Debt free

dan sh

Yaay! I became debt free today for the first time since I started working. I will be debt free for next 1 year or so. It feels great. :)

"The worst code you'll come across is code you wrote last year.", wizardzz[^]

smcnulty2000

d@nish wrote:

I will be debt free for next 1 year or so

Good. If only you could stay that way. Why a year?

_____________________________ Give a man a mug, he drinks for a day. Teach a man to mug...

dan sh

I hope to buy a house. I am still struggling to get my finances right for it though. If I can, I will have to take loan for paying for it. That would keep me in debt for an awful lot of time.

"The worst code you'll come across is code you wrote last year.", wizardzz[^]

Nagy Vilmos

Try to save as much, if not more, as you were spending on clearing your debt. Mrs Wife and I got ourselves debt free about 8 years ago and it has been very easy to save a lot because we have nobody taking our money each month.

Panic, Chaos, Destruction. My work here is done. Drink. Get drunk. Fall over - P O'H OK, I will win to day or my name isn't Ethel Crudacre! - DD Ethel Crudacre I cannot live by bread alone. Bacon and ketchup are needed as well. - Trollslayer Have a bit more patience with newbies. Of course some of them act dumb - they're often *students*, for heaven's sake - Terry Pratchett

Rajesh R Subramanian

That's excellent, and I'm very happy for you. :) I've been working towards becoming debt free since my father's business totally blew up (since 2008). I expect that I'll be a free man in a year or so. God, I can't wait!

"Real men drive manual transmission" - Rajesh.

Chris Quinn

In that case, you may be able to help me with something - I need some funds to pay the administration fees to move 25 Gazillion dollars out of an African bank. For your help in this, I would pay you 50% of the balance - that's 12.5 Gazillion dollars!

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David1987

I was debt free before I started working - where did all your money go?

Rage

Do you own a house ?

David1987

Nope, now you mention it, that seems like a reasonable place for the money to go

chethu665

I will be free of debt in another 1.5 years. Almost 40% of my salary goes to paying that.

"Men never do evil so completely and cheerfully as when they do it from religious conviction" -Pascal

dan sh

I just won a lottery from UK for 1 Million GBP. Send across your account details and I will provide that to them. Do not worry, you don't have to return anything back to me. :)

"The worst code you'll come across is code you wrote last year.", wizardzz[^]

dan sh

I had to pay back some loans and clear my credit cards. I was spending heavily through them. I have now closed all of them and use my Debit card for all the transactions. Life's too good now. Credit cards are evil.

"The worst code you'll come across is code you wrote last year.", wizardzz[^]

dan sh

Nagy Vilmos wrote:

it has been very easy to save a lot because we have nobody taking our money each month.

Very true. I am thinking to open a new savings account with no debit card and internet banking. I will transfer same amount to that account now and will try not to use it. Or else, I will buy some gold. It's prices are anyways going sky rocket these days.

"The worst code you'll come across is code you wrote last year.", wizardzz[^]

dan sh

Good luck for that. :thumbsup:

"The worst code you'll come across is code you wrote last year.", wizardzz[^]

David1987

Ah credit cards.. I avoid them like the plague.

dan sh

My case was similar too. Once you are free, still try to keep at least 30% of your salary away from easy access. You can make some savings that way or else you will end up spending more than what you do now.

"The worst code you'll come across is code you wrote last year.", wizardzz[^]

BobJanova

Congratulations! I only have a student loan which takes a small bite out of my salary. I'd rather not get into the mortgage trap but it is pretty much unavoidable if you want to buy a house on a normal salary.

DaveAuld

Nagy Vilmos wrote:

we have nobody taking our money each month.

Except the Taxman.........

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Lost User

d@nish wrote:

That would keep me in debt for an awful lot of time.

Took me 39 years to get mortgage free.

Unrequited desire is character building. OriginalGriff

dan sh

39 years is too much. You must have bought a castle.

"The worst code you'll come across is code you wrote last year.", wizardzz[^]