Author Topic: Gift/Party Recommendations for Debt Payoff Celebration  (Read 2055 times)

cincystache

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Gift/Party Recommendations for Debt Payoff Celebration
« on: April 19, 2019, 06:32:46 PM »
Background:
My father in law asked for my help 3 years ago with his finances. I found out he had 280,000 in Parent Plus loans. None of the 4 kids knew about the debt, his wife filed for divorce around this time and he took on all of the debt as part of the settlement. He's been busting his butt the last three years and has paid it down to 65,000, planning to finish by the end of the year.

Question:
I really appreciate my FIL for stepping up and getting it together financially the last 3 years. Any suggestions on what to get him or what to do to congratulate him on getting this massive debt paid off? He isn't one to toot his own horn but I feel compelled to do something and possibly involve my wife and her siblings to say thank you in some fashion.
 

Villanelle

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #1 on: April 19, 2019, 07:08:19 PM »
Background:
My father in law asked for my help 3 years ago with his finances. I found out he had 280,000 in Parent Plus loans. None of the 4 kids knew about the debt, his wife filed for divorce around this time and he took on all of the debt as part of the settlement. He's been busting his butt the last three years and has paid it down to 65,000, planning to finish by the end of the year.

Question:
I really appreciate my FIL for stepping up and getting it together financially the last 3 years. Any suggestions on what to get him or what to do to congratulate him on getting this massive debt paid off? He isn't one to toot his own horn but I feel compelled to do something and possibly involve my wife and her siblings to say thank you in some fashion.

Is there some kind of gift that will help him save money in the long term?   I'm thinking of things like a bike (save future driving costs), although that might not be the right fit for him.  Cookbooks, a lawnmower (if he pays for lawn service), or some other gift that will help him save money and maybe also make his life easier. 

CindyBS

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #2 on: April 19, 2019, 08:54:26 PM »
For a gift - what about giving him something he cut back on to free up cash to pay down the debt.  Restaurants?  Booze? 

RFAAOATB

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #3 on: April 19, 2019, 09:06:12 PM »
Gift/Party recommendation: Give him a metal bucket and a BBQ lighter to burn those debt invoices, and a bottle of liquor worth an average month's interest payment.  Be sure to post on social media or it doesn't count.

Trifle

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #4 on: April 20, 2019, 08:30:28 AM »
Gift/Party recommendation: Give him a metal bucket and a BBQ lighter to burn those debt invoices, and a bottle of liquor worth an average month's interest payment.  Be sure to post on social media or it doesn't count.

+1.  Burning something, while gathered with friends and family, can feel very meaningful.  Nice bottle of something (if he drinks) is a nice added bonus. 

cincystache

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #5 on: April 23, 2019, 03:49:42 PM »
thanks for the replies everyone. I like the burning idea a lot. I'll have to think about the liquor, he's not a big drinker!

Finallyunderstand

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #6 on: April 24, 2019, 09:58:43 AM »
Take him out to a nice dinner to acknowledge the hard work.  Invite the other family members.

TVRodriguez

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #7 on: April 24, 2019, 12:21:41 PM »
I second the "nice dinner out with the kids" idea.  Burning at home before heading out can be a nice moment.

But NO SOCIAL MEDIA unless he expressly allows it.

AlotToLearn

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #8 on: April 24, 2019, 03:14:30 PM »
I will second a very nice dinner.

mozar

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Re: Gift/Party Recommendations for Debt Payoff Celebration
« Reply #9 on: April 25, 2019, 11:12:10 AM »
A nice gift would be having the 4 siblings pay off the remaining debt.