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I Finally Rewarded Myself For Hitting My Goal


I made a huge goal for myself this year: paying off my mortgage. I have definitely had my ups and downs with this goal, but I thankfully hit one of my major milestones at the end of April and got my mortgage below $40,000!

For nearly a year and a half now, I have been wanting a brand new bicycle. I have not always been a bicycle enthusiast, but I started competing in triathlons last year (which includes swimming, bicycling, and running) and my old 1982 Schwinn wasn’t quite doing the job. In order to compete I knew that I would need an upgrade. However, I am not the kind of guy that just goes to the bike shop, points at a bike, and dishes out $2,000 on the spot. This new bike was a want, not a need, so I decided to make a goal for it.

Bicycles can cost ridiculous amounts of money. For a new triathlon bike, you could easily spend more than $3,000 or $4,000. This isn’t exactly my style either, so I have been on the hunt for a bike that will fit me, will get me moving a little faster, and won’t empty out my bank account. So, instead of going to the expensive bike shops, I decided to take my search online. Thankfully, I stumbled upon a site called From what I have heard and read, bikesdirect sells quality bikes at a severely marked down price (due to the direct shipment model). Sure, they might be a hare below the quality of a Trek bike or a Cannondale, but for my needs, it should do just fine. From this site, I was able to find a nice, brand new 2014 triathlon bike for only $549 (which includes shipping and tax)! I had this bike picked out around Christmas time and immediately made the goal of paying down my mortgage to $40,000 before I made the purchase.

At the end of April, I was ecstatic when I was able to bring my mortgage down to $39,999.99. Not only was that a crazy low number to look at, but this meant that I hit my goal and could now order my bike!

The shipment is supposed to come in on Tuesday and will hopefully only take me an hour or so to assemble (it comes 90% assembled). Take a look at the bike below. Not too shabby huh?


Are You Rewarding Yourself For Your Goals?

Do you have goals that you have set for yourself? Have you also set mini goals along the way to keep you on track for your larger goal? If not, you definitely should. Not only does it push you a little harder to hit your overall goal, but your small rewards along the way will actually mean something to you when you look at them! Instead of getting a feeling of regret for having spent the money on my bike, I will now look at it and think, “I got that bike because I hit my mortgage goal”. These little prizes almost create monuments of our life’s accomplishments! How cool is that?

Do you have future goals? What are your rewards along the way?


Weekly Round-Up

10 Frugal Fun Things to Do – by Krantcents

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Should You DIY? – by Narrow Bridge Finance



My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.


  1. Congratulations on hitting your goal! Rewards are important to keep motivated, I like going out for dinner so a night out to a restaurant tends to be my goal. Good luck with the rest of your repayments.

    • Thanks Victoria! Dinner would be a great reward for a few goals along the way. I should probably set another goal for when I get my debt down to $20,000. I think I might reward myself with a used tablet or e-reader or something. That would be nice to have. 🙂

  2. How awesome! I can’t believe how fast you’ve paid it all off. I update Dave on your progress when you post about it. We are rootin for you!

    • Well, I didn’t pay off the entire mortgage yet! I just got it down to $40,000. It still feels good though. I can’t wait to get the bike on Tuesday! 🙂

  3. That is awesome!! We HAVE to do reward ourselves at times, otherwise why do it at all? I do set mini-goals as well, just to keep it all in perspective.

    Things for us are moving fast; we’ve been to financial people to discuss where we are, and whether I can retire when I want to. My initial plan had been 2018, but recently work has become that much more stressful and I realized four more years was just too long, so my husband and I discussed our options, and have moved in the target to 2016, when he is eligible to start social security.

    Of course we needed to know whether that target was realistic, so we took advantage of a free service through my work and got the thumbs up! It was very interesting; they asked all the appropriate questions to ensure every bit of our spending is understood, then joined all our money pools (401k’s, pensions, savings, etc.), accounted for inflation, etc. and the answer is YES! We won’t be rich, but we will be comfortable enough for me to be able to do it, so I now have a goal of less than two years. I can DO that! AND its incentive to keep increasing our savings as much as possible. While do so I am also doing a quicker payoff of a car I purchased last fall (a certified pre-owned car, something I have never done before, but wouldn’t hesitate to do again if needed – so much more car for the money!).

    goals and rewards – my goals is early retirement, my reward will be freedom!

    • That’s great Nancy. You’ll be retired in 2 years?! I’m a little jealous. Do you think you’ll have to reduce your lifestyle though?

  4. Thanks for inclusion and hosting, I really appreciate it.

    • You’re welcome krantcents. Keep on writing!

  5. Well done Derek on getting your mortgage below $40000. I think its great when you set little mini goals for yourself as then you can see when you are making real progress and it really helps to keep you motivated.

    Last month our mortgage got below the £40000 mark and it felt great. I don’t thin Ill quite be able to pay it off as quick as you hope to but Im aiming for June next year.

    Enjoy your new bike!

    All the best, MFF

    • I’m not sure I’m going to make my December deadline. Maybe we’ll end up getting rid of our debt around the same time! Keep at it and best of luck!

  6. Way to go, Derek! I am following along and rooting for you:).

    Unfortunately…we just discovered that our bicycle was stolen out of our garage (shows you how often we were using it). Your new one looks awesome! Have fun with the competitions and training.

    • I can’t wait to get on it to see how fast I can go! 😉 Thanks for rooting me on!

  7. Way to go on the mortgage. I think rewards are a necessary step to keep focused on the main goal, although paying that sucker off must be a pretty good reward in itself. I do a sprint triathlon every year, and having decent gear certainly makes a difference. Someday, I’ll get one of those triathlon suits, but I’ve been too cheap since I only do it one time a year! I hope you’ll update on how much the new bike improves your times.

    • You do sprint tri’s too?! Awesome! I hope to get my bike today and will likely put it together immediately (due to my excitement). I will let you know how it rides!

  8. That’s a nice bike! I rewarded myself a few years ago when I got out of debt by buying myself a bike as well. It was a Trek mountain bike and I still have it an ride it to this day.

    • Thanks Jon! I ride it all the time. In fact, I signed up for our local bike outing tomorrow and will be riding a 36 mile route. Should be a great workout! 🙂

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