When will you call yourself debt free?

nearlyrich

We paid off our mortgage too but I am a bit older than a lot of the posters on here, my personal opinion is debt free means no CC no loans no money owing to parent, friends etc. I think having a mortgage is OK but obviously it's nice to be living "fee free" in a house that is secure and yours. Car loans are still a debt, home improvement loans are still a debt and even student loans are still a debt althought low interest and a way of life for many people now.

Seems like there are lots of DFW's on the last few hurdles to being debt free, can't wait to see you all on the Debt Free roll of Honour very soon.

LookingAhead

I'll call myself debt free when all I have is the mortgage left.

When the mortgage has gone I'll call myself ecstatic

ZTD

LookingAhead wrote: »

I'll call myself debt free when all I have is the mortgage left.

When the mortgage has gone I'll call myself ecstatic

You'll have to get your passports changed and everything - that's not very moneysaving...

affordmylife

When you look at the massive amount of interest mortgage companies charge i have to look at it as a debt and will not consider myself debt free until it has gone. once i have cleared my debts only about two months to go i will be putting the extra money available towards my mortgage in order to reduce the number of years and amount of interest they can charge me. then i will be debt free.

webitha

i will be debt free when i pay the last payment
only got 1 debt left :j
but its a biggie £4800 :eek:
so ive got 18 months to do this as that is the time left on OH loan

then all we will have is a mortgage and that is tiny apperently only £28000

cross your fingers for me guys im aiming for deft and mortgage free before im 40