What are your plans for once you are debt free?

PollyOnAMission

Other than my mortgage and student loan, my debts are now all on 0% credit cards ending in 2013. Although I could pay them off earlier to become debt free, I've decided to start saving instead as they are at 0%.

Once I have some savings I am hoping to move house. Then I would like to build up an emergency fund, then make regular overpayments to my mortgage and start saving for when I start a family.

I intend to keep the budgeting skills I've learnt for life. I'll never be so frivolous with money again!

antonic

Have a decent holiday and get my LFC season ticket back off my dad (but why would I want to after the last season ? - I need to get my bumps felt !).

GreenSaints

Apart from my student loan and BOM loan, I have just one overdraft to pay off which will be in July 2012!

I still count those other debts, but they aren't with the bank and therefore I'm free from them!

The next goal is to get my boyfriend sorted out with his debts (no where near as bad as mine!) and get mortgage free.

I know what you mean about the constant schedule drawing and DFD calculations - I was just the same last year. It's very exciting, but people get bored of hearing about it, but I didn't care. I'm proud of what I have achieved - as should everyone on here

Good luck with your journey

nicnacnoo

my DFD is October 2013, hoping to get that down to June 2013 by making a PAD and paying any extra whenever i get it. I dont know what its like to be debt free so im not sure what i'll do!
My main plan is to have savings of at least 3 months wages and treat my kids to a holiday in the sun

Deep_In_Debt

My debt free date is March next year so I intend to go part time at work as I only have a small mortgage and spend more time doing the things I enjoy.

Barbeduk

Hi, thanks for starting off this thread Youngbusinessman

I really hope to be debt free in 6 weeks, then it's time to save, save, save! Have already set up a standing order for mortgage repayments to start on 1 July. I've also got to set up all my little savings pots for insurance, holidays, Christmas etc. and an entertainment budget would be fabulous!

Teacher2301

As of last year anyway and my other half has just clear their cc, so we are officially debt free for now. So what do we do. I have a great book by Alvin Hall called 'Money for Life' and he suggests much of what MSE suggests.

All our big house jobs are done, kids are now at school so no more child are costs, loans are a thing of the past and the cc we have is paid off in full every month. I followed MSE guide on family savings and we are at the best for what we want, allowing for some nice things every so once in a while.

So my top three goals are...

1) save up at least 3 months wages- so far I have £3000/£8100, then put half into an ISA
2) set some short term saving goals- we have a holiday to sort out= £1000 for family of 4 in France camping.
3) pay more off the mortgage, we have overpaid by £3500 in 7 months so far. Still a long way to go.

andy1886

Debt free target is end of 2014 , then want to use the money to pay off mortgage in another 5 years and move to the house of our dreams living a nice lifestyle of holidays and nice things in our house whilst hopefully still working very hard . This motivation is what gets me through each and every day .

AlwaysWorking

My debt free date is probably around a year away, although I would LOVE to have everything paid off by the end of the year! I'm currently working two jobs and feel like life is passing me by as all I do is rush from one job to the other. I can't wait to be able to cut back in my hours and start living again!

wiggles01

I can't wait I dream of being debt free...I'm hoping to do it by the end of next year then I think (i hope) I will get married!!! (MSE style of course no CC'S!).....haven't told the BF this yet however...:rotfl: