Comments on: Celebrate Debt Reduction Milestones

By: Be Debt Free America

Be Debt Free America — Sat, 06 Feb 2010 01:35:22 +0000

Celebrate by going back to work tomorrow to earn more money to pay more debts!! Ok, that isn’t very fun. I remember when I was paying off my debts, I made a list of them with their amounts and every month I would update the balance left.

When I paid one off, I would celebrate by crossing it off the list. I know, pretty simple. But it felt really good!

By: Laura@nomorespending

Laura@nomorespending — Sat, 23 Jan 2010 06:40:08 +0000

Great post! You’re right once the debt has gone, there’s still work to be done. We’re onto the mortgage now!

By: Matt Jabs

Matt Jabs — Fri, 22 Jan 2010 15:45:45 +0000

Way to go TTolar – I love sharing in the success of others!

By: TTolar

TTolar — Fri, 22 Jan 2010 15:36:49 +0000

We just paid off 2 major loans, a vacation, and next week we will add a student loan to the list! We have one student loan left to go and no more debt! We celebrated by opening a savings account to save for a house.

Congrats to everyone on their successes!! I think this was a great post to do – sharing other people’s success. Makes me feel even more inspired!!

By: Matt Jabs

Matt Jabs — Fri, 22 Jan 2010 04:39:53 +0000

lol… go for it Ronnie!

By: Ronnie J

Ronnie J — Thu, 21 Jan 2010 19:05:34 +0000

Okay, I admit it, I’m spending money! I have a healthy love of nail polish, so when these credit cards are paid off I’m buying 3 new colors. Then I’ll pay off my car. Then I’ll probably get a massage. Then I’ll pay off my student loans, but that’ll take another 15 years, so who knows what I’ll want to do when I’m 45??

By: MoneyEnergy

MoneyEnergy — Thu, 21 Jan 2010 18:51:39 +0000

Nicely said – don’t screw around once you’ve got your debt paid off – keep at it and redirect the cash. Boost your savings and emergency funds if they’ve been lacking. Fix the things that need to get fixed. Start a conservative investment plan. *Then* start planning for the fun stuff again. Remember, it’s just like healthy weight loss…. you don’t want to yo-yo!

By: FinEngr

FinEngr — Thu, 21 Jan 2010 17:29:53 +0000

Matt & Paul – Congratulations to both of you! Milestones are commonly used in heavy civil construction projects much for the same reasons.

The front-end component of milestones is that it gives you a much closer, more reachable goal. Breaking down a large task saves tons of mental anguish. The back-end is just what you talk about here, a chance to celebrate!

I had set a savings milestone for myself to be completed in Dec 2009. I reached it shortly after (this month) and plan to celebrate by continuing to blaze ahead!

By: Paul @ FiscalGeek

Paul @ FiscalGeek — Thu, 21 Jan 2010 15:39:05 +0000

Great post Matt and I agree 100%. These small celebrations were what helped us blast our way out, one credit card done, celebrate! Car paid off, celebrate! Saved your full emergency fund, go on vacation, that’s our plan!