I Just Want To Retire Debt Free

Purplebonnie

A question. Has anyone else having started on your debt free journey also felt the need to sort out other areas of your life? The debt challenge seems to have spurred me on elsewhere. I need to lose about 4st 6lbs and one month ago I signed up for Slimming World Online but haven't really bothered using it. Wasting money is as bad as spending money you don't have, right? So I am going to use it now and get on with losing this weight.
Another area that needs sorting is all my clutter. I am never going to be a minimalist but I definitely have too much stuff. We downsized a few years ago and a lot of our stuff went into storage in someone's loft. They have now had the loft insulated and we have been given all our stuff back. 30 years of stuff! So I also need to start sorting it and getting rid of it. But, how can I get rid of a bag of moth-eaten teddies without feeling like a murderer!

[Deleted User]

Morning,

Thanks for popping in on my diary.

With regard to your question, in my case it's a yes, I'm forever analysing things and trying to find where I can change things.

Have fun with the grandchildren x

enthusiasticsaver

You sound very focused on the debt clearing and 2022 does not sound that far away scarily. Is it possible to use your pension lump sum to clear it when you draw your teachers pension?

You sound a similar age to me and having low outgoings (no mortgage) really helps with reduced income. We have had a year now on my DHs pension and my part time salary and managed better than we thought. You are right about grandchildren costing though.

Decluttering goes along with debt clearing. You are shedding burdens and clutter or useless things are a burden. You have to be brutal though. I sort out stuff into three piles. Stuff which can be sold or freecycled. Charity shop and dump. If the teddies really are moth eaten I think you need to send to the dump sadly. Dangers of keeping stuff in lofts. Ours has Christmas decorations, cases and the odd box of stuff I know I will need again at some point - travel cot, highchair etc for future grandchildren.

Good luck.

Purplebonnie

Thanks Purplemumof2 you have a good weekend too

glass_half_full

Hi Purplebonnie,
Your diary title caught my eye, I feel the same way! One thing, you can check you SPA online if you google it.
On your question, I definitely think there is a link between debtbusting and decluttering and general sorting life out. For me, that link is simplification. Its hard about the teddies though! Some things we couldn't throw out, but 90% of our clutter of 20 years is now gone. We used a combination of donations to schools, charity shops, car boot sales, and many, many trips to the tip!
Good luck with your journey!

Purplebonnie

Hi Enthusiasticsaver.

We can use my pension pot for clearing the debts, but I am hoping not to have to. We would like to buy a campervan and spend our retirement exploring and having new adventures, obviously the less debt we have the better the van
Low outgoings is a blessing isn't it, it does give you more options.
The teddies really are moth eaten and will be headed for the tip today, it is just hard getting rid of memories.
Have a great weekend

Purplebonnie

Hi Glass_Half_Full,
You have hit the nail on the head with simplification. Having reached a certain age you realise that stuff isn't so important - families, friends, making memories and peace of mind is far more important.
Have a great weekend

enthusiasticsaver

Purplebonnie wrote: »

Hi Glass_Half_Full,
You have hit the nail on the head with simplification. Having reached a certain age you realise that stuff isn't so important - families, friends, making memories and peace of mind is far more important.
Have a great weekend

I agree 100% with this. I can happily stick to just food shopping with the occasional trip for something which is needed. I am no longer interested in things. Experiences yes, nice meals out and theatre trips, holidays, seeing friends and family. Buying stuff is something I just don't do now and definitely I love the security and peace of mind of knowing we don't have debt and have a savings cushion.

Purplebonnie

Hi EnthusiasticSaver

'I love the security and peace of mind of knowing we don't have debt and have a savings cushion' and that is where I definitely want to get to.

Moneywhizz

Purplebonnie wrote: »

Hi EnthusiasticSaver

'I love the security and peace of mind of knowing we don't have debt and have a savings cushion' and that is where I definitely want to get to.

I can echo that. I have been free from debt for a long time but am still grateful for the position I am in now, with savings behind me and the freedom to choose how I want to spend my money.

It's well worth the short term sacrifices to get to that position. Well done for realising this.