Are you “debt free”....?

Just interested to see how many of you’s are debt free and what takeaways (no side hustle pun intended :smile:) you took from it, why you started? What measures you took? And the feeling of finally being debt free…

I’m currently on my debt free journey and have only 2/3 more weeks and I’ll have everything paid off apart from my mortgage. Not going to lie, it’s been a 10 month struggle, of 7 day working weeks, deliveries at night, downgrading my car, social life almost non existent but I know for the long term, it’ll be one of the best decisions I’ve made.

My “why” is that I want to buy myself more time for doing stuff I want to do, not being a slave to the lender. I also want to see parts of the world and sample different cultures, being debt free will make that easier.

My strategy post debt is to invest into dividend stocks and get to the point where I can “live” off the income generated off that.

What’s your debt free stories? …needing motivation for the last push.


If I was a company my balance sheet would be in the positive. Although my mortgage is still > 50% of property value my non-pension investments + cash exceed the remaining balance so I see it as kind of debt free.

Paid off the last bit of my student loan in February in bulk; never had any other non-mortgage debt


I am. No debt whatsoever. Mortgage paid off a few years ago. I’m in my 40s. It feels great, though I have two young kids so things like childcare, extracurricular activities, impending university and deposits for houses remind me that I still need to be prudent and somewhat cautious.


I have student loans - but I considered this more a graduate tax than anything else

(on the new plan so the interest on a 40,000 loan is so high it is very unlikely I will pay it off)

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Mortgage is about 1/4th of our outgoings. No personal loans. Student loan was paid off 8 years after graduation.

Other than my student loan, yes :sweat_smile:

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Other than a mortgage. I reduced the term on that so monthly cost is quite big but on target to pay it off in 7 years


Congratulations! Really well done on your progress there. I haven’t gotten myself in debt so far. I’ve only had a credit card for the last year and use it to pay for fuel etc. but never spend more more than I have. I’ve always lived within my means and hope to do so up until I get a mortgage of course.

I tend to save a fair amount and only spend money on experiences that I can enjoy with my friends. I’m not very materialistic at all.

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I’m in the same boat. Treating the student loan repayment as graduate tax with no incentive to pay it off early at the moment. Instead filling up my pension pot with salary sacrifice and investing or saving the rest

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That is my plan as well - I feel it is unlikely to ever be better to pay it off than pay into a pension etc. instead

Just because it is wiped after 30 years

Mortgage paid off in 5 years then I will be. Touch wood :+1:t2:


Good to hear different strategies and ways of thinking when it comes to debt and planning future finances.

I think mine is more of a mindset thing knowing everything is paid, now I can focus that excess 100% into my investments, rather than having it still lingering.

I take on 0% interest debts, because it’s better to invest the money not spent.

In a similar vein, while I could pay off my mortgage, due to its low interest rate, I will end up with more money by keeping the money invested.

Other than that, debt free.


I know of credit card offers, are there any other sources of 0% interest debt you use?

My wife being American still has $80k of student debt (despite scholarships) :sweat: US student debt cannot be considered a graduate tax. It really puts into perspective how lucky we are in the UK. 4 years after finishing her masters, the repayments are now $1k a month, and with the tanking exchange rate, it’s astonishing. US student debt is not tied to earnings so it’s small wonder so many of her friends and classmates still live at home. It really is incredible how punitive education is in the US.

Otherwise, no debt however a mortgage will appear in the near future.


I’m on the iPhone upgrade program. They, along with some other retailers, also do 0% finance to spread cost of big ticket items over a year.


I think I’m pretty unusual graduating debt-free (apart from the student loan), but I fell into the maximum maintenance grant category and had enough spare time to work for two of the three years. This has been a great base to grow my portfolio rapidly - since I have minimal liabilities.

That said I am supporting my partner who is still a student which is my most significant financial burden currently - it’s forced me to consider whether I would rather she take out an interest-bearing bank loan knowing that the long-term impact on us could be significant while the current solution means large amounts of my money are tied up.

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I’ve never taken any loan or whatsoever so I’ve always been debt-free but that’s also the reason why I got rejected when I applied for my first credit card. The only reason why I applied is because I realized how important it is to have a credit score in case one day I need to borrow.

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Taken a while but Im free of unsecured debt so just got the mortgage and trying to overpay as much as we can each month. Second jobs, side hustles etc to keep paying extra so we can relax more later on


Do you have a credit card now?
If not, get a credit builder card.
I’m in the process of building it up, and it just takes time really.

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