Celebrating Every Money Win

Celebrating Every Money WinWe’re turning up on Saturday night over here, at home, and celebrating some money wins!

I decided that every time we pay off an item in our debt snowball, we will celebrate frugally, by way of a homemade Funfetti cake (or brownie cake for the non-cake lovers in our household)!  Gabby and Jesse are not fond of cake.

Yesterday, we paid off our first 401k loan (we had 2 total 401k loans).  This particular loan was originally $4,800! We’ve had this loan for almost 2 years and only making minimum payments, until this month. We paid the balance off 2 months early. Hey, it’s something!

Today, we paid off my iPhone 7 in the amount of $593.56 – I was 6 of 24 months into a 2-year installment plan paying a little over $30 per month. Total cost of the phone was $749! It was the last of our 4 cell phones to be paid off in full.  Now, we own all 4 of our iPhones outright. Jesse is riding with a dinged up and cracked iPhone 6 Plus; we may have to think about starting a sinking fund (savings) for a replacement device.

When we celebrate this way, it allows our kids to witness our hard work, how much we value getting out of debt, and hopefully learn not to go into debt themselves when they’re older.  We show them we hate owing anyone, thus we party and celebrate whenever we get rid of another creditor!

Eli Funfetti CakeEli loves our new tradition! He loves helping mom in the kitchen, especially when it involves sweets. Don’t mind his missing 2 front teeth!

What are some frugal ways you celebrate paying off debt?