Is being debt free worth it if I kill myself in the process?

lazy&indebt

I was pushing myself too hard last year, now I've switched to paying off my debts at a slower pace and enjoying life at the same time. If you can afford to do it I think it's better this way. I hate feeling obsessed with money!

MrsTinks

I think in honesty there are 2 (if not more) kinds of DFWs... there are those who have debts that would be classed as BAD debts and then those who have just plain debts.
Remember as Martin always says - Debt isn't bad, BAD debt is bad! If you can comfortably afford your debt then you don't have bad debt, but if you are robbing peter to pay paul and struggling to meet the bills then you need to do what you can to repay them.
I think it also depends on whether you are the kind of person who can once they have managed to work out repaying their debts then manage their spending easily or if you have a tendency to spend spend spend again...
Me personally I want to get rif of my debt as soon as possible... On the other hand there are certain thinsg I won't do without - I want the wedding in May to be JUST so, I want a honeymoon, I want nice food, time with my OH, and so on. Because I can afford it AND over pay on my debts then I guess I fall inbetween categories really... i WANT to get out of debt asap but not quite at any cost...

Donedoingdebt

Since 2000, I've been 1 of those that has often worked 60 to 70 hours a week, including overnight on every other Saturday, up until last July when circumstances in work meant reducing my hours.
Luckily, my BAD debts are due to finish in December 2008, so I'm almost there.
Looking back, I'm really glad that I put those hours in as it's reduced my DMP time by around 2 years & luckily, it's had no adverse effects on my health. However, I'm now approaching 48 in June & I can't honestly say I would have been happy about working those sort of hours into my 50s.
One downside is I have started to put a bit of weight on cos of the lovely novelty of having a few beers & a curry on Saturday nights!
There's always a price to pay for pleasure!

bathgatebuyer

Is it worth it? Kind of! There's no easy answer. 2 years ago I was out of work with £34K of debt. I took the first job that came along that involved 35 hours a week of work and 37 hours a week of commuting to and from it!

Do I regret it? No. I'm about 7 or 8 months away from being completely debt free - that's right, over £30K knocked off my debt in 2 years. Was I tired? Yes. Was I ill? Yes - I once collapsed in work after a massive panic attack and an ambulance was called. I woke every morning at 4.45 am to get ready for the day ahead, getting home at 8pm at night. Every morning I had the shakes from lack of sleep, I had headaches, chest pains, everything.

This time next year, I'll have no debts and a few thousand in savings. No regrets at all - I just wish I was never in that situation in the first place.

Skeksis

Skeksis wrote: »

I agree CG, I'm currently looking to get into a part-time lecturing role that will pay as much as the full-time job I'm doing at the moment but with much less hours, partly because I hate my full-time job and partly because I don't want to end up in an early grave working like a t**t! It might just take a bit longer to pay off my debts!!

Invitation to interview for lecturing position has been gleefully accepted by moi! :j

heppy23

You've got to pace yourself at a rate you are comfortable with.

I've got about £6k in credit card debt - once that is paid off I could afford to drop a day or two at work and enjoy life more, do stuff I've always wanted to do etc BUT going mad trying to clear the cards leaves my money quite tight and I risk charges etc so I am pacing myself a bit.

It can take a long time to get into debt and trying to sort your debts out overnight isn't for everyone.