise paid off his mortgage.