What to do when you’re finally debt free
If you’ve lived in crippling fear and anxiety of your debt for several years, you may feel that being debt free is the ultimate goal. After years of faithfully setting aside money to pay off your debt, you may find yourself suddenly debt free and asking – what next?
According to this article by Learnvest, it’s actually quite common to feel anxiety after achieving what seemed to be impossible for a very long time. You may suddenly find yourself with a lot of extra cash each month because you’re no longer paying off debts. It can get overwhelming if you’re focused on a single goal for several years and then suddenly the goal isn’t there anymore.
First, celebrate your success when you finally finished off your debt. Even before you finish the last of the monthly payments, think of a reward that will really make you feel good about yourself. Then set your plans beyond the debt, like saving for a house or a business, and do not be afraid to set your goals high.
For more ideas how to spend your life after debt, click here.