Getting Debt Free: July 2013
And we are back with our Getting Debt Free July 2013 Recap! July was a great month for us towards working closer to reaching our goal to become free of debt. After not paying off any bills in full in June, I made sure we bumped it up a notch for July. How did that work out for us?
Continuing to Pay Off Debt
We paid off TWO more debts! After not paying off any in June, regardless of the progress we made towards paying down our debt, I wanted to make sure we made up for it! But, wait! There’s more!
Credit Score on the Rise
My credit score went up a huge 13 points in July! That’s big! I was actually really surprised to see how much it went up. Especially since the last two debts we paid off were both in Drew’s name. I’m getting really close to being back to where my credit score was before we got into all of this debt.
Our credit card utilization went down even more. From where we were at the beginning of January 2013, it has gone down 19%. That’s some real progress.
Last month, we even started paying additional funds towards our next debt. Now as our debts that still need to be paid off have bigger balances, we know we won’t be paying one off every month. As disappointing as that sounds, we will now shift our focus to getting our credit card utilization down even more and our credit scores even higher, every month.
Ting Phone Service
One thing we did to make more money available to us each month to pay off debts is switch phone services to Ting. Ting is awesome because they only charge you for what you use and you don’t have a contract. We cut our phone bill from almost $200 per month to less than $100 per month. Now that’s some extra green!
Even more exciting, Ting is giving AfterGlobe readers $25 that can be used either towards a device or towards a service credit! All you have to do to take advantage of this great deal is click on the link to get hooked up through AfterGlobe. What are you waiting for? You could start saving money, right now!
Our goal for August is to bring in as much additional funds as we can to pay down the next debt in line. Besides the money we already have planned to pay towards it, we will be having a garage sale with all profits going towards paying off our next debt. We will also be listing some larger items on Craigslist and put the sales from all of those items towards that debt, as well. It’ll be a lot of extra funds to bring in, but we are hoping to bring in enough to pay off this debt in full for August.
As of the end of July 2013, we have 6 debts paid off in full and 11 more to go. We started working towards becoming debt free in January 2013.
What type of progress did you make towards getting debt free in July 2013?