Reached my emergency fund target and no debt. Mental health so much better!

dgpur

Bigbobby said:

Today was a big day today. I have reached my emergency fund target of 6 months expenses. It has taken me nearly 9 months to reach doing lots of overtime and cutting back on non-essential expenses. I was also in a lot of debt which I cleared prior to me starting building my emergency fund. Debt was not from frivolous spending but from my first buy to let property in 2022 and the renovation costs came to more than expected.

3 years ago when I was in a lot of debt it caused me so much stress. I was not thinking straight at work and making loads of mistakes and the boss was on my case. Fast forward to now and with debt now gone and now I have an emergency fund my stress and anxiety levels have reduced a huge amount. Mentally I feel so much better in myself, I can think straight, hardly any mistakes at work, boss happy, I have humour and a more positive mindset.

I can now have medium and long term goals. I am now investing in global equity and global bond index funds with Vanguard (80% equity and 20% bonds because I am still rather young). Now I'm also making extra payments into my public sector pension as well. I'm also now getting income from my buy to let house. Also I'm contemplating maybe taking early retirement at some point and maybe live in the countryside.

Just wondering if other people have seen an improvement in their mental health once they are in a better financial situation?  I think mental health and money is something that does not get talked about and would be beneficial if people starting talking about it more.

Being debt free, and having a surplus to cope in difficult times, is such an an amazing place to be. Well done, and also well done for sharing about it, you never know who you may have inspired by doing so.

valuepack

Congratulations!