Our Money Makover Progress – August

It’s that time again for us to reevaluate our budget. As I had mentioned in an earlier post, we have decided to work hard to become completely debt free. We are following the 7 Baby Steps to Financial Freedom and are in step 2 with a bit of step 4 & 5 mixed in.

This month was a challenge as school tuition’s were due. But, even though we had that expense, we stuck to our mission and have now reduced our debt by another 1 % for a total of 3% lower. And what simply amazes me is that we have not put one thing on a credit card. Not one. I can’t tell you how good that feels. I don’t even carry it with me anymore. Have we made sacrifices, absolutely but it is so worth it.

So now with school tuition done (for this semester) I’m hoping to make a bigger impact in reducing our debt over the next couple of months. Can we do it…I think we can!

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  • Shanna

    Cheers for you! Keep plugging away and you'll see big progress before you know it…

  • Anonymous

    You are smart and not doing what so many in this world are doing and you will be better for it – in so many ways. Keep going you are doing great.

  • Anonymous

    We paid cash for my husband to get his Master's Degree. I would divide the amount of tuition to find a monthly cost and would put that amount into a savings account each month. Then I would transfer into checking when tuition was due. This allowed us to comfortably write the check at the beginning of each semester. Great job!

  • Cindy Livesey

    Planning for your tuition is a great idea. You are very smart to do that. We do that with the high school tuition. The problem was having to pay for 2 college tuition and 1 high school tuition. We didn't have enough money to go around. Poor planning on our part. If I could do it again, I would have saved much much earlier. I needed years of savings in order to pay to put 3 kids through college.