Staying out of debt...

10 replies 974 views
AgentM_2AgentM_2 Forumite
62 Posts
This may be a strange one but I know you guys understand better than most!

I've been debt free now for a good few months (yay!), but find having money difficult to adjust to. It's like I spend it to get rid as i'm so used to being skint and, oddly, feel more comfortable. I'm not getting myself into trouble with debt as I have no overdraft / credit cards. I just seem to spend my money so that i'm getting by without any. I can't explain this very well :(

Has anyone else had this problem?

Anyone in difficulty, please don't be offended / angry with me. This is a genuine concern of mine.


  • mne2mne2 Forumite
    142 Posts
    I can well imagine that once in the mindset of paying off debts and living on basics it is very hard to get out of and i don't think people on here will think any worse of you. I am sure there are others who have been in similar positions who will be able to offer advice!
  • Sharon87Sharon87 Forumite
    4K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    So you're spending the money so you become skint? Why not put it into a savings account and try and forget about it.
  • I can kind of relate to this, and its weird, when I have money I worry that I'm going to spend it unwisely or lose it somehow! but when its gone I dont have that to worry about anymore, its strange. I think it goes back to the old saying that money burns a hole in your pocket. love to see what others say though.
    DFD 29/12/10 :D

    Oh Wait... The Mortgage :mad:
  • karenccs67karenccs67 Forumite
    1.1K Posts
    Part of the Furniture 1,000 Posts Debt-free and Proud!
    From 1st Feb this year, OH and I were totally debt free and what a great feeling & relief it is, not that we owed thousands.... but I sort of understand your predicament, on certain dates each month we're expecting to pay this or that and now we don't, but what weve decided to do is "spend a bit. save a bit" which is my nans saying, we might have a treat, eg, a takeaway and with the rest put it into our ISA's, or towards a slightly better holiday. It's a lovely if still unusual feeling. Try not to waste your money, have something to show for all your hard work in paying off your debts and having a debt free life. Well Done & Good Luck
    ***Dont save what is left after spending, spend what is left after saving***
  • I too have been debt free for a couple of months, and whilst I don't have the same desire to spend, I can relate to it being a strange time mentally. I find myself noticing the date on the calendar and thinking it's a payment day for something I used to pay. I'm not counting the pennies now, so I am spending more. It's getting used to income actually being mine, rather than the mindset that I had that it wasn't mine when I owed others. I think it does take a while for some kind of "normality" to return having been in extreme financial situations.
  • M

    Open a savings account, one that is relatively easy to access, and everytime you think you have too much money, 'pay' the extra into this account.

    Do you still have a budget, if you don't I would revise your latest from when you were in debt, give yourself a little more for treats. Then any money not in the budget gets removed at the beginning of the month. Once you have a system in place you can start to make the interest work for you, the banks will have to pay you for a change!

    Mortgage at 08/10/10: 110k:eek:
    Current Mortgage:... £109,200 :eek:
    OPs 2011: 100.50/4000
    Current MFD: 02/10/45 :shocked: (will be 63!!!)

    Make a payment a week challenge TW 100/123.79
  • a simple idea that worked for me, buy a gold bullion coin every time you get the urge to spend your money. You get to buy something nice and shiney, get that buying rushing and get saving with a top asset all in one. Worked for me!
  • Open a savings account, pretend it's a debt that you must pay off each payday, put the extra money in there and forget about it.

    You'll build up a nice little cushion for a rainy day that way.

    It's just a mind-shift - you need to start thinking about having savings being equally as important as paying a debt. You're in a good position now where you have spare money but one day you might not be - you might lose your job, get ill, anything could happen. Build up a buffer while you can so when or if something like that does happen, it'll be easier to deal with financially.
  • These are all really helpful and supportive ideas guys! Much appreciated! Glad to know i'm not the only one who feels this xx
  • curlytop12curlytop12 Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    hi,another debt-free person posted with a similar thing recently,only it was he couldn't bear "treating"himself or his children and was still being "frugal" even though he didn't need to be.
    what was suggested was that he have different accounts with names such as
    car maintainence etc
    then he could just carry on budgetting like before as that was his way of life.
    that way you are not changing your way of thinking too much,can still live by a SOA,spresdsheet or budget sheet if you see what i mean?
    good luck and well done.
    ps.hope i'm one day in your position!maybe give us some tips how you did it!
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