What are your plans when you finally become debt free?
Comments
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I will...
splash out on a top meal at a michelin star restaurant
Save for emergencies
Save for a "newer" car
Wack as much as I can off the mortgage
Naomi xCredit Cards NOV 2019 £33,220.42 Sept 2023 £19,951.00 Tilly Tidy 20223/COLOR] Sept £43.71 Here's my diary: A Ditherer's Diary Again0 -
Oh, so it's not just me lurking about here after clearing my debts... I thought I was odd!
I've stuck with my DFW ways since clearing my debts, I know if I slip back into getting little things because I like them then I'll never get anywhere! I keep reminding myself 'If you've not got it, you can't spend it!' I've started a pension and shares ISA for retirement, an emergency fund, Christmas fund, and I'm saving for a house - very pleased that I now have saved in my house fund the amount my debt was at it's highest - and I want to pay for that asap, so I suppose I'm a MFW now too! Another thing I've done is started taking driving lessons, and I'm putting money aside in a car fund, that'll enable me to be much more flexible with work, and I'm planning to visit all those friends I hardly ever see because they live so far away
So with all those funds to feed I'm still budgeted down to the last penny (£18.98 left this month :eek:), but after clearing my debts I'm used to it, and it is very satisfying to know that what I do have is my money, not the bank's
Gosh! I need to let my hair down!
Edit: I did do a 'Happy Dance' in the bank when I paid off the last of my credit card! People looked at me strangely, but I don't care, I'd worked bloomin' hard for that momentRefusing to Sit Down & Shut Up since 19740 -
Well I'm hoping once am debt-free to... get married!
Me and OH discussed it, and although we haven't set a date, in my head for more than one reason, it makes sense to wait a few years. Reasons being that I have been thinking of going back to uni to study for three years next year, so money will be tight, and I want us to be debt-free, then have saved up for our wedding. So I keep thinking of that as one of my many incentives.
Coupled with this, I also very non-specifically want to start saving. Savings for me and OH for all those many things we might want to buy outright, be it something "smaller" like replacing household goods, to anything bigger, including saving for a deposit on a house. I also want to start savings accounts for the kids, to have something to give them when they're older - old enough to not be stupid enough to p*ss it up the wall, although I don't think there's a specified age that you suddenly become good with money is there?!?!?:DDealing with my debts!Currently overpaying Virgin cc -balance Jan 2010 @ 1985.65Now @ 703.63
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I also want to start savings accounts for the kids, to have something to give them when they're older - old enough to not be stupid enough to p*ss it up the wall, although I don't think there's a specified age that you suddenly become good with money is there?!?!?
In my case it was 35.:o;):rolleyes::D
Naomi xCredit Cards NOV 2019 £33,220.42 Sept 2023 £19,951.00 Tilly Tidy 20223/COLOR] Sept £43.71 Here's my diary: A Ditherer's Diary Again0 -
Once we're debt free we will be saving for 1 year (or less hopefully!) then leaving the UK forever.
:j:j:jNEXT GOAL: Halve mortgage by 2025
Total Debt @ LBM 40k. All paid off!!0 -
A holiday(which will no doubt require clothes and shoes - which I will save for not buy on credit).
Reasses the budget (Hah! I'm only just starting).
Save save save and get back on the property ladder.
Add some benefits back on at work (although knocking them off has upped their pension contribution).0 -
Once I am debt free I intend to finally be able to give the kids pocket money each week (£5per child = £15per week). Put a set amount into their savings accounts each month, and allow them to do one hobbie/interest/activity a week each.
Be able to live on as little of the student loan as possible for next 3 years, and just live off my CB and CTC.
For myself I intend saving for a static caravan the first year, learning how to drive, and then just general savings so one day I may be able to afford to buy my own place.19th March 2007 LBM£5,969.63 1st January 2018 £5960.18, 1st January 2019 £11,032.0018th August 2023 £12,435.00, Student Loan £22244.00 From 2009-12Challenges: To learn to stop spending..0 -
1) Rent my own place
2) Save to buy a place
3) Top of the line laptop0 -
angelicmary85 wrote: »Is anyone else sort of scared of being debt free? I think that it's over-shawdowed my life that in a way I think I might be lost without it.
I think it's natural to feel like this. I've only just been able to hand over my credit card without shaking even though I only use it for things I've already saved for.
We have a cashback card and from next month we will be using it to pay for normal stuff leaving our money safely in our bank account as long as poss. This is scary for me as I still associate credit cards with debt. I'll probably be really obessive and check the online balance 3 times a day like I used to with my bank account :rotfl:
I feel like I'm almost at the end of my journey as although I've been debt free for a year, I still feel like I'm on the maintenance programme.Debt at LBM (March 2006): £30,000 :eek:
DEBT FREE SINCE APRIL 2008!!!! YIPPEEEEEE!!!!!0 -
my debt dh doesnt know about so i can finally relax
we we get mortage free in about 10 years or less and still youngish so will take the boys travelingtotal debt 4711.00 at lbm (4217.31) dfd aug 2012 :eek: overdraft 800 (400.00) kill overdraft first, loan 1500.00 ,creditcard 2411.000
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