How will life/spending change for you when you are debt free?

lynzpower

you might be surprised actually.

im spending wildly at the mo :eek:

Queen.Bess

Garnet_Gem wrote: »

Debt free means being able to sleep at night.

That is something I will look forward to! Also not having to scrutinise my bank accounts and credit card limits!

I think DH and I will be able to say to 'why not?' rather than 'we can't', so that will be a very good feeling!

racer256

I plan to get on the property ladder ASAP, save for a deposit on a house and start motor racing- an expensive hobby!!! To build up savings and seeing it grow.

DFW values will still be the same.
x

Queenie

When I took over managing the finances and got us out of debt, the greatest 'challenge' I had to face was my dh's attitude towards being *able* to now spend

I felt it was our chance to save (seeing the interest added each month was loverly ) But he felt that now we had some disposable income we should enjoy it.

So, what we did was write out our wish lists: His, Hers, Ours.

We both wanted to feel we were getting something out of his working, my budgeting/cost cutting, so we costed up our wish lists and treated ourselves to the lowest priced one's and then set up a budget for the more expensive one's - in the same way that we'd had several payments towards several debts, we now had several payments for several 'rewards'.

We double glazed the house; we had a trip to New York; we budgeted for two mini breaks away per annum for the family and we also started a car fund.

The actual budgeting didn't alter - just where it was going

BrokeWelshChick

I will start on becoming mortgage free (had my mortgage statement yesterday :eek:) and saving up 3 months salary.

All very boring I know but financial security for me and my DS.

Gemmzie

Save for a deposit, have three to six months wages sat in the bank for emergencies, go travelling, be a savvy student

taxi73

What a great thread!!
When I'm debt free..I am going to continue to continually check that I'm getting the best value for money on everything just as I do now and keep applying the same values to my grocery shop and any other form of spending..that is my most valuable lesson learned.
I am never going to use credit to buy anything again ..unless...it's too my advantage..ie interest free for a year......or cashback
I am going to do the house up along side building a big savings pot and if we don't have money for something we'll do without it!!
This is a debt-free lesson for life!!!

scorpioto

I can't remember the last time I was debt free, this time I have set my mind on getting there. Probably the first thing I will do is start saving for my retirement which if my debt plan goes as expected will leave me just 3 years. I would also like to take my wife on a really nice holiday, although I am hoping to take her away for her 60th next March. I think that I will be so releived to be debt free I probably won't know what to do.

trish06

when i am debt free,i want to buy my own home :beer:

i want to be able to look for my home,and ask the bank for a morgage

this will probably take me about 6/7 years,before i can get to this stage