I’m still feeling under the weather, courtesy of my vaccination on Friday. I very rarely get ill, so I always feel as though I’ve been hit by a truck when it happens! Runny nose, aching muscles and joints, thick head and a general lack of drive to do anything. In short, not fun.

But, one advantage is I have not done all that much the last couple of days. I have spent most of today in fact thinking about what I am going to do when I am finally debt free in the next month or so.

A few years ago I would have splurged on all kinds of ‘toys’, new gadgets, a big expensive holiday and so forth. The last 10 months has disconnected me almost entirely from the consumerism that got me here in the first place.

So what will I do when I am debt free?

I will treat myself to Burger King

As silly as this sounds, I have not eaten out for myself at all this year. I have been frugal in my food shopping, dining and cooking experiences, and just once I would like to say “to hell with it” and go have some fun in a culinary sense. I can be fairly certain to walk away pretty full and not spend more than £10 for the privilege.

It’s hardly haute cuisine, but it has been something I have been dreaming about for the best part of a year and it will be a major expense for me: Ordinarily £10 will feed me for a week!

I will pad out my Emergency Fund

I have never had one, and I know I need one. Especially now that the Grim Reaper has been trying the doors at work. I think a reasonable starting point would be £1,000 – and work upwards towards 12 months of expenses from there. Currently my emergency fund is £70, and that is a bit of a cruel joke in every sense.

I will take my parents out to dinner

My mum and step-dad have been my rock so many times over the years, but they saved me this year. They put me up – at great inconvenience to themselves – rent free, to help me get out of the dark place that a falling-apart marriage creates. Living rent-free has enabled my “Get Out of Debt In A Year” goal to be a real possibility and not some pipe-dream. Thank you, guys.

It won’t be cheap. While my step-dad will eat just about anything (with the exception of carrots), Mum is allergic to a lot of foods. I need to do some research to find a good setting that can cater for this.

I will open my 2009/2010 Cash ISA

I’ve been singing the praises of ISA‘s on this blog quite a lot. When I am out of debt, it’ll be time to heed my own advice and go and get one!

I will take a short frugal holiday

I need a holiday. I totted up that I have worked an entire extra month in just 9 months so far at work in my ‘debt payoff’ journey, and it has left me feeling old. A short holiday will be nice, just 4 or 5 days will be fine. Somewhere relaxing, somewhere I can just sit back and unwind. Somewhere I can soak up a bit of culture and a bit of alcohol. I will pay in cash, of course!

Should I expand this list somehow? Have I missed a blindingly obvious “when debt free” todo?

Is your glass half full, or half empty?

Generally when asked that question, my glass is most definitely half full.

Except where personal finance is concerned.

As my previous posting history suggests, I am naturally pessimistic in terms of my finances. But where does the line between being a frugalist and pessmist really get drawn?

For example, I have been salivating over getting a new mobile phone for the last 12 months. I have so far resisted the temptation on the basis of getting out of debt. Now that my employment situation looks less than 100% secure, I am resisting on the basis I do not want to be tied into a contract that I may not be able to afford if I get laid off.

But, being laid off is no certainty. The discussion at work has only just begun. I may not be laid off at all – yet I am already living like it is a dead certainty. I have trimmed my budget further, made some changes to my plan for debt freedom, and generally dug myself into a pit of despair over something that may never happen.

Is this healthy?

Is it just financial prudence?

Or am I holding myself back from happiness?

That isn’t to say a new phone would make me happy. I am pleased to report I have moved on from that stage of consumerism. However, when is – in terms of avoiding risk in your finances – too far?

Are Pessimism and Frugalism mutually exclusive? Can you be a Pessimistic Frugalist?

I think you can.

And worse, I don’t think that is bad thing. A new phone contract will work out more expensive for the phone I want (the shiny new Nokia N900), and I do not wish to risk being tied into paying £40 or so for the next 18 months just to get it.

The safer option, so say my pesimistic frugal self, is to buy the handset outright and use my existing SIM card that is ‘out of contract’, and now just rolling month-to-month. If I get laid off, I can cancel it at the drop of a hat without any penalty.

I will pay less over 18 months doing so as well.

Are you a pessimist in your finances? Am I going too far? Any thoughts gratefully received in the comments.

I am currently on leave from work for a few days trying to recover from the immense amount of overtime I have been putting in the last few months. It only worked out 3 days of annual leave and 3 ‘days off’, but the thought of 6 days being able to sit around, chill out, work on the blog and generally recover seemed extremely enticing.

I very rarely get ill. In fact I find myself at the first signs of an illness saying to myself “you don’t have time to be ill. Get to work!”, and it goes away.

I went to bed last night quite early, feeling slightly under the weather and I woke up this ‘morning’ at 2pm with a very thick head, headache, bodily aches and pains and generally, I fear, suffering from man flu!

Our bodies can only handle so much for so long before they demand some tender loving care. I wonder if the Hepatitis B vaccination booster I had yesterday has anything to do with it?

My Favourite Posts This Week

• Tax Avoidance Versus Tax Evasion – Monevator
• Britain Now Less Financially Stable than Nigeria – Money Watch
• Savers v. Spenders: Opposites Attract? – Five Cent Nickel
• Fifteen Things More Important Than Money – The Simple Dollar

The Best Illness Blog Post This Week

• 7 Cheap & Natural Ways to Fight Colds and Flu – Wise Bread

Have a great weekend!