I’m Debt-Free… Now What?
In July 2024, I hit a goal that once felt completely out of reach: I became debt-free after making my final student loan payment.
No more student loan. No more WINZ repayments. No more quietly owing money to my parents or juggling bills to make sure everything got paid. For the first time in years, I wasn’t under water.
It’s worth noting that I technically hit $0 net worth before that, but that just meant the value of my small savings and investments had finally balanced out my debt. I was still in the red, but it was the turning point. Becoming truly debt-free felt like crossing a finish line.
I’d spent years clawing my way out of a financial hole - one careful budget, one small savings goal, one act of self-discipline at a time. I thought that when I finally cleared my debt, I’d feel… euphoric.
And I did. For a while.
But then a strange question crept in: Now what?
When Paying Off Debt Was the Goal
Debt repayment gives you something clear to work towards. There’s urgency. There’s structure. There’s a very obvious sense of “right, I need to get out of this.”
But once the debt is gone, the structure disappears and you’re left facing a blank page. For a while, I felt a little lost. I’d been in survival mode for so long that I hadn’t thought much beyond the milestone.
That’s when I realised: becoming debt-free isn’t the finish line. It’s the starting point.
The Boring Part Is Over… Now It Gets Interesting
Let’s be honest: servicing debt is not fun. It’s not exciting to make regular payments knowing they’re just covering interest or slowly chipping away at a balance you resent.
Now that I’m debt-free, my money gets to go places that actually serve me:
Into my emergency fund
Into my KiwiSaver and shares
Toward school savings for my child
Into a small fund for the first real holiday we’ll take in years
And while I still dream of one day owning my own home, I’m also realistic about the barriers I face as a single mum. That doesn’t mean I stop dreaming, it just means I choose goals that fit where I am right now, rather than forcing myself into someone else’s financial timeline.
Replacing Survival Mode with Purpose
When you're in debt, every dollar has one job: get you out of it.
When you’re debt-free? You get to decide what your money is for.
That can feel empowering but also overwhelming. I had to shift my mindset from scarcity to strategy. I started asking questions like:
What kind of life do I want in five, ten, twenty years?
What makes me feel secure? What brings me joy?
What does financial freedom mean for me?
I don’t have all the answers, but I’ve learned that you don’t need to figure everything out overnight. Just keep making aligned decisions, one step at a time.
You’re Allowed to Rest… And Dream Again
One of the biggest gifts of being debt-free is the ability to breathe. To slow down. To enjoy the little wins instead of constantly chasing the next fix.
That doesn’t mean I’ve stopped setting goals. It just means I get to choose goals that are rooted in abundance, not fear.
It means I can say:
I want to retire with dignity
I want my daughter to feel secure
I want to take her on a holiday and show her the world
You Were Always Worthy
Becoming debt-free didn’t make me more worthy. But it did prove something to myself: I can do hard things. I can make big changes. I can rewrite my story.
If you’re still in the thick of it, I hope this post encourages you. Keep going. The boring part will pass and when it does, there’s a whole new chapter waiting for you.
And if you’re like me, standing on the edge of what comes next, know this: you’re allowed to take your time. You’re allowed to change your mind. You’re allowed to dream new dreams.
Debt-free is not the end. It’s the beginning.
