Getting Debt Free: December 2013 Recap
In August, due to slower progress between bigger balances to pay off, we moved our monthly Getting Debt Free recaps to quarterly recaps. In lue of those updates, we started our Travel Finances series. During that time we didn’t stop working towards our goals and are happy with the progress we have to share with you for Getting Debt Free December 2013.
September – November Progress
During this time, the credit score went up another 11 points. The score is so close to being back to where we’d like it to be- where it was a little over a year ago. With the progress we continue to make, we should meet our goal credit score in the next couple months.
Unfortunately, our credit card utilization went up. We aren’t sure how this happened since we haven’t put any other charges on our cards, our available credit went up on more than one card, and we paid off more debt. Wouldn’t you think that would bring utilization down? To be on the safe side, we went through our credit reports to make sure an account wasn’t fraudulently opened in our names. Thankfully, nothing was off on our reports. Maybe it’s just a miscalculation in the system. It is now back to where it was before it went up 4%.
Last month, we paid off another credit card. This was one with a much bigger balance than any of the others that we’ve paid off to date. It was exciting to now see that card with a zero balance. Now on to the next card!
The Minimalist Game
For the month of November, we participated in The Minimalist Game. Every day we got rid of an item based on what day of the month it was. On the 1st, we got rid of one item. On the 2nd, we got rid of two more items and so on. We did this for all of November resulting in hundreds of items donated to charity. Besides all the items we donated, we also made another large pile of items to sell to help pay off our debt.
As of the end of November 2013, we have 7 debts paid off in full and 10 more to go. We started working towards becoming debt free in January 2013. Once we have paid off all of our debt, all of our funds will go into savings to travel the world.
How have you done the past three months towards paying off debt or saving to travel the world?
All photography provided by Kimmy Hayes © 2013.