I'm debt free

Toto

And I am delighted. To be honest with you I feel a bit of a fraud writing this, I didn't slog my guts out and work hard at it like a lot of you have done and are doing. I sold my house and cleared the lot today. It all feels a bit of an anti-climax, I think a bit more of a struggle would have been good for me (does that make sense?) I hate taking the easy road in life, I like to feel as if I have really worked for everything. No pleasing some people eh

So, from today onwards my struggle begins to repay the debt to myself, I resolve to repay every penny into my savings account. I calculated that as of today I no longer pay a single penny in interest, no loans, credit cards, overdrafts or mortgage. The saving I am making by not paying this interest is double my rent each month. So, I am now paying every penny of that plus £300 into savings and investments each month, the various direct debits are all set up and ready to go. I do feel a massive relief, and am becoming an interest bore I think, over dinner this evening I asked my kids once again if credit cards are good things or bad things... bank offers you £3,000 now to buy whatever you want with NOW, is that a good thing? Then the 30 minute lecture followed about interest and minimum repayments, using the 40 year example Martin gave on the radio today (even though the kids knew the answer was credit cards or debt cards as Mum calls them are bad). But I do wish someone had explained it all to me and lectured it till it registered when I was young.

Anyway, so there it is, a do over, clean slate even though my credit score resembles the opening scene from Saving Private Ryan, but I don't care, it means nothing at all to me.

Toomuchdebt

well done-it must be a great feeling

Tustastic

Toto wrote:

my credit score resembles the opening scene from Saving Private Ryan

That made me laugh out loud - but in a sympathetic way!:):)

Well done for sorting the debt Toto and I can understand your feeling that it has been a bit too easy. Guess now you will need to work out how to avoid getting into debt again, whatever practical and emotional bombshells life may throw at you.
Happy New Year:)

taxi73

Well done on that ...that's great...it doesn't matter how you did it...the most important thing is not to get any debt again!!!..so well done

seven-day-weekend

Well done and Congratulations!

We also got debt-free by selling a property. It was an investment property, we had already paid off the mortgage on our main home.

So...all debts gone, money in the bank and still had our house at the end.

We've been lucky.

Enjoy your debt-free status and remember the money is now YOURS!

meggie-lizzie

Congratulations! Relax and enjoy that wonderful feeling of being 'DEBT FREE'

nearlyrich

Well done don't forget to post on the Hall of Fame thread!

sophiesmum_2

Doesn't matter how you did it, just enjoy the feeling and enjoy debt free life.
Sounds like a great idea to build up your savings that way, will really make you appreciate the amount of money you have been giving away in interest.
Are you going to put it in your sig, sort of a challenge to yourself?

sophiesmum

skintscotsman

you fancy clearing my debt while you're there?

seriously though, well done

lil_me

:T Well done, doesn't matter how you did it, you've done it and you feel good about it, that is all that matters

kathfisch

Fabulous news Toto, whatever route you took to being debt free! :T :j

Congratulations and enjoy seeing your savings go up