My family is very frugal and we are trying to get our house paid off as quickly as possible, because of this we sacrifice in other areas all the time (we don't eat out often we don't go on trips etc) so we decided when we got each 10,000 paid off we would celebrate. well we will hit our first 10K next month and are trying to think of something to do. At first I had said we would just go eat out as a family but I thought I wanted to celebrate a little more than that. My husband thought maybe it should be something progressive progressive like eat out this time and then the next 10K we would do something a bit more. We have already planned what will happen when we get it all paid off. A big family trip. Any ideas would be great!!! I am ok with the same thing each time or getting them bigger each time.
thanks for the good advice! I loved a lot of the ideas and wish we could do them all :) We settled on buying a new board game for the family ( we love board games anyways) AND I had a gift card so I got the game for half price! We plan to have a family movie night and my husband and I plan to eat out and have my parents watch the kids. I also love the idea of doing something for the house. So I think we have been saving a little each month for a sectional couch seating- we will buy it when we hit the next 10K. As for this 30 year loan, IF we can keep paying at this rate we will have it paid off in 4 1/2 years so my kids will not be 30 when we take our family trip! :)
I like the buying of an item for the house each time idea too. Something that lasts a long time vs. something that is fun but then is over -- KWIM?
Well, obviously, buy something for the house you've been putting off. New appliance, fabulous new sofa, dining room table, landscaping, deck.....giant flat screen tv....
:)
I agree with Theresa on buying a gift for the house that you all can continue to enjoy and will remind you of your great budgeting.
You might take a survey about what the members of your family have missed as they've worked together to reach your financial goal. If it's eating out, then a restaurant would be a good idea. But maybe somebody thinks of going to a show, or of going to so-and-so's house (a trip that isn't huge but would require a tank full of gas). If you can gather that information, then you can make a list of ways to celebrate that would satisfy everyone in the family sooner or later.
Movie? Bowling night? Batting cages? Mini golf?
First of all...good for you!!!!
With the ages of your children, I would say that making a family memory would be a great idea. Since next month is October, maybe you could go to a nice pumpkin patch farm for the day and pick pumpkins, get treats, go on a hayride, etc. I think you would all enjoy that and it shouldn't be super expensive. Progressive sounds good to me too. Maybe in addition to what you are saving for your house, you could put $10/week away for your big splurge when it's all paid off!
Amom2--I'm thinking they are trying to pay it off MUCH sooner than 15-30 years...that's a regular mortgage! L....? How long do you think it will take you to pay it off at the rate of the first 10,000?
maybe a nice big picnic at a park (if the weather cooperates). you could take along kites, frisbees, bikes, balls etc and have a super fun outting. then maybe pick out a fun movie or two as a family to either buy or rent, and have a big fun family movie night. there is nothing that says your big celebration has to cost a lot of money. plus, things like buying family movies or games are something you can enjoy again and again so it makes the money well worth it.
OR, if you can swing it, get a babysitter for the night and you and hubby go out and have a nice dinner to yourselves, maybe a little dancing or window shopping. who knows
also, congratulations on your big success!!!!
Congrats on making your goal, that's wonderful! I like your husband's idea, doing a nice family dinner out (something, if you're like us, you rarely get to enjoy while pulling yourself out of that hole, if at all), and then for the next 10K, do something huge!! That's a BIG accomplishment, and you deserve to do something nice for yourselves :)
Maybe you and your husband can put your heads together and, on top of going to dinner, think of ONE NICE thing that you as a family would enjoy, something you've been putting off for a while... then save it for Christmas! Maybe a new t.v. or new furniture, or maybe even a weekend 'staycation', going around your normal stomping grounds but doing 'touristy' stuff... like I've lived in Richmond for what, 10, 13 years, and I have yet to do the tourists 'Richmond tour', where you go around on the party bus and check out all the historic monuments, churches, cemeteries, and museums :)
Enjoy! You earned it! :)
I agree, you should get something that everybody agrees on for the house.
Or, you could buy a new board game and play as a family and then decide on a movie to rent, order some pizzas and drinks and have a Family Fun Home Night.
Whatever you choose, make it really fun!
I admire your desire to pay off your house, but this is a long term debt that - depending on your terms can be 15, 30 yrs. I also understand you are frugal, but 30yrs after you have it all paid off, you have added 30yrs to each of your family member's life/age. The house will always be there, but your family will not always be around. My suggestion would be to budget each month or so to take your family out for dinner or celebrate taking a drive or trip somewhere where you can all be together having fun talking or doing otherwise. This will not break your bank and it surely will not make much of a dent in paying off your house. Just my 2 cents.
Be careful indulging. It can be habit forming. You've been on this strict budget and if you go off it for something frivolous, you're going to feel either way too guilty to enjoy it or it's going to feel so great, you'll have a hard time stopping! Buying something nice for the house that will be a reminder of your accomplishment sounds like the perfect idea. Upgrade the home you are working so hard on. Or maybe a game, like the wii, for the whole family to enjoy while staying home together. You could buy several board games and a new folding table and chairs to enhance your family game night.
