What do you plan to do in the future when you're debt free day arrives?

sharronej

There's a definite theme here! I too would
# Book our first holiday abroad (we've never been able to afford a foreign holiday in the 21 yrs we've had children)
# Save an emergency fund perhaps 3 months living expenses
# Start saving for our eldest son's wedding - he's just got engaged
# Over pay the mortgage.

So just like everyone else really - a splash out to celebrate then save, save, save....and thanks to this site we'll all make it to our DFD!!

persian_star

We hit the magic debt free date on payday at the end of July, and yes, it was a massive sigh of relief. We still owe money to Mum and Dad, but on that magical day we officially had more in savings than was owed to them, so if at any point they need it all back right away I can pay it. They wanted us to get into the habit of regularly saving, so that when we get to mortgage time, the banks can see our track record, since I've been in debt my ENTIRE adult life!

So - what did we do? Nope, no expensive holiday - would probably put us back to square -5. Already married (how do you think we got in the mess in the first place?) Actually, the highlight of my day was being able to tell my friends on Facebook that after all that scrimping and saving, we'd done it.

Next step - saving towards a deposit, buy a house, decorate house (been renting a tiny mouldy flat for 7 years. SO looking forward to personalising our home). Have children? Assuming we haven't left that far far too late. Overpay on mortgage. Original, aren't we Not going to bother with an emergency fund - surely our savings count as that just by existing?

But FIRST - we're having a party! A FRUGAL party, for hallowe'en. Our guests aren't allowed to bring more than £5 worth of drink, and costumes are obligatory but must either be found at charity shops/freecycle or existing wardrobe items.

Woooo! Debt free!

mrsb83_2

Big two week holiday, then saving to clear our negative equity and a deposit on a new place.

Kitten_Pie

Should be debt free in 2 months, maybe this payday if i can get my spending lower by £100 this month. We won't be doing anything grand as have a baby (sorry 2 babies) due at the end of November. Just so thankful that I started my debt free journey July 2008 otherwise I don't know how I would consider taking maternity leave at all. Thankfully my payments will reduce substantially the same month they arrive along with my monthly wage, such a lovely weight off my shoulders especially with all the other things we have to consider.

Elmo1985

I'l be debt free next year if all goes to plan

Want a nice holiday and start saving for a deposit for house double the size of the one we are renting at the minute aaaah dreams! :S:D

dell33

We will hopefully be debt free by Sept. 2013, 2 years of frugal living, we will also reduce our Mortgage to a manageable figure.

When we are Debt Free I hope to be able to relax a little more and stop worrying and blow away the black cloud hanging over me. Will then build up a savings fund.

QueenB.

Having achieved that magical DFD this month i have felt a real sense of relief and no longer feel the guilt that i did being an in debt parent. I have spent too many years saying no to my kids because of our debt, even the smallest thing could be a problem and school holidays and other school related costs had become a constant monster that could literally make me worry myself sick:(

Many times my kids have said to me 'we are poor aren't we' and living in a relatively wealthy area that was hard for them. Luckily we are a close family and my kids have many happy memories that often came from me having to be extra creative due to our debts.

August was great because for once i could say yes to the odd treat and we had many wonderful days out (though we still got great deals:D)

We have finally started saving which is a great feeling, its just a general savings but it feels good to have that little cushion there should we need it.

next on the agenda

1. Go on our first holiday in 9 years.........the kids are so excited:D
2. Have a great, relaxing DF christmas............especially as there have been many times that my OH and I could simply not afford to buy each other anything at all:(

3. This one is a bit strange but being DF means i can consider giving up work or reducing the hours. Between us my OH and I have 3 full time jobs and i only went to work in the first place to be able to get DF. I want to be at home more and be able to be less stressed and able to attend their school functions. My son attends a Special needs school and my job meant neither his father or i could take him on his first day of secondary school which was painful:(

Once all of the above is done i guess its just more saving and maybe buying a new (second hand:D) car.

Just becuase we are now DF i am all too aware how easily something can change so i still live carefully and keep to alot of the practices i have learnt through here, the great thing is that before i had to do these things to become DF now i have the choice and that is what being debt free really gives you .......Choice.:j

Stevev99

Can't wait....did owe about £52k about 3 years ago, down to the last £8k, due to be paid off by July 2012.

Extra bonus is that my son from 1st marriage finishes his A levels next year and leaves full time education in Sept 2012, so no DMP payments and no maintenance from end August 2012!! :j

Slap up meal, small holiday.

MOST importantly, treat my wife to a Spa day since this debt nearly destroyed our marriage 3 years ago and yet she stuck with me which was amazing and I can't thank her enough since none of this debt was hers and she didn't know. She hates credit apart from mortgage (has never had a loan or a credit card).

Change mortgage, get off this crazy fixed rate of 6.5% and start overpaying that plus build the savings back up.

Lastly walk around with a smile on my face for a week !!

Cannot wait, counting down now in stages with thoughts like 'last Christmas in debt', last Easter in debt...sounds silly but every month I log onto CCCS and smile as I see the debt in single thousands now and last 2 coming down in big chunks now....

gargrave50

The new answer to this question is bugg@r off to Australia . The sooner my debt free date comes - the sooner we go!

Forever-Skint_4

I want to save, then have a baby.

I'm so desperate for one, broody is not the word, but I wont let myself get pregnant until my debts are cleared... Which should be in 2015/2016 at my current rate... hopefully sooner!

The other half agrees with me on this so its all good!