by Tricia
J.D. from Get Rich Slowly recently launched a forum at his site. I was looking through it when one thread caught my eye Life After Debt…now what?. It’s a thought provoking question and touches upon something I have been thinking about lately.
On this blog, my main focus is our credit card debt. We do have mortgage and student loan debt, but the credit card debt is the most damaging. What are we going to do once the credit card debt is paid off?
Of course, we will celebrate and probably do a happy dance. After that’s done, then we’ll probably pay some extra towards our student loans and really beef up a savings account. We have some catch-up to do in terms of getting away from living a paycheck-to-paycheck lifestyle. I’d like to feel secure knowing that a job loss wouldn’t result in us getting into credit card debt again. Once the savings account is in place, we’ll still keep sending some extra towards our student loans, but then we will start really concentrating on saving for retirement with IRAs and the like.
Oh, and I can’t forget that we will be going on our first family vacation once the credit card debt is paid off 😉
Your turn. Your debt is paid off…then what?
