What will you do when finally Debt free

Numpty_Monkey

I'll have a buggger of a hangover:D:beer:
Then i'll start getting my credit rating clear and make money from the Banks :j

Katy83

Ames wrote: »

I'm single, but I prefer going away on my own, it means I can do what I want at my own pace. Katy, Rome's one of the places on my list too, but I'm not necessarily waiting till I'm debt free. I'm saving my £2 coins for a holiday, and since I like staying in hostels I'll be able to afford a cheap city break every now and then, I've got enough saved now that I can start looking at Ryanair's sales when they have them.

Hmm, that's an interesting idea Ames, having a holiday pot just as a bit of a treat. Might have a think about that one.

My credit card debt should be paid off by the end of next summer - IF everything goes to plan. Me and OH might go on a holiday then, a cheap city break sounds good. We went to Paris earlier this year, it was quite cheap but funded by credit card nonetheless...never again though.

Numpty - Loving the idea of the hangover! :beer:

Mozette

Ames wrote: »

Just out of interest, are any of you planning to get another credit card or overdraft? I'm not, but I'm always worried that when my credit rating picks up the temptation will be there. So much so that I've considered getting a card, buying something for a tenner on it and defaulting!

Still got my overdraft and planning to keep it (at nil balance though), will keep most of my credit cards - I get cashback, and it's useful. Just because I've got them doesn't mean I have to use them!

craigp_2

I will save to buy my Mum and Dad a holiday to say thanks for all the help with everything and for myself which is quite sad I know a Ford Sierra RS500 cosworth

mrstodd3172004

I will treat my children to a trip to the Natural History Museum, to see the dinosaurs, then I will start saving up to take them to Disneyland. Although they are only tiny, and don't have a clue about finances, I feel that I should say sorry to them somehow, for all the things I've made them miss out on, whilst I have been payng back my stupid debt. Same goes for my husband.
(Am quite liking the idea of a massage for me though!)

MoneyMagnet

Ames wrote: »

Just out of interest, are any of you planning to get another credit card or overdraft? I'm not, but I'm always worried that when my credit rating picks up the temptation will be there. So much so that I've considered getting a card, buying something for a tenner on it and defaulting!

I still have my old cards & o/d - I don't use the o/d at all. I still use the cards for convenience, but pay them in full each month. I don't plan to get any more and certainly don't plan to get into debt again - I'm cured of any desire to spend what I don't have now (I've kind of gone to the other extreme actually, & hardly spend at all unless it's stuff I need!)

I think there should be some way for people who think they can't control their spending to opt out of being able to get credit - kind of how online casinos will let you ban yourself from playing if you're a compulsive gambler.

ghostmadlittlemiss

Once I'm debt free (roll on Jan student loan), I'm planning to save up to take myself and my boyfriend out to see Phantom of the Opera, with a nice meal as well. I've always wanted to see it (and am seeing the sequel the first time it's ever shown in Feb :j ) and the meal out is a way of thanking my boyfriend for all the hell he's been through for me.

My original plan after that was to start saving for a house and wedding but now I want to travel first. So I'm planning to work for a while in a menial job until I've got enough money to go and do some travelling and volunteering abroad for 3 to 6 months, then settle down in a steady job. I've always said I could never handle it but I might actually become a teacher.
Kayleigh

shadydaz

craigp wrote: »

I will save to buy my Mum and Dad a holiday to say thanks for all the help with everything and for myself which is quite sad I know a Ford Sierra RS500 cosworth

Not sad at all mate, I can't wait till I have my Escort RS2000 sat in the drive...good to see another classic ford enthusiast on this site!!;)

edinburgher

Great thread - perfect for those moments that we all get where we're down in the dumps and can't be a**** with it any more

My debts aren't so bad nowadays, but when I first started to panic as a student I owed £8k, unsecured, and I was earning less than the minimum payments each month and had rent to pay.

I only have to pay about £110 a month these days and the interest has been frozen for 3 years (and is staying frozen), meaning there's little rush to pay it off. That said, the £110 will be put to good use when I get it back, with some wonderfully boring pension overpayments, contributions to a stocks and shares ISA and savings for the kids I hope to have in a few years

I've already had my reward for making it through the worst of my debts in the form of a total change to my mindset as regards money and life:

1. I used to waste hundreds of pounds a month on my own pleasure and non-essentials - these days I agonise over most purchases and value my enjoyment of life not in the things I own, but the time off of work spent with my GF and relaxing
2. I never planned for the future - now I'm clearing my debts, try to save a little and pay into a pension plan (with regular overpayments)
3. I used to try to 'compete' with my peers, in that we all led thoroughly wasteful lives as students and bought everything we fancied - now I've grown up a bit I realise that the opinions of others don't put food on the table!
4. I used to change job every six months or so, as I chickened out the moment I found something I disliked about a job - since facing up to my debts I went back to uni, started a professional career and have stuck with it for the last three years or so. It's a start :rotfl:

So, I'll be debt free in two years or less (I'm sure less), but having to 'grow up' as regards money has been the best reward of all. I'm just glad I'm young enough to enjoy the lessons learned.

honeybear_2

This is a great thread :T

I've read through & I still have no idea what I'll do when I'm debt free. :rolleyes: I guess it's such an unimaginable thing for me that I just can't get my head round it, & I normally have such a good imagination

I do like the idea of having savings rather than debt though