What motivates you to become debt free?

Hippychick

Hello everyone,

I was thinking the other day about what is keeping me going in this quest to be firmly in the black and thought it would be interesting to see if anyone else has a major motivation to keep going.

Basically I have three motivations now:

1.I suffer from rheumatoid arthritis, initially this illness (pre LBM) was the cause of a lot of my debts, i spent to try to feel better if you get my drift. Post LBM I have realised that I could potentially get sicker very quickly and would be stuffed if I had to stop working and still had loads of debt. So aim is to repay it before I get even worse medically.

2. I really want to go to New Zealand so once debt has gone i'll then start saving for that dream holiday.

3. In about 5 years DH and I want to relocate to the coast and hopefully buy a house so need to save as much as possible towards that.

anyway thanks for reading I look forward to hearing about other peoples motivations

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hypno06

I want to have less stress in my life, and less pressure for OH and I to work as many hours as we do.

I want to be able to help my children through University - our current snowball date coincides with our oldest doing her GCSEs so am on track for that one.

Ultimately I want to move house, but I know that this is a "want" not a "need".

nickiboop

I want to pay off all debts and mortgage by the time I am 45 so that there is a possibility of one day retiring!

scottishsuz

The thought that one day I *will* be able to afford my dream house, if I can clear my debts and current mortgage I can put all of the payments in savings and I'll have a big enough deposit to get it. I know its a want not a need but if your debts are cleared I think you're allowed wants within your means.

Edit: Thought of a few more while mulling this question over;

1. I'd like to be able to go clothes shopping again!
2. I'd like to be able to buy really nice butcher meat without restricting myself.
3. Be able to comfortably afford a horse instead of scrimping and saving.

frosty

We want to be debt and mortgage free by the time I am 46,then all the money paid in the bank each month would be ours to spend on ourselves,after paying bills of course.

If I dont come on here each day I start to slip abit.
we owe 10,000 on our mortgage and 9,000 on a loan which I plan to pay off early.

auntie_brenda

Pay debts & mortgage off by 50. Brings forward the time I can sit on a terrace in Spain and watch the sun go down - every night - :cool2:.

Thanks to this site I really believe it will happen :T .

xela_17

I want to be debt free so I can spend my money on me without feeling guilty and feeling that I should be paying towards a credit card instead.

I want to save save save for our big trip to the west coast of America next year.

And lastly I want to save save save some more as we plan to move to Canada in a few years time.

So excited to be debt free! Not long now (if only bloody car would sell :rolleyes: )

fistfullofdollars

I want the freedom of not having to worry about meeting monthly payments. I want the luxary of saving my current monthly outgoings on debt so if I see somthing I want i.e. a new car would be nice! Save for a couple of months and buy it with real money.

But overall, my wife is debt free and I dont want to burden of feeling like its my fault I ended up in a mess. I want to save for good holidays and a better standard of life.

Notice I use the word save! Thats the new me post LBM. I used to do all of the above without thinking and battering it all on the plastic. How things have changed for me :-)

mrsspendalot

I want to be able to buy a house and not have the stress of monthly commitements to meet

coops024

Just the thought of not having to pay all the big companys huge amounts of intrest !

Thats what winds me up more than anything :mad:

I dont mind paying for things but car and house are 2 things that most people have to get into debt for and the intrest just kills you !

madmoney_2

i want to be able to give my son the life i could have had - he needs a kickstart in life n i never got that so it would be good to be able to buy him a new car n pay for his uni fees without worrying (ive got a good 14 years yet tho lol)