Debt free future?

Kevicho

Have just spent a good half an hour reading a thread in a different section regarding house prices, with people playing around with LOTs of money, making my debt seem like peanuts, thats not to say that my debt is any more irrelevant to me however.

Its got me thinking (and motivated) to what am i going to do after i pay off all my debt to make sure I am sound financially for the rest of my life?

The past few months have been a huge turnaround for me, im more sassy with money, im less concerned with going out drinking, im more concerned with more important things in life such as improving myself in many ways, such as health, knowledgewise etc, and know i feel ready for this step.

I must admit i feel like ive wasted a lot of potential up to this point, and this does hold me back at times.

Anyways, so far the main plan is to get a mortgage in a years (or so) time for a house with a mate, im trying to get him to improve his spending (no debt just frittes money away) and then maybe rent a room out.

I find this exciting, as I have rented before (with my then-fiance) and while it was a disaster (especially being ripped off for 200 quids worth of electricity tokens after somehow the meter was 200 overdrawn when we moved in) i did gain a lot from the experience and would do it again.

All new challenges such as (more) bills, food shopping, (god ive got life easy at the moment), taxes and so on, to come and will have to be accounted for.

Also I have ideas to make money but need money to get them started, so at the moment they wiull remain ideas.

Im not concerned with being rich, im more concerned with living a decent life, but it would be nice to not have to worry about possible failed DD fees and so on.

The incentive is there for me, get out of this h3ll hole village (which is full of idiots), really start to push for improving my career prospects, and basically live up to peoples (mostly my own) expectations (and stick a finger up to my snobby canadian cousins )

The past cant be changed, we need to work for the future

Im in a debt-war mood this afternoon

JAMIEDODGER

hi kev,

i think all the time about what i will do when i am debt free. im probably obsessed but i consistently redo my spreadsheet to see where i can pay off a bit more so to bring my DFD closer.

being a single parent and having 4 little ones, their future is why i am striving to be debt free.

i couldnt consider buying somewhere as i dont think i would ever earn enough to borrow for a house big enough to accomodate us and my DS3 needs extra space becaise of his disability.

one day when they have all left home i will try and buy a place of my own, but until then i want to pay off the debt and ensure that i have enough money saved for most of lifes "emergencies" that will do me for now

oops_a_daisy

wow kevico you sound so motivated and strong :T good on you

I must admit this site has totally changed my way of thinking in all areas of my life. Since joining here I feel so much more motivated. I dont have masses of debt but also dont have any savings what so ever and things always got me down. I too am planning for my future with hope and excitement. Instead of moping around thinking that I will never have a holiday or the things I want I am not even bothered about those things anymore. It has really made me realise that things are not that bad when I read some of the threds on here - Im not saying that I am better than anybody else just that what I do have aint so bad after all. This has given me a focus and the information that I would never have dared to ask to enable me to get where I want. The people here are so supportive it has really touched me the way that some people on here come on in such a state and they are welcomed, praised and given REAL advice. It is also fantastic to see the mountains that some on here have moved without giving up - they are the ones that really deserve praise. I have come to realise that it doesnt really matter why they got into debt it is how they get out of it that shows what sort of person they are. You are right when you say the past cant be changed, we need to work for the future. This site and the people that make it up gives the motivation to do that.


Good luck for your future

kuohu

Your overall situation sounds similar to mine. I have around 7k debt and I want to be looking at buying my own place this time next year. (I am 33 and single). I can relate to what you say about having perhaps wasted money in the past, but have turned over a new leaf and have been very organised with money over the last few months.

The goal of getting sorted and jumping on the property ladder is a very attractive one, and something really good to work towards. I wish you good luck!

lynzpower

since being told of this site just over a month ago, my attitude and practice has changed dramatically. I will be debt free as of August next year (aside from the mortgage) Hopefully, I'll be earning more then, but what we are hoping to do is downshift to a smaller, cheaper flat in outer london, and use the equity towards a) being mortgage free on that as far as possible and b) look into buying a second property, that I will lease back to my local authority who I work for as a home for a homeless family. Hopefully, if all comes off, and looks sustainable in practice, we'll keep the second property, sell the first and hopefully, buy a little tiny patch of land in the most beautiful place in the world. Should be about 5 years off if we can maange that, life will be very very nice.
thank god for MSE, and all you lot here, I never really thought my plan would get past the daydream stage, but it is coming along, every single day :j

Kevicho

Have to ask

oops a daisy, who is the duck?

Makes me laugh!

oops_a_daisy

I dont know who the duck is - think I got it off photobucket

it was the only pic that I had that was small enough to fit into an avatar ( not mush of a techie Im afraid )

musicboy

"get out of this h3ll hole village (which is full of idiots)"

:rotfl:

had to laugh... I read that bit and thought it must be round here ... then looked up and saw your location ...

cheers for the laugh ... !

Musicboy (Rotherham)

Kevicho

<rant>

To be honest its a really nice village, but it is now full of morons and idiot teenagers running roughshod while parents obviously dont care (and probably encourage it)

The police dont care, the councillors dont care, mp's dont care

whereas if i retaliated and smacked on of the little runts then id be hauled up in court

I have to say the state society is in today is worsening and i blame the 3 previous generations (as well as the current batch of inbred A$$ holes) for the mess we are in.

It is time people stop chasing the big buck and realised that society and this planet needs to be repaired and quickly!

Decency, compassion, common sense, are all now forgotten and indeed derided.

I think socialism is becoming the only way forward, democracy has shown it doesnt work!

All it has created is a cesspit of greed, immorality and mass overpopulation in every country.

Roll on the coming apocalypse!

</rant>

amosworks

lol if you've not heard of the peak oil crisis, it would seem that your apocalypse is coming sooner than you think :-\

Kevicho

I have indeed, china russia and america may soon come to blows

Thats if north korea dont launch there nukes as well :S

Desperate times we are living in, thats probably why my debt worries dont matter to me any more