Out of debt but out of sorts

Happy_Kitties

I have to admit to struggling once in was debt free. Had been in debt all of my life and then going into an IVA it seemed never ending. Once the final payment was made it was all about waiting the 3 months for my name to come off the insolvency register but i did feel flat at the end
I did have help from Payplan, they did a follow up phonecall to make sure I was okay as I had expressed I was worried that I didn't know what to do and a debt free life was alien to me.
I also joined the debt free thread which has helped keep me on the straight and narrow and accountable to me. Have also thrown myself into other challenges.

But it has been lovely seeing the house decorated knowing I haven't got into debt doing it I just had to look for some new aims of what I wanted to do and slowly I realised that the skills I had leant on my IVA and my attitude towards money had completely changed and that I would be okay.

Well done for getting debt free

thickasabrick

First of all congratulations on becoming debt free. It’s a wonderful achievement and takes a lot of determination and patience.

It’s only been 13 days debt free for me on a 6 year plan so way too early for it to sink in.

Made a pact with myself to not go wild for the next six months. So every time I plan a blowout I’m putting what I would have spent into savings.

Have created a “net worth” spreadsheet ( based on the spreadsheet from The Escape Artist blog ).

So far I’ve put £666 into my SIPP ( was looking at a Samsung S9 mobile). £333 in my Stocks and Shares ISA ( looking at a Samsung S8) and again another £350 to the S&S ISA because I found another “cheaper” brand new S8 on offer and was struggling to resist !

Feeling good that I’ve placed the money into investments rather than liabilities. Still finding it hard not to splash out so I’ve doubled my pension contributions from 10% to 20% as well and now looking forward to see it’s effect on my net worth and my target of achieving financial independence.

Have even added in the target net worth calculation modified from “The millionaire next door” so now have a new target which is on the other side of the debt free one.

Debtfreeforever wrote: »

I know I should be incredibly happy that I'm debt free, only took me 15years .

And I'm very happy and so grateful and I do get those moments of pure elation, but did anyone else feel out of sorts at times?

I think it needs a bit of time to sink in and I'm just so worried that I may go back there...

I don't won't to sound like an ungrateful !!!!!!!, especially to those that are still in the midst of it....

Debtfreeforever

Yah know you happy kitti, I can totally sympathise with this.
As we have been in debt for such a long time.

I now LOVE budgeting and getting a thril out of putting money into savings :T:T

Debtfreeforever

Thank you very much, after tw months I feel like I'm easing into it a lot more.

I need to look up the escape artist blog, sounds interesting.

thickasabrick wrote: »

First of all congratulations on becoming debt free. It’s a wonderful achievement and takes a lot of determination and patience.

It’s only been 13 days debt free for me on a 6 year plan so way too early for it to sink in.

Made a pact with myself to not go wild for the next six months. So every time I plan a blowout I’m putting what I would have spent into savings.

Have created a “net worth” spreadsheet ( based on the spreadsheet from The Escape Artist blog ).

So far I’ve put £666 into my SIPP ( was looking at a Samsung S9 mobile). £333 in my Stocks and Shares ISA ( looking at a Samsung S8) and again another £350 to the S&S ISA because I found another “cheaper” brand new S8 on offer and was struggling to resist !

Feeling good that I’ve placed the money into investments rather than liabilities. Still finding it hard not to splash out so I’ve doubled my pension contributions from 10% to 20% as well and now looking forward to see it’s effect on my net worth and my target of achieving financial independence.

Have even added in the target net worth calculation modified from “The millionaire next door” so now have a new target which is on the other side of the debt free one.

enthusiasticsaver

Check out the savings, investments and pensions board to set a new goal. If you have a mortgage still maybe open a MFW diary. Being out of debt is great but staying that way can be a challenge. You still need to budget.