Aiming to be debt free

[alltheadrenalin]

Paid off all credit cards, now working on car. Not a home owner yet. That's next on the list. Anyone else completely cleared debts and live a debt free existence bat mortgage?

Not yet, we have a small balance left on a credit card left to clear and then the only other debt remaining will be the mortgage.

Congratulations at paying off your cards, I bet that felt good 😊 I hope the car doesn't take too long to clear!

I've been full on into the debt free lifestyle for just under a year now, ever since I discovered Dave Ramsey on spotify. He's not everyone's cup of tea but he gave me the kick up the bum I needed to take control of finances before I became "normal" and got myself into even more debt 😁

Yes it's Dave Ramsey that's got me onto being debt free 😆 I didn't know he was on Spotify! I watch him on YouTube.

Yes and now we don’t have a mortgage either. I started with credit cards, then car loan, the difference paying those off meant we could overpay the mortgage.

It wasn’t easy or quick but we had cleared all debts by 35 and mortgage by 50. Others have done better.

Great job on paying off credit cards. I paid 1 off last month and have 1 left and a loan, 7.8k to clear off by June this year. I follow Dave Ramsey too, and watch him on YouTube. Our next step is to own a home too, pay off debt, save emergency fund and save the down payment.

Yep...no debts and no mortgage! It's great! Good luck OP!!

Currently trying to do the same. My husband would really like a less stressful job but what he’d like to do pays half what he’s on now... so trying to pay debts off first

We should form a group of Papa Dave's Debt Free Wannabes 😁 although Dave would tell me off for messing with the baby steps as we have enough savings to pay off the credit card, I've been extra frugal and chucking any spare money saved at the card whilst keeping our existing savings and regular saver going. We have the rest of a wedding to pay for, a new boiler and pretty much a whole flat to renovate which we want to cash flow.

Do people usually fund major household work via credit/loans? Its so depressing thinking how long it will take us to save up and do it all bit by bit, but I don't want to get us into debt to fund it, especially as it's not urgent work.

Congratulations!

There are a few UK Dave groups on facebook if you want to take a look. Some strictly Dave, some Dave-ish.

I paid off all my debt, credit cards, overdrafts and then went on to clear the mortgage and then even my student loan.

Whilst we pay for things on credit card if possible and we always pay it off in full each month. I like Dave and his rice and beans approach but I disagree about the credit cards as you get more protection on them, plus you get points, but we are extremely careful to not pay interest.

Personally I would save for any spends including a car or renovation work.

I've never got in debt for a car as a golden rule. So I'd start a regular savings pot towards your next one . Mortgage will be paid off this year at age 51 but rarely overpaid and when I did it was to bring the monthly payment down rather than to shorten the term.