What will you do when you are debt free?

nancmat

Get a new roof for the MX5
Start overpaying on mortgage
Start saving
Buy some decent running trainers
Get the diamond missing in my wedding band replaced

kdenty

Take my parents out for a lovely meal they have helped us so much (lending money, buying things we needed as Christmas/birthday presents, taking us out for food etc). I would love to repay their genirosity as best I can. They live so far away now but I know they plan to move closer to us so I can then spoil them rotten.

By the time we are debt free will likely need a new car. But plan to ensure we can pay for it. So plan to save a bit. Don't ever plan to spend now, pay back tomorrow like we did!

loopy.magic

kdenty wrote: »

Take my parents out for a lovely meal they have helped us so much (lending money, buying things we needed as Christmas/birthday presents, taking us out for food etc). I would love to repay their genirosity as best I can. They live so far away now but I know they plan to move closer to us so I can then spoil them rotten.

By the time we are debt free will likely need a new car. But plan to ensure we can pay for it. So plan to save a bit. Don't ever plan to spend now, pay back tomorrow like we did!

You're very lucky to have such wonderful parents, not everyone is so fortunate.

goodgirl80

Build up savings in an ISA
Look after my car properly

rictus123

loopy.magic wrote: »

You're very lucky to have such wonderful parents, not everyone is so fortunate.

I will second that!!! My parents have not really helped me with anything since i was 16! All i have from them now is a roof over my head for cheap sum of £100 a month. Should be grateful i suppose but when everyone was turning 17 and getting handed a car it was annoying!

sickbean

Start to massively over-pay the mortgage and build up 6 months expenses in cash.

andymc29

Save up to propose to my GF
Replace my 11 year old car
Start saving towards buying my own house
Have a big holiday without feeling guilty
Be able to buy clothes without worrying about the cost

foxgloves

Well, I gave up work, as amazingly, once the debt had gone & I had become a budget-queen instead of an habitual overspender, we realised that we could live on one income. So the first thing we did was drop down to one car by trading both our cars in for a brand new one. We booked a week's holiday & upgraded a few things that were in need of replacing. Our main thing is to enjoy living debt-free. We don't want to go on a big spending binge as we have managed to build up a little bit of an emergency fund and we know from experience how quickly this can be wiped out by a big repair bill or similar. So, we are living a simple, environmentally friendly lifestyle, growing lots of food, cooking lots of nice stuff, enjoying the countryside, dropping a bit of weight from all the fresh veg & walking and really LOVING that the debt (as of last month) has finally gone, after over 20 years of failing to live within our means (& mostly not even trying till we had our LBMs!) There is NOTHING comes close to the feeling of paying off that last bit of outstanding money. Keep this in mind if you need inspiration......you will LOVE it!!!

saltnvinegar

I will strip naked and try to complete a circuit of the fountain in Trafalger Square before the police haul me away!

:j

Eltee12

Once my debt is clear I will be in a position to look for another job with less responsibility. Am currently trapped as less responsibility usually equals less pay........