We’ve come to the end of the month – and what a month it was. I paid off 5 debt obligations, including the top 3 listed on my September Tsunami Situation Report. I also paid off both of my Federal and State tax obligations for 2018 ($3,238 to the Feds and $2,819 to the State). See The Tsunami Situation – Tax Edition for details.
What I’ve read and heard from other people in the debt free community is that celebrating one’s wins along the journey is essential.
I’ve never been much of a celebrator. I operate more like this: I did it. It’s done. I’m moving on. I’ve been that way since I can remember. Even for my college graduation, I couldn’t be bothered to fully participate. There were two graduation ceremonies – one for my particular school of the university and another for the university, as a whole. As far as I know, most of my classmates attended both of the graduations. Once I got my degree in the first ceremony, I told my family that we were clear to go.
I’ve been the same way about my accomplishments since then. The professional licenses earned, the deals closed, and the jobs acquired often go unacclaimed. Once the goal has been reached, I don’t spend much time appreciating or basking in what I’ve done.
So the pay-off of a debt – especially a relatively little debt – isn’t something that I would have previously deemed to be celebration-worthy. It’s just not my style.
Howeva . . . this is a new day and I’m on a new journey. I’m willing to do whatever I need to do to stay on my path. My road to debt freedom is not likely to be a short one and, with that being the case, I will do what those who have succeeded in this have done to keep themselves motivated to continue.
Members of the debt-free community identify the celebration as a way of formally acknowledging the accomplishment of getting one step closer to the ultimate goal of debt freedom. It’s an opportunity to appreciate the choices and sacrifices that were made in order to crush that particular debt. Taking the time and energy to appreciate what you’ve done helps encourage one to continue onward and not give up. I can dig that. I really can.
That said, I’m officially converting to celebratorianism, that is, the practice of engaging in merriment and appreciation to commemorate a job well done. I’ve established a model for my festivities. After all, there will be 15 of them by the time I get to the end of my journey. I don’t want to be all willy nilly with my celebrations, lest I get out of hand in the name of rejoicing. Willy nilly freestyling is what got me into this mess in the first place.
For each debt paid, I will allow myself to celebrate by spending an amount of money equal to 1% of the outstanding balance of that debt as of July, 2019. The significance of the July, 2019 date is that that’s the month during which I got very serious about my commitment to pay off debt. The use of a percentage works well because it will allow for larger celebrations as I move along my list of debts. In other words, the celebrations will be commensurate with the debts paid.
I’m officially converting to celebratorianism.
~ Single Girl
For example, for the payoff of my 2015 IRS bill, I’ll be able to buy something or engage in some kind of activity that costs up to $17; for the pay off of my second student loan, I’ll allow myself up to $868.
You’ll find my Milestones and Rewards schedule below.
A word about the octopus: you’ll notice that one of my first rewards for the debts I paid off in October is the octopus app. I’m not referring to an app for a mobile device. I’m talking about the best octopus appetizer in all the land! I’m so excited! One of my favorite restaurants serves this Mediterranean-style octopus and I’ve been in love with it since I first had it. To celebrate what I did this month, I plan to get an octopus appetizer (maybe 2), along with this gin and hibiscus martini-style drink that that serve (which is also one of my faves). I haven’t been to this restaurant in several months and the last time I went, I didn’t pay for it. The time before that, I didn’t pay for it, either. So, this will be the first time in a while that I have gotten myself my lovely octopus appetizer. I’m so looking forward to it. I’m also fired up about going to the movies, eating popcorn and having a half blue raspberry, half cherry slushie.
When you’re making sacrifices and actually being intentional with your money, these “little” things are delightfully exciting.
How do you celebrate when you pay off a debt?