What Life is Like After 5 Years of No Debt Payments

It’s been five years since I became debt free and dang, life has changed! But in many ways, it has remained the same. I want to share what’s different and what’s been constant so you can stay motivated to become debt free.

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I’M SOCIAL UP IN HURR:

[vanoyiam]

Excellent! Living debt-free is amazing and I wouldn't change it for anything in the world. Life transforming!!

[fender_fan]

I'm 32 and became debt free yesterday! I think the most important thing you mentioned was discussing big purchases with your spouse. Our rule that we're keeping now that we're out of debt is to discuss all purchases over $100 (except for bills and groceries) and to sleep on any purchase over $300 before we make it.

[marisamartinez]

Well done!! My husband and I became debt free in 2018, saved up 6 months of our income in an emergency fund in 2019. Now in 2020 we were able to be radically generous during this pandemic for people in our community who lost their jobs. It is true financial freedom

[maxnazarov]

As a person who is also debt free I always lie in public and say i have debt because i've noticed that the vast majority of people are in debt and they resent you for being debt free. So that's why I lie and say I have student loans and a car payment.

[MarlonAndGabriela]

Haha there’s an excellent reason why people move to SD despite how expensive it is here.


Can’t go wrong with PB OB Gaslamp North Park etc. Plus our weather is better than anywhere in the US.

[Itsjustglo]

I've got 2 more payments then I'll be debt free 🙌🏿

[cattsmahal]

Yay! Good job. I just started my journey Jan. 2020. My goal is Dec. 2021

[SeanLei]

Life debt-free is awesome. No looming debt over your head. It's awesome that you can now set your own ours and travel so much!

[damonw]

I think the $100, let’s discuss this over kill which why you have disagreements some times. Each of you should have a set amount of money that you can spend with no questions asked. Your debt free enjoy it. I’m not saying it has to be a crazy large number but you have to life as well.

[movdqa]

Debt-free in 2000. Paid off the mortgage then and just paid cash afterwards. It's a fantastic feeling.

[lamplove]

Will be debt free (again) mid 2021. And plan to stay there until i invest in real estate property in the future.

[santiagoagustine]

I am 55 years old with very little set aside for retirement at this point. I have always been curious about the stock market and have witnessed some people who played the game right and retired early because they used the stock market. When I ask them, most said that they invested very little to start with, but their portfolio grew. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make decent returns.

[RawLumpia]

I miss the little Apple! I got out of the Army at fort Riley and went to k state for a while! 💪🏼

[knucleballfreedom]

So excited. I have been on a debt free journey for 5 years. Not there yet, but yesterday, I finally saved enoughed to pay a one time payment of a cc that I have had been robbing Peter to pay Paul for 10 years of interest...it is gone one Tuesday forever! Now, of course life happens s and yesterday, the same day I saved enough a 2014 transmission went out. Good news have an extendeed d warranty should only cost 100.00. Debt free life would be great. I teach Dave Ramsey FPU 2 times a year and this keeps me motivated!

[jimhughes]

I’m one year in to paying off my own debt. It started as just paying off credit cards and has evolved into a goal of total debt freedom. I have a mortgage and two cars but other than that my debt is pretty low now. Hopefully this trend will catch on with us millennial's. All I hope for is that I can get my finances right so I can be blessing to those around me.

[dabznslugg]

I’m debt free I’m giving to my parents now they live out the country but yea feels good

[MMGJ]

I'm 40 and have a few small things to pay off before i'm completely debt free. My house is paid. A cheap house that I bought and am doing all the work. I have 3 vehicles that are paid, and a 4th project car as well.
My bills are minimal. I'm self employed and choose my hours for the most part.
Looking forward to the next few years as things are getting better everyday and I can start piling money into savings.
I'll never be in debt again.

[SchoolofPersonalFinance]

Awesome job!! Life by design! You only get one shot at this thing...do it your way!!

[stevenharris]

Just a thought but how about talk about what you do other than the new ways to spend money now that you are debt free. What it sounds like is celebrating a weight loss with eating a cake by yourself.

[KCelyce]

Where have you been all my life! I needed this video