Home Debt Emotional Moment Parents Finally Become Debt Free on Their House—’Grateful’

Emotional Moment Parents Finally Become Debt Free on Their House—’Grateful’

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After 15 years of paying off their home, these parents finally got to celebrate the special moment when they officially became debt free and their reaction is, well, priceless.

Nia Lui has long been inspired by her parents’ hard work which allowed them to maintain a happy home for so long, and now, their dedication has finally paid off (literally). Lui, from Utah, got to enjoy the wonderful moment when her parents, Michael and Maria Ricks, both 61, could finally announce that they’d paid off every last dime of their home.

Seeing her parents commemorate such a momentous occasion is so rewarding for Lui, who told Newsweek that “they are such an inspiration, not only financially, but in their relationship with each other” too. To show their appreciation and congratulate them on such a big life event, Lui collected short video messages from each of her three siblings and played it to her parents as a surprise.

“I was so excited for them. I know they’ve wanted this for so long. And have worked so hard to achieve it. I’m so proud of them. I have always looked up to my parents and how they work so hard to achieve their goals,” Lui said.

“They were poor and in debt with four kids under the age of 5. But we as kids were completely unaware that they had money problems. They created so much fun and love for us, even throughout the hard times. I have so much love and respect for them for creating the childhood that we had.”

Michael and Maria Ricks, both aged 61, celebrate becoming debt-free after 15 years of paying their mortgage. The couple’s four children each recorded a congratulatory message for their parents as a surprise.
@nialui21 / TikTok

Paying off your mortgage might seem more difficult than ever, but Debt.org—a website providing advice from financial experts for anyone looking to reduce their debt or who hopes to stay out of it altogether—explains that paying it off early can certainly be done by following a few helpful tips:

  • Pay a little extra each month
  • Bi-weekly payments instead of monthly
  • Making one additional monthly payment each year
  • Pay off other debts
  • Downsize your property
  • Loan modification

If you are among the lucky ones who manage to pay the mortgage off in its entirety, Debt.org highlights that this can free up your spending costs which will reduce stress in other areas, and it also means paying less interest over the years.

How Did Social Media React?

When Lui shared the video of her parents after they “made their last house payment,” social media users were full of praise for their astonishing achievement. The clip was shared on TikTok (@nialui21) in December and it’s already been viewed more than 8.1 million times and received over 1.4 million likes, as Lui said that she’s “so grateful for their example” in her life.

“They are setting themselves up for an amazing future and preparing so that we, as their children, never have to pay for their care or take care of their problems. I did not expect that video to take off so much, but everyone has been so happy for them,” she told Newsweek.

She adds that this is definitely something that many people can aspire to accomplish one day, as long as they have “the right guidance,” and role models like her parents certainly help with that.

With over 10,000 comments on the viral TikTok post, plenty of hearts were melted at the sight of such a cherished moment. One comment reads: “This short video portrays perfectly an entire lifetime [of] love, struggle, happiness.”

Another person responded: “I can’t wait to get here, but it seems so far away.”

While one TikTok user wrote: “This has to be the best feeling. I paid off my car last month and that was fun lol.”

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