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What will you save when your debt free ?

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Comments

  • ill be saving it and saving it and only then buying a car and then save and save and save and actually have savings.
  • Aj_eye
    Aj_eye Posts: 80 Forumite
    good question
    I'll put the money into a house, but first I'll treat the family to a holiday.....
    Living with the legacy of bad decisions....but Proud to be dealing with my debts !:j Official DFW Nerd No. 362
  • skint_spice
    skint_spice Posts: 13,720 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I'm hoping for a month off to buy some clothes and a break for me and the lad then it'll be 100% towards savings so we can move to nicer house. have niggling feeling the car may not last much longer though...
    Mortgage OP 2026 £640/2000
    Mortgage balance: £32,240

    Make £50 a month Jan £20, Feb £0, March £31, Apr
    Boiler fund £1981/3000

  • SuSu1871
    SuSu1871 Posts: 535 Forumite
    Great post! It's thinking about what I'll do when I'm debt free (in around 2 years - 18 months if I'm very good) that gets me through.

    It's the same kind of backward thinking that says the best way to lose lots of weight quickly is to have ten pints of lager and a kebab every night for ten years and then stop! I'm currently paying a minimum of £900 a month in debts, so I'll be able to save at least that every month.

    After I'll have cleared around £26,000 of debt in two years I've set myself a target of saving £30,000 in two years. Then I'm going to move back up north and buy a house (I'd have to save around £100,000 to be able to afford a house down here!)
    £27k (excluding interest) paid off in 29 months
    Finally debt free!
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