We are done paying off our bank debt!

Published On January 15, 2015 | By Morten Storgaard | Debt free living

So it finally happened – We are done paying off our bank debt!

We still have some student loans left, but they are no big deal, as the interests are super low on student loans in Denmark.

It feels so good. We have been working really hard on this for four years, and (as some of you will know) this was our initial reason for downsizing.

We were in San Jose when it happened, and here’s a tiny video of us dancing, after checking our accounts on the Dec 12th:

We have been blogging about how to get debt free fast, and if you want to see out budget for the last couple of years – here it is :)

So what happens now?

We have been looking forward to this day for so long, and it’s rather surreal to finally be done with it.

We have decided, that Morten should start working less, as we would like to focus more on our website about Murphy beds. Morten does online marketing, and it makes sense to start focusing more on our own projects now, and work a little less for clients, as our next goal is to establish an online income, that will be as automated as possible.

By the way we just started selling a DIY-plan, so people can build a Murphy bed like the one we have.

cheers

We also agreed to start saving up some money. This will certainly be a new experience – it’s more than 10 years since we had money in the bank!

Besides that we will buy some inventory for our e-commerce site, where we sell board games. We run this shop together, and until now we have only had a few products on the site, because we decided early on to only buy a limited amount of inventory until we could do it with “our own” money.

The greatest part about being debt free is, that now we actually get to keep the money we earn each month. At times I felt kinda funny about working, because I knew most of the money would go to the bank, and I’m not a big fan of banks :)

What about GoDownsize.com?

We will continue to live the way we do now, because we love the freedom we get from living in a small apartment. We have started traveling more during the last year, and we will continue to write about downsizing-related stuff here on the site.

Subscribe to our new Travel Channel on Youtube!

Maria started a Youtube channel, and we’d love to bring you along on all our travels. Click here, scroll up and hit the red “Subscribe” at the upper right corner.



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