Will you treat yourself when you are Debt Free?

YoungBusinessman

Save, save and more save!! Then once i hit a decent milestone (maybe £20k)....i will treat myself to a new bike/van.

I wont be out of debt for at least 5 years, in this time i will be buying my first place and more than likely getting engaged.

Life is for living people, you do need to stay sane as you go along.

GreenSaints

I don't really know what I'm going to do.

I'm hoping to be debt free by 30 (22 months to go!) so might drown my sorrows!

backinbusiness

quantic wrote: »

I actually find it quite difficult to spend money now, have told myself that once I reach 3k savings next month, I'm gonna have a break for a few months and buy some nice toys (I told myself this at £500 and £1000)...

Feels nice to have the choice though, feel much more patient, something comes along I want to buy and I have no problem waiting a few months until I can buy it in cash.

Still feel like I worry about money though, in the same way I did when I had none, which is weird.

This is me!

I did reach my magical savings total, and then I had my car stolen. Won't bore you with the details, but the insurance didn't pay out.

That scuppered things somewhat but I've reached the magical total again. And like you I keep thinking just another £500 . . .

MSE totally ingrained - which is no bad thing.

Debtfree 18 months and still struggling to find the balance.

BiB

ben80

Will you treat yourself? Hell yes!

I'm going to buy a new car (used, but new to me!) One I've wanted for 5 years. I'll have £1000 spare each month and I've learnt to budget well, so I'll carry on for 18months and get this awesome car - and not the minimum spec, I'll wait and get the best one I can... because I can!!

But for the first 6-8 months I will be (I've already budgeted, including £100-300 savings a month)
- Buying new glasses (mine are 3 yrs old!)
- Buying a decent, all inclusive long-haul holiday for my partner's 30th
- Replace my wardrobe... in its entirety, they're all old and tatty-looking. I want nice stuff. I think I deserve it after mega-discipline for the past 4+ years!

After that I'll be saving for a house, then I'll be reducing my hours at work, I'll be working to live.

mavvymoo

I became debt free a few months ago and thought I would treat myself once I did.But it becomes addictive and now I am going after the mortgage (hoping to clear it around Christmas this year) Then I want a bit of savings put by.
Then I am going to treat the family to a holiday as we haven't had one for about 7 years
Good luck to everyone just keep chipping away at those debts you will get there:T

quantic

I don't know if its just me but I think I've had a little bit of the old, "want what you can't have", going on. Now that I can buy the things that I have been pondering over I'm actually not that bothered by them.

I swear buying things with credit/debt somehow makes you think its not your money. When you actually have the cash in your hand to pay for something you want I swear its much harder to part with haha.

Kind of ironic because buying it with credit actually costs more so logically it should be harder to mentally do it that way!

mavvymoo

quantic wrote: »

I don't know if its just me but I think I've had a little bit of the old, "want what you can't have", going on. Now that I can buy the things that I have been pondering over I'm actually not that bothered by them.

I swear buying things with credit/debt somehow makes you think its not your money. When you actually have the cash in your hand to pay for something you want I swear its much harder to part with haha.

Kind of ironic because buying it with credit actually costs more so logically it should be harder to mentally do it that way!

Totally agree with this. I wanted loads of things but now I can have them I never really needed them in the first place.
When I go shopping I think about everything I am about to buy and I reckon 80% goes back on the shelf ! I am the retailers nightmare lol

naimone

First treats already bought. Debt free six weeks ago after many years of indebtedness. Replaced the car that I'd been driving for the past 8 years with a brand new one (Nearly new deals weren't as good on the Focus I wanted). Also had the front room fireplace replaced.

These were both planned purchases. We have paid on 0% cards, the money we were previously using to pay off debts is now going into a savings pot at 4%. When the balance on the car is due in two years, we aim to pay it with another 0% purchase card and keep gaining the interest on the savings for as long as possible.

Money in our pockets and not the banks. Just as it should be.

In the best MSE traditions, the car is zero road tax in the first year and £30 per year after that. Economical engine and I'm much gentler with the accelerator these days. Planned debt feels so much better than unplanned.

LianneH

When we became debt free we planned a celebration day-trip to the zoo, not a massive thing but both myself and OH saw it as the first day of the rest of our lives!! Our DD is only 3 so she had a fantastic day seeing the pandas! This day out only cost about £50 but it was the best treat ever!

Our next treat was to save, save, save and its been difficult to part with the cash without feeling guilty that I should be keeping it in the bank!

We saved and redecorated the house - something badly needing done since paying off debt. now we are saving for a new (not new but a different!) car, but that might take a while now since baby number 2 is due to make an appearance any day now!! :rotfl:

Wood.Justin

Interesting question! I would have hoped that the things I learn along the way to being debt free will stick with me so I may not be so flash with the cash. :cool:

I read someone mention they'd like to have decent savings, I think I'm going to go along those lines because that's one thing I've never really had other than when saving for a specific event i.e. holiday, birthday, trip etc.

As far as materials go, my next step is to save a big deposit for our next home so we have less of a mortgage. However between now and then I want to have a nice holiday with my OH and just not worry about money.

I really am not set on one specific item, but I think the whole not worrying will be the main thing for me.