15 Unforgettable Debt Free Celebration Ideas – Family and FI (2024)

The numbers are shocking. According to Bankrate, the average debt for American Millennials (born 1981-1996) is $78,396 and the average for Generation X (born 1965-1996) is $135,841. If you are here looking for debt free celebration ideas though, that means that you are refusing to be average!

Congratulations on not being normal! I’d like to invite you to join our tribe of other not-normal people. You should join The Financial Independence Community Facebook group if you aren’t already a member and fill out the form at the bottom to sign up for our awesome tips and freebies.

Becoming debt-free is a major milestone that most people never accomplish. When you no longer have debt payments, you are able to skyrocket yourself into wealth and financial independence.

Celebration is in order when you reach a major goal – especially when that goal is as big as something like this! Here are 15 inexpensive debt free celebration ideas that you should consider.

Debt free celebration ideas

1. Go on a trip

Traveling is a popular way to celebrate the completion of any big milestone. Taking a trip doesn’t have to be expensive either. Shop for off season deals or learn how to travel hack to save money.

2. Invest in yourself

Take a chance on a business you’ve always wanted to start. Now that you don’t have any debt, your risk isn’t as high. If you start your business now, you never have to wonder, “what if?” You never know, you may just be a huge success.

Additionally, you could take a new course to advance your skills.

3. Pamper yourself

Naturally, you would probably assume I mean to go to a spa. While a spa day is nice, it only lasts a day.

What if you were to make a pampering purchase that you could use everyday. For example, check out this Bestway inflatable hot tub and this Esright ergonomic massage chair.

4. Give generously

There is no better feeling than to do something good for others. Maybe you want to make a payment towards someone’s student loans or other debt.

Another idea would be to ask your local charity or organization what they need, then donate those items.

5. Recreate your journey

This is exactly what we did when we became debt free. We felt as though the journey to debt freedom was a lot like an uphill journey. So we wanted to reflect on that by driving to our nearby mountains and hiking up a trail.

The climb up the mountain signified the uphill and sometimes difficult part of paying off debt. At the end of our trail was a beautiful waterfall that we felt represented the beauty of becoming debt free.

At the end of the hike, we fulfilled something we always wanted to do: a debt free scream! You can watch Our Debt Free Celebration video here as well as take in the beautiful scenery of where we hiked: The Great Smoky Mountains.

6. Have a luxury meal

This could be going to a fancy restaurant and ordering your favorite wine or having a backyard BBQ with all the steak and seafood you can eat. Indulge in your dream meal, whatever it may be!

7. Take time off work

Allow yourself a real break. Take a few days off work to read a new book, plant that garden, or to just regroup with your life plans.

Need a book idea? Check out these 5 popular finance books you should read.

8. Buy a cake

Nothing says celebration like cake. I mean seriously, why do people only buy cake for birthdays?

If you want a surprise twist, just call your local bakery and tell them you want a cake to celebrate becoming debt-free and to tell the decorator to surprise you with one of their choices (just be sure to tell them your budget and flavor you like.)

9. Have an adventure

Do something you’ve never done before. Try skydiving, deep sea fishing, white water rafting, etc.

10. Knock something off of your bucket list

In case you don’t know, a bucket list is essentially a list of things you would like to do before your time on Earth ends. If you don’t have a bucket list, maybe you should create one.

What is or would be on your bucket list? Would you see the Wonders of the World or maybe write a novel? Now is the perfect time to celebrate by completing something just for yourself.

11. Do a debt free scream

You don’t have to go on a show to do a debt free scream. Get creative. Scream that you are debt free from a mountain top, rooftop, in a parking lot or even out your front door.

12. Have a party

Currently, “debt free parties” are slowly becoming a thing. However, you want to make sure your guests are true supporters of your goals. Otherwise, you may have some envious guests that may unintentionally put a damper on your spirits because of their own insecurities.

If you don’t think your guests will truly be happy for your success, have your own private party.

In fact, one of our favorite things to do as a family is to have party nights. For example, we will rent a new movie and buy a whole pie, mozzarella sticks, chips, wine, etc. Then, we set up our living room as the World’s Most Comfortable Theater and pig out.

It’s ALWAYS a great and inexpensive time!

13. Rent a boat

Owning a boat might not be the best idea, but what about renting a boat? If you have a large body of water nearby, search for boat rentals in your area. Then, have a day full of fun water sports and cooler sandwiches.

As a price reference, we recently looked into renting a boat for a day in our small town and the price was $140 for half a day.

14. Take on someone else’s dream

Whether it be a friend or family member, everyone has a dream that they have never achieved. This especially applies to the elderly.

Find out what your loved one has always wanted to do, and if it is within reason, make that dream happen. You will create a beautiful memory and your loved one will forever be grateful.

15. Give yourself a raise

Out of all these debt free celebration ideas, this one is a must. Increase your contributions to your retirement accounts or other investments. You deserve it!

Have some of your own debt free celebration ideas? Leave them in the comment section below. Lastly, congratulations again on your huge success. Fill out the form below to join the tribe.