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My blog is about our life after MORTGAGE FREEDOM (achieved Oct 2012), saving hard for TRAVEL EXPERIENCES and EARLY RETIREMENT from my job as a teacher. I also have an ULTIMATE LIFE LIST (which works like a Bucket List)of dream travel destinations and experiences. Please leave a comment if you can. I love reading them! A little about me! I am so grateful for the life I’ve been given. I don’t need ‘things’ to be happy. I appreciate my family, friends and the value of experiences over the materialistic. By respecting the power of money and using it wisely we have had a beautiful, simple wedding and bought a tiny cottage with some land overlooking fields. We try to live simply and appreciate the beauty of the nature around us. But we have an adventurous side too. I met Mr SFT whilst travelling in Cambodia. THANK YOU SO MUCH FOR STOPPING BY!

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Friday, 22 February 2013

TOTAL DEBT FREEDOM!!!

Hi Everyone!


Yesterday we finally paid off the £5k 'unexpected' debt!

(It was money given to us (we didn't ask) by a relative who then changed their mind and told us they needed it back. At first it all felt overwhelming but then we decided to pay the mortgage off first-then attack this final debt)

So the money left our bank accounts yesterday and we are finally debt free and it feels wonderful.

Now our journey starts towards saving for retirement and other future plans.

Sft x
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61 comments:

  1. WOO HOO! well done you, it is lovely to have no debt. We do not have massive savings as our lifestyle is to build memories not a money mountain for someone else to spend. We have enough for a rainy year or so and our disposable income gives us time with family to build happy memories. We can always put our time into work for more money but our time is finite and we want and need to enjoy it.

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    1. Thanks Pam!

      I love your outlook on life. We too value experiences and memories over money and materialism.

      Now we have to build up our rainy day fund, especially in regards to Mr Sft's work van which is a money pit.

      Sft x

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  3. Absolutely wonderful - WELL DONE.

    I don't know who the relative was, but what a dreadful thing to do to someone in your own family, or anyone for that matter. I hope they had a bl**dy good reason.

    Sue xx

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  4. Sorry - that was me being stroppy :-)

    Sue xx

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    1. Hi Sue,

      Thanks! It feels wonderful to be debt free.

      It has made me very cautious to 'accept' money from that part of the family again. In fact I never will. I can't tell you how I felt when I heard they wanted the money back, my language was blue!

      Not sure they realise that £5k is almost 10 months pays for Mr Sft!

      We live and learn.

      Sft x

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  5. I know how much you wanted to get this debt paid off so well done. I think it's a different situation when it's a person that you owe money to, rather than a company, and especially the situation with this particular debt, I think it makes you even more eager to pay it off. Now you can start saving for fun things.

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    1. Hi Jo,

      You are so right, I was annoyed about it but we took the money and spent it (on getting Mr Sft his van for his courier job) so what could we do when x said they wanted it back. And I didn't want to create family friction.

      Now we look forward to the future.

      Sft x

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  6. Well done you - I remember how gutted you were when the bombshell was dropped that they wanted the money back. I wonder if they felt peeved that you were planning your wonderful trip last year? It makes me rather glad that nobody has ever offered to ' help' us financially.

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    1. Hi Scarlet,

      Absolutely gutted, and since it wasn't my side of the family I had to play this one carefully.

      Well we found out before we went away last year but I wasn't going to cancel the trip and not go and give them the money, particularly as my nephew had saved so hard to be able to go. Then I made the mortgage a priority because I was running out of motivation and hitting too many brick walls. So this debt went at the bottom of the list and now it's done. I don't have that worry hanging over me.

      Mr Sft suggested paying a bit back each month but we would have been beholden to that person forever and I think they may have enjoyed that.


      Sft x

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    2. My FIL played that game too. He'd give you money... then expect you to give him continuous gratudide for his "gift". Ugh. Second time he offered a 'gift' my hubby said, "Thanks but we're good right now". Oh but wasn't FIL angry.

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    3. Teri, you are getting closer to our truth.

      Sft x

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  7. I am so pleased that you have reached this goal. Well done Mr and MRs SFT.

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    1. PS I would like to contact you privately. How do I do this? Thanks

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    2. Did you get the email address?

      Sft x

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    3. No I haven't. I have looked all over and still feel I am hunting a mystery. Next weekend the Queen Mary tin will be opened and the contents counted as I leave on the Tuesday!

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  8. Well done. You must feel very free now.

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  9. That's absolutely fantastic news SFT congratulations!
    Judy xx

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  10. Congratulations! I really like reading stories like this because it's so motivating! Did you plan anything special to celebrate it a little? ;)

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    1. Thank you!

      We are really pleased-it took us 8 years to pay off our mortgage and now we have paid off the final debt.

      We are celebrating with our favourite home cooked dinner tonight.

      Sft x

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  11. That is fantastic, and all as a result of so much hard work and effort - WELL DONE YOU!

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    1. Thanks Robyn.

      It did take a while and hard work but we got there!

      Sft x

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  13. I know that wonderful feeling too...............and we also worked very hard for years to enable freedom from debt which, although it was only our mortgage, was something we desired to be free of going into the 'golden years'.

    Way to go dear girl - I know you will do just as well saving for retirement, and of course travel! Good luck, and huge congratulations!

