Goodbye to all That: Life After Debt




When you’re heavily in debt, it consumes every aspect of your life. It’s on your mind in the morning, during work, and then at night. Slowly but surely, however, you begin paying down your debt, and eventually, you can see the light at the end of the tunnel. Then will come the day, when your debt is manageable, if you have any at all, and it’s no longer a choke-hold that stops you from enjoying life. What, then, do you do? Below, we take a look at what you can expect, and what you should do once you’re debt free.


You Might Miss It

Now, you might think that it’s impossible that you’ll be anything grateful once you’ve got debt off your back, but this isn’t always the case. For some people, debt is a bit like Stockholm Syndrome. You hate it, but you also kind of like it. OK, like it might be putting it a bit strongly: you endure it, and it becomes part of your existence. You might not know anything else. This feeling will, of course, pass, but it’s worth thinking that you might look around and think “OK, what now?”


Repair Your Financial Standing

Even though you’re no longer in debt, that doesn’t mean you suddenly have an impeccable financial record. In fact, the opposite is probably true. Your credit score is likely in a bad way, so the first thing you should do is use a company like and find a credit repair service that’ll ensure your past financial mistakes don’t hold back your future. Beyond that, it’s all about building up your capital and putting money away into savings. You’re starting more or less from a clean slate; get saving, look at investments, and you’ll soon be in a position where you can stand on your own financial feet.


Give Yourself Time

Having said that, being debt free isn’t a license to do whatever you want. If anything, you should be even more cautious now than ever before, you know what bad financial decisions can do to a person’s life. In the early days, it’s best to act like you’re still in debt. Live a frugal life, put your money into savings, and avoid any big expenses, even if you know you can afford it. Nothing bad can come from spending a little bit of time before launching into anything that is financially intensive.


Resisting Temptation

You’ve worked hard to get out of debt. The biggest mistake you can make now is thinking that all your hard work is finished. In reality, it’s just getting started. Many people quickly find themselves in another cycle of debt, purely because they can’t resist the temptation of credit cards and the like. Live within your means, and never lose sight of the dangers of debt.


A Pat on the Back

Finally, give yourself congratulations! There are millions of people living with debt, and you made it out. You’re allowed one splurge: a bottle of champagne!




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