Getting Debt Free: March 2013 Recap
Here we are the last day of March and I already have the March 2013 recap complete! We are just so happy with the progress that we’ve been making towards being debt free that we couldn’t wait any longer to share! March was so much better than February when it came to working on our goal of getting out of debt. Not only did we get more debt paid off, but there was also an improvement to my credit score. It was a really good month making steps in the right direction of becoming debt free.
March started off with filing our taxes and our tax returns coming in. We put all of our tax returns towards debt which resulted in paying off another debt in full. They were pretty small returns, however every extra little bit of funds helps. That’s three debts now paid off in full! That’s three steps closer to being debt free. We won’t think about how many more there are to pay off, at this moment, to keep this high going a little bit longer.
It was awesome to see my credit score go back up, too. Every week we saw it go up a few points. By the end of the month it was only three points away from where is was before the drop. We were very happy with that. Ok, I’ll admit it; I was beyond excited about it!
We had mentioned before how we called all of our credit card companies to inquirer about getting lower rates. While going through my credit report on Credit Karma, I realized that an account that was paid off in full was showing as still being owed. I called the company and asked them to make sure it was reported to the credit companies as being paid in full. It only took a week for it to show up on my credit report as paid lowering the amount that my credit report showed I owed by almost $10,000. Even though that wasn’t actual debt we paid off, showing that it is in fact paid does make a difference to our credit reports. Once, again, I highly recommend that everyone takes advantage of printing up their free credit reports every year and making sure there aren’t any mistakes on it.
Drew’s score has consistently stayed the same during this time since we’ve been paying the lowest debts off first and those were all debts that were in my name. Regardless of who’s name the debt is in, all of the debts are ours and we are committed, together, to getting them paid off. We have two more debts to finish paying off and then we will start paying on ones in Drew’s name since they are all higher owing debts.
We had a nice little surprise when I went to pay on one of our credit cards and saw it was lower than I remembered. I checked my notes and budget to make sure I wasn’t remembering incorrectly. The amount in both was the one I remembered. I started going through the account and found a large refund we weren’t expecting to get. It was great to get even closer to becoming debt free without even trying. Now if only more financial surprises would happen like that, we would become debt free in no time.
Like every month, we put as much as we can towards paying off our debts. Some months we make big steps towards our getting out of debt plan. Other months, we still make all of the progress we can, but no debts are paid off in full. Naturally, we like the months where we can check another debt off our list. Regardless, if we get a debt paid off in full or not, we continue to believe in ourselves that in time, we will become debt free.
As of the end of March 2013, we have 3 debts paid off in full and 15 more to go. We started working towards becoming debt free in January 2013.
How did you do towards getting debt free March 2013?