Debt

I would have liked to be debt-free at this age (47 turning 48). 

However I have no such luck. 

I have just finished paying my university loans (for my undergraduate degree).

Now I have a housing loan + a car loan. 

In 2 years' time I will be able to withdraw the monies in my Account 2 (or whatever that is left of it).

I have paid for my eldest son's course fee to enable him to work in Germany.

My daughter is also starting her degree course.

What I am able to provide them is a debt-free existence after they finish their studies.

I am glad to have been able to do that.

I did not any better.

After graduation I had some student debts.

I had some overdrafts from my poor spending habits when I was studying.

I mistakenly took the credit card offers when I started working and worked up quite a bill.

All were eventually paid off, but I suffered financially as a result.

I didn't earn all that much to be able to recover, and needed to be in debt (still) to be able to buy the house and the car. OH MY MY MY!

For my children I have advised them to save, save and spend. The allocation to pay off debt is for them to save, and perhaps invest in some shares in future? If they manage things well they'll be able to retire quite comfortably by 40. Mark my words.