📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Becoming debt-free and going back to 'normal' - did you?

Options
2

Comments

  • Specifically on the iPad - is it's iPadOs still supported by Apple? If not then bear in mind it will have gaping great security holes in it - and if you use it for financial stuff, then actually that might be a VERY good reason for getting shot and replacing. I'll be honest - I think you should set aside the idea of replacing the iMac at the moment, but go for the second hand replacement of the iPad - in part to break the slightly obsessive fear of spending that it sounds like is developing. That in itself could be every bit as unhealthy as the debt was in the first place, ion the longer term. 

    Why not set yourself a specific sum of money for "spends" each month - nothing specific, and if there is something larger you want you may choose to stack up some or most of that "pin money" for a few months to facilitate it - but it's money you can spend guilt free because your budget expects it to be spent? 
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • Specifically on the iPad - is it's iPadOs still supported by Apple? If not then bear in mind it will have gaping great security holes in it - and if you use it for financial stuff, then actually that might be a VERY good reason for getting shot and replacing. I'll be honest - I think you should set aside the idea of replacing the iMac at the moment, but go for the second hand replacement of the iPad - in part to break the slightly obsessive fear of spending that it sounds like is developing. That in itself could be every bit as unhealthy as the debt was in the first place, ion the longer term. 

    Why not set yourself a specific sum of money for "spends" each month - nothing specific, and if there is something larger you want you may choose to stack up some or most of that "pin money" for a few months to facilitate it - but it's money you can spend guilt free because your budget expects it to be spent? 

    Thanks for the reply - regarding the iPad, it is just used for reading books/magazines and YouTube so has no financial stuff at all.
    I have sat around looking again at all my financials this morning and have decided to go down the route I did when I was trying to get rid of my mortgage etc - have a set budget each month that I can spend up to and the rest goes into savings, as you suggest. The slight difference this time though is that whereas before I set my budget as the lowest I could to live on, this time I am giving myself a couple of hundred quid more each month so I can afford pretty much anything I can think of without dipping into the savings as long as I don't go mad.
    Still not getting the iPad though, don't really need it... ;D
    Mortgage free!
    Debt free!

    And now I am retired - all the time in the world!!
  • There you go then - great conclusions drawn all round. 
    it's a situation that, as already said, many of us can empathise with - it does need fixing through otherwise not having debt might become as stressful as having debt was! 
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • MMMee
    MMMee Posts: 21 Forumite
    Second Anniversary 10 Posts Name Dropper
    I'm no expert as I am hopefully going from debt-free to 'mortgaged-up' in the coming weeks, but I think this is what having a mid-life crisis is all about. So forget the iPad, instead pierce a nipple and go and buy yourself a Harley or VW Camper, learn to surf or paraglide and get a sleeve or two of tats.

    Life is short :)
  • chubsta
    chubsta Posts: 497 Forumite
    Part of the Furniture 100 Posts Name Dropper
    MMMee said:
    I'm no expert as I am hopefully going from debt-free to 'mortgaged-up' in the coming weeks, but I think this is what having a mid-life crisis is all about. So forget the iPad, instead pierce a nipple and go and buy yourself a Harley or VW Camper, learn to surf or paraglide and get a sleeve or two of tats.

    Life is short :)
    Oh I’ve already done that - bought an mx-5 and joined a gym, then had a couple of prolapsed discs so couldn’t get in and out of the car and my dog ran into me and snapped my left knee off so I can’t run any more.
    funny how life turns out, you never know what’s coming…
    Mortgage free!
    Debt free!

    And now I am retired - all the time in the world!!
  • @chubsta I use an old Samsung tablet and it drives me mad because it is so old I cannot download banking apps, etc.  I decided to go out and buy a new tab and after buying it, I very rarely use it.  I can live without the banking apps and my rubbish old tablet is very light in comparison so it is always first choice.  I should have left the new one where it was and kept my money in the bank!

    Congrats on being completely debt free.

    Indi
  • kimwp
    kimwp Posts: 3,004 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 29 September 2022 at 9:25AM
    After struggling with old electronics, I'd say buy new (or at least new to you) ones - life is a joy without have to wait a thousand years for pages to load or watch my cursor inch across the screen while trying to type an email.

    I'm currently going through the journey of being quite frugal (to achieve certain financial goals) to having enough that I can be quite silly with it but worried about being too silly also. I've set up savings/pension contributions for my next financial goals and have assigned pots for each area of spend, tracking my spend monthly so I'm still in control.

    Your idea of a couple of hundred to spend on whatever is a great idea I think, how about once step further and adding some non -financial aims eg going to a concert once a month, eating out with friends, hobbying - things (which may cost money but) bring you joy? It's a good time to start viewing the money you have as the key to having the life that you want (which should hopefully include being financially secure) and brings you joy and meaning.
    Statement of Affairs (SOA) link: https://www.lemonfool.co.uk/financecalculators/soa.php

    For free, non-judgemental debt advice, try: Stepchange or National Debtline. Beware fee charging companies with similar names.
  • Arkers
    Arkers Posts: 1,587 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Congratulations for finding yourself in such a fortunate position, obviously via planning and persistence. Are you alone on this new episode or do you have a partner? What hobbies and interests do you pursue? A dog has been mentioned so perhaps spending time/money on things you enjoy with your pup? I'm making an assumption here! However if you're happy then that's good too. It's not all about spending money, but don't deprive yourself out of habit.
  • newlywed
    newlywed Posts: 8,255 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I have an annoyance list… so every few months I order one (or two if they are much cheaper) things to solve or replace things that irritate me. 

    My goals with money are now to make life easier and things that will save money longer term (eg save gas or electricity, or a weatherproof coat so there is more walking and less bus fare or fuel cost).
    working on clearing the clutterDo I want the stuff or the space?
  • newlywed said:
    I have an annoyance list… so every few months I order one (or two if they are much cheaper) things to solve or replace things that irritate me. 

    My goals with money are now to make life easier and things that will save money longer term (eg save gas or electricity, or a weatherproof coat so there is more walking and less bus fare or fuel cost).
    Love this idea! Also agree with Kim's point about electronics - the majority of us now rely hugely on doing things online whether on a computer, a tablet or our phones, and our time should be given value too. If the money is there to prevent us wasting that time by spending twice as long doing a simple task, then it seems sensible to value ourselves by making life easier. 

    Setting solid financial goals to aim for is a great plan too - in the case of someone who is debt free and renting that could be saving a set sum for a deposit, for someone debt free but with a mortgage, being mortgage free of paying a certain amount off the mortgage when the fixed rate ends, and for someone who is debt free and has already cleared their mortgage it can be things like ensuring that the next replacement car when required has money set aside for it ahead of time, or getting a certain amount into a savings account by a given date!
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.2K Work, Benefits & Business
  • 599.3K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.