Anyone paid boat off and living rent/debt free

[DeanS]

Anyone taken a big loan to buy their boat, and finally paid it off, and now living almost rent free. ?

 

WHAT'S IT LIKE?

 

(we have 2yrs left and looking forward to the day)

 

 

[Rickent]

We sold our house, paid the mortgage and bought boat, sort of same thing.

it feels damn good.

[ROBDEN]

As above.

 

Effin GREAT!!!!!!

 

Rob....

[Rufford]

It is a hardship trying to drink ones wages each week...

[DaveR]

Same as Rickent, our promise was when the house was paid for then the boat would be bought..

 

We did ours with a Tesco loan, cheapest interest rate at the time and also managed to 'up the payments' to get there in less than 5 years.

 

There is that real pride when I approach and think "it's mine". Even if it is not a gin palace.

 

Dave R

[Phil Ambrose]

We sold our house, paid the mortgage and bought boat, sort of same thing.

it feels damn good.

We did the same, fantastic feeling.

Phil

[Southern Star]

I borrowed £10,000 towards my boat to be repaid over 3 years, 10 months in and it's down to £6,000 as I have been overpaying it. I don't have any other debts though, don't own a house and wouldn't want to. I do hope to have the boat loan paid off by next year.

[peterboat]

My first boat I took a loan out for but I was getting divorced so needed debt. this one I bought cash because I had a lump of money from the divorce not earning anything in the bank. Now have premium bonds as savings much more fun So yes I have been debt free for years easy life

 

Peter

[cotswoldsman]

My first boat I took a loan out for but I was getting divorced so needed debt. this one I bought cash because I had a lump of money from the divorce not earning anything in the bank. Now have premium bonds as savings much more fun So yes I have been debt free for years easy life

 

Peter

Yes my Premium Bonds give me far better return than savings rates and are tax free

[bottle]

Been living the life for six years but was debt free years before that.

 

Have only ever had two 'loans' in the last 50 years, one for a car (I was young and needed it for work) and the mortgage.

 

Otherwise if I could not afford to buy it I did not have it.

 

Have I been lucky. probably but some of that luck was of my own making.

[DeanS]

almost there....almost there.....well done to you all....and those like me, who are nearly there

[Athy]

My first boat I took a loan out for but I was getting divorced so needed debt.

Eh? Could you explain that, please?

[Lady Muck]

Paid off about five years ago, but still permanently skint. Oh well!

[Lmcgrath87]

Bank of dad has provided the loan for our boat, we agreed a 5 year repayment schedule but fingers crossed it will be much less than that due to over payments etc

[Dinz]

House sale financed boat so started out debt free.

Once that happened the sense of calm that arrived was great.

Still work but the pressure to behave and be a 'good minion' went

so now am more relaxed as 'the job' is no longer my life.

Have walked out of a few since being on the boat as 'quality of life'

is now more important than trying to maintain a 'lifestyle'

Once you clear your loan you will find out what I mean!

Good luck.

[Sabcat]

House sale financed boat so started out debt free.

Once that happened the sense of calm that arrived was great.

Still work but the pressure to behave and be a 'good minion' went

so now am more relaxed as 'the job' is no longer my life.

Have walked out of a few since being on the boat as 'quality of life'

is now more important than trying to maintain a 'lifestyle'

Once you clear your loan you will find out what I mean!

Good luck.

 

That's the best thing about it. Not having to be beholden to anyone, to be able to please myself with what I do and when I do it.

[Nightwatch]

We owe nobody owt!

 

A bit of an unbalance between income and expenditure at the moment. I am being threatened with a beer restriction.

 

But, living happily ever after.

[ROBDEN]

We owe nobody owt!

 

A bit of an unbalance between income and expenditure at the moment. I am being threatened with a beer restriction.

 

But, living happily ever after.

Sorry to say but I think you are going to need therapy for that.

I wish you well.

 

Rob....

[blackrose]

I've never had any debt. Bought this boat outright 10 years ago.

 

What's it like? Well, I don't know any different, but I'm pretty sure it feels better than being in debt!

[Jess--]

I was raised with a phrase "Never a Borrower or a lender be" which basicly meant if you couldn't afford to pay for something outright you either didn't get it or waited until you could pay for it.

 

These days the only exception to that rule is that I have a mortgage on the house, no other debts of any description (No credit cards, no overdrafts or loans), the boat I have was bought outright, the mooring was paid for 12 months upfront etc etc.

 

It's nice to know that in the unlikely event of everything turning to sh** for me in the future I can just jump on the boat and go (Only having to earn enough to cover food, diesel and license)