Post Debt Blues?

being debt free

Adjusting to Life Without Debt.

Getting out of debt is a worthwhile goal that most people who have it share. It takes work and planning to achieve this huge accomplishment. No one who has ever had debt will question that life without it is better than it was when they owed money every month.

Life is really always about change. Getting out of debt and living debt free is a big change. Change means adjustment even when it is a good change. Here is a look at one girl’s story, as told by Forbes, of how she felt while adjusting to becoming debt free!

post debt blues?

“In the beginning, paying off the debt felt exhilarating because I was confronting the situation and acting on it,” she recalls. “Then it got frustrating—I had started my own business as a chef and nutrition consultant and it started to really excel, but being in debt was limiting because I couldn’t apply for loans or a credit card.” Two and a half years later, she could finally see the light at the end of the tunnel…

Great news, right? After all, this was what she’d been waiting for and working toward. But instead of being excited, Osbourne was nervous. “I was afraid that I would end up in debt all over again,” she says. She also felt tremendous pressure to succeed in her professional life once she was debt-free. “Now I’d have nothing but myself to blame for not being able to accomplish something,” she explains. “Before, if I couldn’t add an aspect to my business or go on vacation, I could pin it on the fact that I was broke. Now I’d have to step it up. My grace period was reaching a close, and I thought that people were going to expect leaps and bounds from me.”…
It’s a surprisingly common position to be in: You finally achieve the impossible (or at least what seemed impossible for a long time) and become debt-free, but instead of feeling financially empowered, you have a deer-in-the-headlights episode. You’re so accustomed to being in debt that you don’t quite know what to do without it. – via Forbes

The Change To Being Debt Free is Worth It!

Even at first when it feels strange to know you don’t owe any money to anyone at the end of the month, remind yourself that a huge burden is lifted off of your shoulders. If you can just give yourself time to adjust and remain resolute to stay out of debt you will never have to carry that burden again!

Last week, I decided to start a series of posts about what life is like after debt. I introduced the topic by outlining some of the resources that helped me get out of debt in the first place. After chipping away at it for two years, I made my final debt repayment on May 21st.

Obviously, I’m proud of what I did and am happy to be debt-free, but I’d be lying if I said that adjusting to life after debt has been easy. Now, it’s time to talk about what it’s like to have an extra $800+ a month in my budget.

But what can you do now that you couldn’t do before?

This question is easy to answer: I can do whatever I want to – within reason, of course. But if I want to go for dinner, I go. If I want to buy myself a book, I buy it. If I want to travel, I do.

However, in having a little more freedom and flexibility in my budget, it seems I’ve actually become more obsessed with my finances. In fact, I would guess I now check the balances of my accounts daily. Why? My good friend Carrie Smith said it best: “Even normal purchases scare me into wondering if I’ve overextended myself.”

When I was in debt, I was lucky if I had $30 left in my chequing account before payday. Now, I usually have $300 in there at all times. But I’m not used to that! In my adult life, I’ve never (until now) finished a month without having a massive amount of debt hanging over me. Even though it’s gone, the memory of that weight still sits heavy on my mind and affects the way I handle my finances (which isn’t necessarily a bad thing). – via Blonde on a Budget

Have you mapped out your path to financial freedom yet? How soon will you be debt free?

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