So what will you do when you're debt free?

chevalier

Defo start overpaying the mortgage. Hope to have a holiday of a life time somewhere. Replace all my clothes over 5 years old (which is most of my wardrobe by the way). But in a lot of ways I wouldn't change, ie checking for best deals etc. Because that would move my mortgage free date closer!

mrsspendalot

Well first of all we will probably take a nice holiday. Then we will save for a house deposit and hopefully will then buy a house of our own.

balmaiden

We are debt free and have paid off our mortgage, we are now in the fortunate position to be able to retire at 50 and OH at 60. This is only possible because we learned through our mistakes. When we were in debt, many years ago, it frightened us so much, we like most people learned to make every penny count, paid off our debts then our mortgage and then saved for early retirement. If we never had those initial money worries this would never have happened, so maybe it was a blessing in disguise after all.It certainly didnt seem like it,When I had four jobs at one time to make ends meet!!

lz544w

When I get confirmation that my final debt - and I include the mortgage in my debts - has a balance of zero, I think I will burst into tears with relief. When my next payday comes round, I may treat myself to something nice, not sure what, and then, the payday after that, start saving seriously for my old age!

bandraoi

Save to pay for flights to South America for a big (month long) holiday I'm hoping to take in September. Then start saving. The savings will probably eventually end up being for a house deposit, but that's at least three years away yet I imagine so we'll see.