When Will You Celebrate "D-Day" (Debt-Free Day)?

[Malthus]

Inspired by my upcomming moment of glory, when I will, at long last, pay off my mortgage - in two months!

[Zanza]

I don't have any debt right now, but then I only rent the place I live in.

[Barrister]

You're just showing off.

Mortgage will be paid off in 19 years.  Just in time to retire.

[Malthus]

You're just showing off.

You better believe it. When that mortgage goes, I'm holdin a damn ceremony, complete with ritual burning of documentation in the backyard BBQ. 

Mortgage will be paid off in 19 years.  Just in time to retire.

Yeah, but when you retire - government gravy train pension!   

[Valmy]

Pay off everything but the house in less than three years.  Sell the house and get a new one in 4.

My plan is to get a 15 year on the next one and pay it off in half the time.  But that sorta depends on how my Engineering ambitions play out.  This is a marathon, not a sprint.

[Valmy]

When you pay it off Malthus will you scream 'FREEEEEEEDOOOM' Braveheart style?

[Valdemar]

Just refinanced my mortgages to a incredible fixed rate of only 2,5% for a twenty year bond... Had 19 years left o nthe old one, but it was too good to pass up

V

[Grey Fox]

29 years & 8 months left on my mortgage.

I expect I'll have a car loan or 2 most of my life, I currently have 2, 1 with 5 years, the other 3.

I have no other outstanding debt.

[Valmy]

I expect I'll have a car loan or 2 most of my life, I currently have 2, 1 with 5 years, the other 3.

YOu can't save up and get one?  YOu will save tons of cash if you do.  Car loans are one of the curses of the Middle Class.

[Caliga]

Assuming our household income does not decline, then I will be completely debt-free within five years (realistically, sooner than that).

[Malthus]

When you pay it off Malthus will you scream 'FREEEEEEEDOOOM' Braveheart style?

Until I'm hoarse.   

Of course, my wife then plans to plunge us right back into debt to renovate the place, buy new furniture, etc. ... 

I gotta admit that it is pretty overdue, our stuff is mostly the same as we bought when we moved into our first apartment. We figured no point buying new stuff while Carl is in his scribbling-on-stuff-with-crayon phase.

[Josquius]

Payed off my career development loan a few months ago. I am
adverse to taking on any debts so that's all I had.

Proper student loans don't count of course.

[Valmy]

Of course, my wife then plans to plunge us right back into debt to renovate the place, buy new furniture, etc. ... 

You know...sometimes you can get really good deals on furniture if you pay cash.  You might want to suggest to her that you take the money you are not paying on the mortgage every month and put it in a furniture fund and buy the stuff outright.  The renovations might be a little too pricey for that though.

[Grey Fox]

I expect I'll have a car loan or 2 most of my life, I currently have 2, 1 with 5 years, the other 3.

YOu can't save up and get one?  YOu will save tons of cash if you do.  Car loans are one of the curses of the Middle Class.

Probably not. When my gf's car is paid off (3 years) we'll need to buy a new, bigger one.
I doubt I'll have ever the financial leeway to pay ~400$ in car loans & also save 400$ towards the next ones.

[Valmy]

Probably not. When my gf's car is paid off (3 years) we'll need to buy a new, bigger one.
I doubt I'll have ever the financial leeway to pay ~400$ in car loans & also save 400$ towards the next ones.

Yeah you need a few years with no payments to save up.  But maybe after the bigger one is paid off.  Surely you are not going to need a new car every five years your entire life?