What will you do with all your spare money after your DFD?

chriz1000

I’m debt free, but just thought I would let you know what I’m now doing with my money.
I’m investing £650 a month in various ventures including real estate, stocks and shares including shares in small companies that are just forming. I’m also saving £250 in a high interest savings account.
I decided to start saving/investing one third of my earnings. I believe this is a sensible figure. Quite a lot of people can live on two thirds of there annual savings if they budget well and are debt free.
Obviously I’m taking a risk by buying assets rather than saving the full amount, but some of my investments will pay off and serve as other sources of income.

forsya

Save up for a year of travelling or more.

The a deposit on a house.

Would like laser eye surgery too, hate contact lenses and glasses.

Brassic

I will be another who joins the mortgage free wannabee club.

My goals\daydreams are :

1) To be able to put some money away for all 3 girls so they have a deposit or something towards a deposit for a house when they get to that age.
2) To be able to pay off the mortgage so that when we retire we can rent it out, and then go touring on a trike round lots of places - Australia, and various bits of Europe being favourite atm. :j
3) Would love to be able to extend house too, but that really is delving into the realms of fantasy.

All pretty unlikely I guess atm, but we have to have dreams, right?!

Devo

I'm gonna save up for a bit and buy myself a shiny new motorbike - woooohoooo :cool:

Miss_Penelope

I will be debt free in February 2006 and will have a whole £1,100 a month to myself after bills etc. I cannot believe I got myself into such a mess for so many years (as soon as I became 18 I got a credit card, loan etc. that was 13 years ago!!!). I can finally see the light. I am so excited at the prospect of saving!!! I want to save for a campervan, nothing fancy just something for me and my other half to go travelling round in. After that I will save for my retirement, the more I save now the less I will have to work later!

katyk_2

To save for the kids as they have asked me if they have a 'college fund' like many of their friends and I have had to acknowledge no. I have nothing laid aside for university / weddings / help with first house etc so will just have to cross that bridge when I come to it.

Meanwhile I am just about to increase our debt(!) because we have horrible, useless old storage heaters that don't heat the house well at night, heat it during the day (When no-one is in but the cats) and cost a fortune to run. So, at last, I am biting the bullet and geting quotes for Central Heating. So far looks like it will be around £5 - £6K with a further £500 to have gas connected to house in first place. Then several rooms will need redecorated as new radiators will not necessarily be in same place as old heaters etc.

Now I am having to decide if I am better adding sum to mortgage(which has 11 years left to run on the endowment half and 17 on the repayment half) or to go for a loan over 5-10 years to run alongside the mortgage.

Guess my DFD will have to wait a while....

beanielou

Just live as dont have any spare money at the mo!

oops_a_daisy

I am going to save up to start my own business next year

pounds_and_pensive

A divorce (or a hit-man )
Driving lessons (Again. Road users - this time, you were warned...)

brranger

A divorce (or a hit-man )

I wish I had thought of that!!

When DF I will Be saving to buy a bigger house while keeping the same mortgage more rooms = more lodgers = more income, then I can take it easy at work then,BTW this really is about 20years off.

Ranger