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What on earth am I going to think about when...
Highlanddream
Posts: 367
Forumite
I am debt free? I spend a lot of time dreaming up ideas and plans to clear it but when it's gone ? I will have a massive hole in my brain space! I have 20 months to go so it it is a while off yet.
Sept 24 : £32000 Sep 25 - £10356 Feb 26 - £6872 Jul 26 - £5495
May 25 : £14000 Oct 25 - £9569 Mar 26 - £5998
June 25 : £13000 Nov 25 - £9275 Apr 26 - £5998
July 25 : £12000 Dec 25 - £8975 May 26 - £5998
Aug 25 : £11436 Jan 26 - £8065 Jun 26 - £5959
May 25 : £14000 Oct 25 - £9569 Mar 26 - £5998
June 25 : £13000 Nov 25 - £9275 Apr 26 - £5998
July 25 : £12000 Dec 25 - £8975 May 26 - £5998
Aug 25 : £11436 Jan 26 - £8065 Jun 26 - £5959
3
Comments
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I felt adrift once I had paid off debt of 24k. It took months to deal with. But you can transfer debt free zeal to savings zeal!If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them
Emergency fund 1400/1000
Buffer fund 100/100
Debt Free (again) 25/07/20252 -
Ahh, now that is a good idea! Thank you. Did you do that?
Sept 24 : £32000 Sep 25 - £10356 Feb 26 - £6872 Jul 26 - £5495
May 25 : £14000 Oct 25 - £9569 Mar 26 - £5998
June 25 : £13000 Nov 25 - £9275 Apr 26 - £5998
July 25 : £12000 Dec 25 - £8975 May 26 - £5998
Aug 25 : £11436 Jan 26 - £8065 Jun 26 - £59590 -
Same here - we had about £5k of our debts left to pay when we received £10k of PPI refunds in the post - felt ever so slightly cheated of the satisfaction of struggling to pay it off.
We're paying off our mortgage now, but otherwise its pensions and savings for us. We've got about £17k in PBs at the moment and hoping for the big prize soon (its a long shot but who knows). We've also started holidaying more regularly so we saved in advance for those."Think of many things, do one"
DFW 2019: MFW aim 2031: bal Sep26 £159k / £310k 2020
Seven Goals; and healthy diet/walk/run/exercising/weights/yoga1 -
I’m at the beginning of my DMP journey, but today I felt so excited about the thought of just having one bank card! It seems so sad, but after years of having loads of credit cards and thinking about what’s available on what. It just feels liberating. Can’t even dream of being debt free yet. Well done!1
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Put all that effort and resourcefulness into saving money in the future, not giving it to some bank.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1
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I would have thought training your brain to only spend on what is necessary for a short period to really understand what your future costs are going to be. Then focus on what you want to save vs spend a little on enjoying living without the risk of getting back into debt.
You need to find that right balance or you may risk just yo-yo'ing into debt and out again. The discipline and concentration will be needed for a few years before it becomes totally natural I would have thought.0 -
I'd make some long term plans and concentrate on making those happen. Paying off your mortgage early, saving up to hsve a new bathroom fitted etc.0
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I am lucky enough not to have a mortgage - hence the short term debt. I didn't expect the short term debt to annoy me so much, but it has.Sept 24 : £32000 Sep 25 - £10356 Feb 26 - £6872 Jul 26 - £5495
May 25 : £14000 Oct 25 - £9569 Mar 26 - £5998
June 25 : £13000 Nov 25 - £9275 Apr 26 - £5998
July 25 : £12000 Dec 25 - £8975 May 26 - £5998
Aug 25 : £11436 Jan 26 - £8065 Jun 26 - £59590 -
in a way, it's good that you were annoyed by the debt. think how much more it would have cost if you weren't determined to clear itJune 2026, Mortgage free, Emergency fund fully funded & £200/200 cash maximum pb holding .:jWeight 12st challenge 11st 2lb
Gift to children challenge £40k in 2 years. Short term gift challenge 7 presents and $1300 can by September.
Determined to stop defining myself by my mistakes. Progress not perfection. I’m not perfect but I’m good enough.
https://forums.moneysavingexpert.com/discussion/6673398/hopefully-cruising-with-focus-towards-retirement#latest0 -
yes, could do with a holiday thoughin_need_of_direction said:in a way, it's good that you were annoyed by the debt. think how much more it would have cost if you weren't determined to clear it
Sept 24 : £32000 Sep 25 - £10356 Feb 26 - £6872 Jul 26 - £5495
May 25 : £14000 Oct 25 - £9569 Mar 26 - £5998
June 25 : £13000 Nov 25 - £9275 Apr 26 - £5998
July 25 : £12000 Dec 25 - £8975 May 26 - £5998
Aug 25 : £11436 Jan 26 - £8065 Jun 26 - £59590
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