As I was on my way to a meeting today at work, I started thinking about the things I possibly want to do when I get out of debt. I came up with quite a list and thought I would share a few with my readers. My goal is to be rid of my non-mortgage debt by May 2009. This gives me 2 yrs to knock out over $60k in debt. It can be done. I've seen it done. So, without further ado, here is my list:

  • Get lasik surgery - Cost: about $6k
  • Take a cruise - Cost: about $3k (flight, cruise cost and food)
  • Buy new furniture - Cost: about $3k
  • Remodel my kitchen and bath - Cost: $10k???
  • Pay off my Mom's debt - Cost: $5k
  • Invest in an additional Investment Property - cost unknown
  • Pay more towards my Mortgages to pay off my Primary home and Rental Property

Of course, I would not do all of the above at one time and it would be paid for in CASH! I think having these goals in mind will keep my focused on my goal of paying off debt so I can do more of what I want to do with my money.

If you are in debt, what do you want to do when you pay off the last dime? If you recently paid off debt, what did you do?

6 comments

  1. lowman25 // July 26, 2007 at 10:21 PM  

    Not in debt, but still basically living in the paycheck to paycheck world as I save towards the 6 months living expenses....but I'd really love a wave runner. Whoever said money can't buy happiness was wrong, cause money can buy you a waverunner. Have you EVER seen anyone unhappy on a waverunner? I didn't think so....

  2. SingleGuyMoney // July 26, 2007 at 10:25 PM  

    Lowman 25 - I agree!

  3. ntbeachnc // July 27, 2007 at 9:33 AM  

    FYI...Lasik costs around $3 or less. I got it done in DC with one of the top ranked doctors in the area and it was about that for both eyes doing the CustomVue and the laser cut (instead of the blade).

    And some insurances will give you a discount. Plus, some doctors if you pay in full and with cash will give you a discount.

  4. ntbeachnc // July 27, 2007 at 9:33 AM  

    I meant $3000. Oops.

  5. PT // January 7, 2008 at 3:20 PM  

    @SingleGuyMoney - Dude, you have a solid Net Worth. And as shrewd as I think you are I'd bet your debt is costing you less than 7%. So, I think you can take it a little easier on yourself and spend the money to get that lasik now. It's the best investment I've made in a while, and I was able to spread it out over 6 months at 0%.

    I know we have different goals, I just think you are well leveraged at this point and can afford more risk with a little debt that will greatly improve your life.

    I also have some things I'm waiting to be "bad" debt free before I spend the cash. But they are very frivilous things, like my own laptop, new truck wheels, etc...

  6. Elizabeth // March 25, 2008 at 10:04 AM  

    Lowman,
    Daniel Tosh fan?