Do your friends think you are daft for trying to pay off your debts?

BigDreams

Hi
Very new to money saving and trying to get rid of my debt. However, was out with friends at the weekend and I was saying how I really wanted to get rid of our 7 thousand pound plus debt and my friends basically laughed at me and said 'what's the point? We are here for a good time, not a long time and there's no way I'd let a lack of money stop me from experiencing anything that I want to experience. Stick it on the credit card and pay it off later. If you don't, think of everything you will be missing out on.' I am paraphrasing a 3 hour conversation between 4 individuals. I want the debt gone and I am aware I am lucky, I have the option of overtime and a side hustle so with some committed hard work I should be able to get rid of it by Christmas. However, the attitude of my friends is making me feel like I'm the weirdo by wanting to be debt free and that I will miss out on everything. Did others experience this on their journey and how did you handle it?
Thanks
Big Dreams

[Deleted User]

Ignore your "friends" they have a different attitude to debt and you have yours, if you have a plan to clear your debt this year then go for it, just don't discuss it with them.

lushplus4

No, they're the weirdos for not realising debt costs a lot of money. Go for it if you can, they are probably jealous :T:T:T

[Deleted User]

The reality is that by spending now and paying later you are spending tommorows money today.

So at some point when the “pay later” day arrives for your friends they have to stop spending and start repaying. But with added interest on top.

If you pay off your debt in a year all your cash is then yours to do as you please , plus extra as you have avoided paying unrequired interest.

I wish I had realised this sooner but it has taken me to 48 years of age to change my perspective from that of your friends to this.

Don’t be afraid to plough your own furrow, it is the sensible and productive move, just not a popular viewpoint in society in the general sense.

Good luck 👍

Sea_Shell

I don't know how old you and your friends are...but delayed gratification seems to be an old fashioned concept these days.

Your future self will thank you for tackling the debt now.... it'll catch up with your friends eventually!!

sourcrates

Most people feel that way when there young.

It’s a different kettle of fish when you reach 50 with 100k of debt under your belt.

Kind of focuses the mind somewhat.

BigDreams

Thank you everyone,
I have been really enthused about tackling the debt from reading diaries here but I guess talking about it kind of burst my bubble a bit and in the face of everyone dismissing the idea I felt a bit like a lone voice in the wilderness In my gut I know it's the right thing to do but couldn't seem to get anyone to see my point of view. I think as you folks have said maybe it's best to just get my head down, save money and pay off the debt and not mention it to anyone in the real world again!
Sea shell - Frighteningly enough we are not that young (all late thirties, early forties) but there's definitely still a live for today attitude going on. Thank you all for your replies
BigDreams

EssexHebridean

BigDreams stick to your guns and your plan.

Some of our friends thought we were barmy for wanting to get rid of our mortgage. when we DID one particular frien....no, now ex friend in fact...of mine was so bitter about it she couldn't even bring herself to congratulate us - she just never referred to it at all, in spite of knowing we'd done it. that told me a lot about that person - and made me very wary of her going forwards.

I'd suggest that your attitude of wanting to know that the things you own are yours, fully paid for and owing nobody anything, is a good one. From debt free you will be able to put money aside to pay for the things you want, and not either feel that you have to compromise due to cost unless you want to, or to take on expensive finance deals. THAT is a truly good feeling, and trust me it's worth working for.

Sea_Shell

There is always a balance to strike, but if you can get to a position of being able to save for the "now" moments, they'll be that much sweeter. If that makes sense??

BigDreams

Goodness EssexHebridean, that's awful! I'd be very wary of that friend too if that's their attitude! My big dream ultimately is to clear our debt and then the mortgage. It must be a wonderful feeling seeing that direct debit for the mortgage disappearing from your monthly outgoings!

BigDreams

Sea shell, that makes absolute sense.