Wanna discuss what difference being debt free will make in your life?

**PrairieRose** · 03-09-2005, 05:51 PM

We aren't completely debt free just yet. We still owe on our office/shop building and warehouse. But I've been thinking a lot about how it will feel to be completely debt free. I simply can't wait!

Ok so to me, being debt free will ease the worry load a lot. I've already felt a huge amount of relief with how far we've come but when that wonderful day dawns and we are completely and totally free I'll learn how to do back handsprings.

Next....?

**homesteadmamma** · 03-09-2005, 06:23 PM

We were completely debt free before we bought our van and I made a huge mistake in our tax bill. It was an incredible feeling.

For me it would mean no more worries (except for wayward kids). It will mean being able to accomplish a few goals dh and I have set for ourselves now we've retired.

I can't wait.

Great thread Lisa.

**Mamawolf** · 03-09-2005, 06:27 PM

Actually, it won't make much of a difference... Except that we won't be scraping to get by, we'll have just enough to get by.

**forestdale** · 03-09-2005, 07:19 PM

We are debt free now and I don't think it's made any difference to how we are. It is a wonderful feeling though.

**Mom23boys** · 03-09-2005, 07:38 PM

The only difference I can think of is being stress-free! That would be a huge relief!

**Darlene** · 03-09-2005, 07:52 PM

We're debt free except for the student loans that we are going to help the kids with. It's a very nice feeling but it seems those taxes are due everytime you turn around.

**PrairieRose** · 03-09-2005, 11:19 PM

I agree Darlene about the taxes....and the insurance....ugh. But we were paying all that before and debt too!

**britbunny** · 03-10-2005, 04:44 AM

Well yes obviously taxes and insurance etc will still be there but I see them as being ongoing expenses rather than a "debt" - they are accounted for in our budget each month.

The first of our student loans will be paid off in 2 months time and this money will then go into our emergency fund.

We will then finish paying off a loan each year for the next three years. This money will then be redirected to save for a new car and paying off the mortgage.

Apart from the mortgage all of our loans are over a fixed period and so can't pay them off early, we do not owe any money on credit cards thankfully. So we also do not worry about our debt as we can see the end of the line.

the main difference it will make to us is that any money we have when the debt is gone will go towards getting things rather than paying for things that are gone and we don't see the direct benefit of anymore.

**sunshine** · 03-10-2005, 06:24 AM

Debt free?

Means I won't have to work OT

Means I won't have to stay in a job I hate because it's the only one that pays enough money

Means I'll be able to give more to charity

Means I won't have to worry about "what if" I get sick and can't work, the car breaks down, . . .

**handmerounds** · 03-10-2005, 12:46 PM

It will mean freedom to us. It will give us time to enjoy life on our farm. When my husband and I married we moved away from our hometown to the city. Went from making nothing to a lot. We bought a house, vehicles, etc. Made some bad financial choices which has cost us, but we have learned our lesson! We are both in our 20's so hopefully from here on will be more responsible with money. We sold our first house and bought an older house with 40 acres. Raising our family in the country! Hubby has to drive an hour to work one way, so that takes a lot of his time. I am finishing college to be a teacher right now. Our plan is for him to be able to work closer or be self-employed (he's a bricklayer) when I start teaching. He is a farmer/country boy at heart, he doesn't belong in the city. So we desire to be debt-free one day and just enjoy country living!!

**daddys3chicks** · 03-10-2005, 04:11 PM

Debt free is so far away for us - but it will mean less stress. It will mean building savings and retirement funds. It will mean being able to do things for other people without feeling guilty for spending money.

**AmyBoz** · 03-10-2005, 05:02 PM

It will mean building up our savings and feeling a bit freer in life.

**PrairieRose** · 03-10-2005, 05:13 PM

Dh and I are the same people but honestly we feel much less pressure now than we did when we were so heavily in debt.

**frugalandsimple** · 03-11-2005, 06:04 AM

To me, when I become debt-free, I will be able to save more for my retirement and "emergency fund"

**Telephus44** · 03-11-2005, 06:16 PM

I am looking forward to two things about being debt-free.

The first is the choice as to whether or not I want to stay home with my kid(s). I may decide to work anyways, but I would love to have the choice. Or maybe just work part-time. Or be able to work at something I want to do, not just because it pays enough.

The second is that I am really interested in investing. Right now I just have a Roth IRA and an Exxon-Mobile DRIP. When I am debt-free I will use some of the money I'm paying now just to play in the stock market.