The Cost of Being Debt-Free

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I don't mean the cost of using a debt consolidation agency. I mean all the things you had to give up / forgo and all the lifestyle adjustments it took to get you there.

In my quest to become debt-free, I made a few lifestyle adjustments. I said no to a lot of social events / trips that would've been fun, but wouldn't have helped me pay off the overdraft. I packed my lunch to work 70% of the time, I moved out of my swish digs to somewhere cheaper, I didn't take on more debt, I shopped less and lived below my means.

Though I made those adjustments, I didn't do too much / more than I could handle.

For example, I didn't move into an ultra-cheap dump (though I thought about it). I spend a lot of time at home, so I wanted to be in a flat that was secure, reasonably priced, but spacious and airy.

I continued to go back to London often. For me, this is necessary to preserve my sanity - it keeps me in touch with friends and family and gives me somewhere to refocus and count my blessings. Also, I went on vacation as usual. I did it in a much more cost-efficient way - travelled in the off-peak season, stayed with friends and family, travelled cheap etc.

I guess what one chooses to live without is different for each person. Personally, I haven't found the cost of being debt-free to be exorbitant, because I have a balanced compromise. If anything, the cost of being in debt – late fees, overdrawn charges, expired interest rate offers etc. are what appear too high.


Sometimes I do wonder though, how much more I could put away if I changed a few things. Today, I'm wondering whether the cost of being debt-free was worth it to you, now you stand on the other side of the fence (so to speak). Are there things you would have done differently?


Speak on it.