What will you do when finally Debt free

Spirit_2

We will be about £1600 per month better off. We have carried on having holidays and have a lovely cottage in a village - but it is looking a bit shabby. So we will (in no particular order):

Pay more off the mortgage - currently overpaying so 5 years to go.
Smarten up the shabby bits around the house and garden.
Pay off our DD's student loans - she will graduate as we become debt free and I do not want her to start adult life with a millstone of debt.
I will reduce my working hours.


Lovely thread - it has reminded me of all the good things to come

Jemima09

Spirit wrote: »

Lovely thread - it has reminded me of all the good things to come

I second this!! It's a nice change to forget about how long it'll take to pay off, and just think about how much easier it will be at the end (whenever that may be!)

catmiaow

Woo I will finish my degree with the OU, learn a language, Go on holiday around the UK and abroad several times a year, and save more.

wigannwuk

Glad i started this thread now......reading through there are a lot of people cured of the lure of credit ( me included)....we are where we are , there is no point looking back and regretting...none of us are in debt forever...It might take a couple of years but that last debt repayment will be a blinder!!!!

mummytofour

When I am debt free I will be about £200 a month better off and will start to pay of the mortgage.

MoneyMagnet

I will buy a new carpet for the living room - ours came with the house & dates back to the 70s, so is in serious need of replacement.

Other than that, I just want to save, until I have at least a year's living expenses. Having some measure of financial security matters much more to me than buying more 'stuff' at this point. We'll also start overpaying the mortgage, and work towards being truly debt-free! :j

Buffythedebtslayer

I really want laser eye surgery.

so that is first on my list. Then a holiday some where hot.

and a lovely relaxed I don't have to work two jobs to survive feeling. that will be good.

xx

yellowduck_2

I don't know, only got into debt by having to survive as a single mum, ran up debts paying for necessities as got no child support. I've never had much and now am contemplating retirement with hardly any pension as have never been able to pay into one. Sorry to be on a downer, but altho I am very proud to have raised a child by myself and paid off a mortgage by myself I have never had a car, had very few holidays, always struggled to pay bills. My debts is not massive but feels that way to me. Too sick to work at the moment, tho exploring the idea of some part time work, but now my age is against me. I have had a life time of struggling with money, it's hard on your own. I do appreciate the simple things, friends, a sunny day, a good book, but I cannot see a time when I do not have to worry about money.

Geedoubleu_2

I've just made it this week!!!!

After 3 years I've reduced my non-mortgage debt from about £32,000 down to £0.

No credit card, no overdrafts and no personal loans, HP's or anything other than my mortgage.

Took 3 years total, 2 years of disciplined spending after my "Eureka" moment and some good luck this year with a lucrative contract to finish off the last £8,500!

I've even managed to overpay my mortgage by £6k too so feel really contented.

Now I'm here it's a bit of anti-climax, I don't want to reward myself by spending money, I never want any debt anymore, I don't think I can even handle a 0% credit deal even though I have the money in the bank.

Just the self satisifying feeling of not having to worry about money is reward enough!

saintly_2

my dfd is the month after my wedding so starting married life with no debt, i just cant wait to go on a spending spree and buy what i want when i want (still within reason of course). ill be debt free in august 2011 and 30 on the 27th december 2011 so wanna have a few months just for me because i have had all of my 20's in debt. Come 1st Jan it will be save save save for a house deposit and a lifetime of no debt as I have a wonderful OH to support me with it!