    Hugs - Mary

    P.S. Yes, hope you will find time to look at the Antarctic posts later - know how much you love the birds. I hope some year you and Mr. SFT can make that awesome trip.........seeing the Wandering albatross with an 11 ft. wingspan fly by is so fantastic.
    I'm under the weather now too - have come down with a miserable cold - first of the Winter for me.

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    1. Hi Mary

      It's nice to be debt free, we are looking towards our golden years.

      Thanks for your warm wishes.

      I am looking forward to seeing the albatross and penguins in your photos.

      We saw albatross in New Zealand and they were incredible (Not Wandering though).

      Hope you feel better soon.

      Sft x

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  14. Whoo Hoo !!! Congratulations SFT what a brilliant achievement. It's the best feeling in the world to know you are totally debt free. Giving up things short term makes for a much better life long term. If we hadn't done the same my hubby wouldn't have been able to retire at 55, it was so worth it for the freedom we have now.

    Karen x

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    1. Thanks Karen.

      It does feel good.

      You certainly are an inspiration for how we would like to live our lives in the future.

      Sft x

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  15. Many congratulations! Well done! What a lovely feeling and on a Friday! Hope you celebrate your achievement!

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    1. Thanks Vicky! We are going to have our favourite home made celebration meal tonight and maybe a glass of wine.

      Sft x

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  16. Fantastic!!! Congratulations the Sfts! :) xoxo

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  17. Congratulations. Do you think they will comment that you have now paid them on full? No hold over you now.
    Sylvia

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    1. They were 'surprised' apparently.

      Sft x

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  19. Well done. So true is the saying, You choose your friends, your relatives are just there. I am restraining myself to not use any other adjective.

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    1. I think you've hit the nail on the head Jill!

      Sft x

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  20. Well done! That is a large amount of money and am sure that it made the relationship with that relative a bit tough. How exciting for you!!

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    1. Hi CC,

      Yes, a very close relative too. But we are free now.

      Sft x

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  21. Well done. We had something similar years ago, we were given a car by a relative then they decided they wanted the money for the tyres that had bought about 3 months earlier. They told us this about 3 days after we completed on our first house and we had no spare cash. I think people 'time' things deliberately to cause the most upset/stress. But as you say live and learn and its never happened since. Enjoy your meal xx

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    1. Thanks MPB!

      I think this person does thrive on drama but we choose not to live our lives like that.

      Sft x

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  22. Whoo hooo!!!!!
    Love from Mum
    xx

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  23. YAAY!! Well done ! Congratulations on achieving your goal with all of your hard work ..bet it feels like a weight has been lifted from your shoulders :o)

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    1. Yes it does, Thanks KittyKittyWeaselFish!

      Sft x

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  24. How fantastic!!! My father in law was an "indian giver" as we call it here,he would give Bob something and then politely ask for it back! once it was a trailer and Bob even thought he would return it full of rubbish bt of course he did not lol after awhile we did not accept anything anymore it was easier to say thanks but no thanks .

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    1. I think it was a hard lesson to learn but we've learnt it now.

      It does feel fantastic.

      Sft x

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  25. Yay, Yay, Yay - it must be such a wonderful feeling to finally have that one ticked off the list!

    I am careful of what I accept (like you, things not necessarily asked for) off my someone probably related in a similar way to your person as there is no such thing as a free lunch and you can be rest assured that you will be expected to do something in return!!! I rarely ask for anything from her as some people like to keep count of goodwill gestures! On the other hand if you do something for her she does not see the need to repay the favour, I can't win and am currently on a 'distancing myself from her' plan of attack as I was quite close to be seriously taken advantage of again!

    I also suspect the Christmas present of airpoints is going to turn into a non gift as the airline they are for does not go where we need it to (you can imagine any swear words you like here) Big sigh, but I guess that might have been the plan - to keep us here to help with everything even more than we do now.......ooops did I say that out loud LOL.

    Hope you are having a wonderful debt free weekend :-)

    Sx

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    1. HI S,

      Yes, I think we've been a bit naive about all this, it came as a shock, particularly as Mr Sft is from the same family and so straight.

      But we've learnt our lesson and are a united front about not 'receiving' such gifts in the future.

      You sound like you're doing well with your tricky situation too.

      Have a great weekend too.

      Sft x

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  26. Hi SFT! Congratulations on becoming debt free...you know, I guess if you had have taken a loan from the bank for the van you would have had to pay interest. Even though the person decided they wanted it back so suddenly, now you don't owe them anything nor any extra to the bank. So enjoy the freedom once again of not owing anyone anything!! :)

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    1. Linne,

      Yes, that's one way of looking at it.

      It's a nice feeling being debt free.

      Sft x

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  27. Hi Sft. CONGRATULATIONS !!! No more debt :-) how wonderful for you! xxx

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  28. Well done on being totally debt free! Another great hurdle overcome:-)

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  29. Hi SFT! Congratulations!!! Absolutely awesome! :) Can't wait to be in your shoes, with lots of extra money for your holidays!! :D

    Sorry I've been a bit absent lately! Bit of writer's block/crazy busy times of late!

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  30. That was SO inspiring to read! I'm looking forward to posting that message myself one day, thanks to you and the challenge! I'm so, so lucky that I found you! ~ Linne

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