If you’ve been reading Six Figures Under lately, you know that we recently passed an exciting milestone. We got our debt under six figures! Do you want to know what we did to celebrate?
Is that lame? We smiled and were happy with our progress, but we didn’t do anything. We didn’t spend any money. We didn’t go anywhere. We aren’t burned out or anything, we just didn’t need to do anything special to reward ourselves. For us, reaching the milestone was the celebration. We were excited to see what we had accomplished and we moved onto the next step. But maybe we’re just boring.
For many (or even most) people, doing a little something extra to celebrate a milestone helps make it more meaningful! Go out for ice cream. Take a break from earning extra income and do something you love. Sit down with your favorite treat, watch a movie with your spouse, then plan for the next milestone. Just don’t do anything crazy that will break your budget and cause you financial stress later.
If you are dealing with debt on your own, it is especially nice to have someone to share your good news with. If you have dared to disclose your debt, then you probably already have people rooting for you that would love to help you celebrate. You can share your news on your blog or social media and celebrate with some virtual high fives.
A milestone can be anything you choose. It could be paying off a specific credit card or loan. It could be paying off a certain dollar amount of debt. It could be having a certain amount remaining. What ever it is, go for it!
Reaching milestones will give you the psychological boost you need to keep going. The excitement and pride you feel in reaching a smaller goal will motivate you to continue on to the next step.
It’s Your Turn
- What debt-payoff (or saving) milestones have you celebrated or plan to celebrate?
- What have you done (or what will you do) to celebrate your milestones?