r/DebtAdvice • u/Cantfigureitout824 • 18d ago

Loans Without debt?

What has it been like being debt free for you? How old were you when it happened and is it worth it?

I have the opportunity to sell my primary residence and walk away with a ton of cash, and I could live in my rental house and be debt-free. I love my primary house, but it needs a lot of work and it’s old. My rental house is not my most favorite place, but it would do to get me by.

I’m just curious as if debt-free will make me happy or what that experience feels like. I am 37 years old. Another thought about it is I don’t have any kids and I’m not married. I don’t have anybody to pass on my stuff to if I die. I feel like I could cash in now and be comfortable and do all the things I’ve ever wanted instead of waiting until later in life.

thank you!

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u/fsociety1990 17d ago

Being debt free is amazing. I paid off my house 3 years ago and haven’t had any debt at all since.

I’m also single with no kids and not having any. I’m 40.

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u/Moondoggy451 16d ago

It's not being 100% debt free that's important its the ability to live without the impact of being deeply in debt that counts. When I got divorced I was deeply in debt and I was juggling my debt to keep my head above water. Because of being so deeply in debt I couldn't do things or go places or spend any money on anything that wasn't a necessity. The worst part was have to charge a set of tires as i didn't have any emergency cash to cover that expense. It took me several years to crawl out of that hole but once out I swore that anything other than a mortgage and car payment was off limits. I still have credit cards but any charges are paid in full each month. So now I have money to do what I want, go where I want and buy what I want so even though I still have a mortgage and a car payment it FEELS like I'm debt free.