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You are here: Home / Sponsored Post / Pay Down Debt After Active Duty Life

Pay Down Debt After Active Duty Life

May 20, 2016 by Julie 67 Comments

Pay Down Debt After Active Duty Life

I am working with Credit Karma® to bring you this #Sponsored Post.

Pay Down Debt After Active Duty Life

In June of 2014, my husband went from active duty Army to the National Guard. This was a big step for us. This meant that he would no longer be bringing home his paycheck on the 1st and 15th of the month. This meant that we would pay more for insurance and we would no longer receive BAH. This also meant finding a new job and taking a pay cut.

Getting out of the military is no easy task.

Finding a new career and a new purpose can take a lot of time. This is exactly how things have been for us. Trying different jobs and trying to figure out what works. This is all a process and I know things don’t happen overnight but being patient is difficult.

During the last few years, we have had to make some hard choices when it comes to spending our money. We want to eventually be out of debt and we want to be able to give our children a good childhood. The balance of that while trying to find a new job can be difficult.

One of the best ways to get out of debt is to know what your financial situation is. Knowing how much debt you have, how much each of the payments is and when they are due is important. Tracking your credit health will help you know where you are and how far you are from where you want to be financially.

We want to get out of debt so we can eventually make a move back to the West Coast to be closer to family. This will require a lot of work but I know we can eventually get there.

Using an app like Credit Karma® is going to help us get there. We can use this app to track how we are doing and follow-up on our debts and credit health.

Credit Karma has a few tools that make doing this pretty easy.

After setting up an account you should be able to see what is called your VantageScore 3.0. This is what you can track over time as your credit improves. Using this score you can see that you are improving.

Credit Karma is a great app for military families, no matter what stage of life you are in. I know this app will help us in our after Army/ Guard life and it can also help families as they go through other changes during their military careers.

Did you know that 20% of Active Duty families have over $10,000 of credit card debt? This means that so many would benefit from a tool that can help them track their debt and get back on track.

Here are some other features of Credit Karma that will help you track your financial health:

Credit Factors

In this section, you can check on how well you are doing with your credit card utilization. This is how much credit you are using vs how much credit you have access to. If your balances are too close to your limit, you are going to have a higher percentage. You can also track your payment history, any derogatory marks, age of accounts, total accounts and hard inquiries.

Credit Score Simulator

The credit score simulator is such a helpful tool. You can plug in different numbers to find out what your score would be when you have less debt. This is an encouraging tool to use as you work towards your goal.

Direct Dispute™ 

If you ever see anything wrong on your credit report you can use this tool to dispute the mistake.  This tool will notify a credit bureau of the errors. As many as 1 out of 4 credit reports can contain errors. If you are one of them you want to fix it as soon as possible.

Credit Karma will provide access to your credit reports from two major bureaus. They will update every week as well. This credit monitoring can help families catch fraud early as well as understand where they are financially at any time. And best of all, Credit Karma is free.

I plan to use Credit Karma to help track how we are doing as we work on our debt and work towards our future goals.

You know what can help with debt reduction? Winning a giveaway 🙂 I will be giving away a $50 Visa Gift Card to one of my readers. Just enter the giveaway below…

a Rafflecopter giveaway

Now, go check out the Credit Karma app and see how you can start tracking your own credit to get you to your financial goals.

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Filed Under: Military Life, Money, Sponsored Post

About Julie

Owner of Soldier's Wife, Crazy Life. Writer, reader, coffee drinker. Mom to three boys, wife of a National Guard soldier. Living life in Tennessee.

I wanted to let you know about the InDependent Wellness Summit, March 1-6, 2021! 

It's all virtual! And you can either sign up for Free General Admission or receive 30% off of their VIP All-Access pass using my link! 

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Reader Interactions

Comments

  1. Carly Williams

    May 20, 2016 at 12:22 pm

    I would use it to help pay for groceries.

    Reply
  2. Kara - RofaMW

    May 20, 2016 at 2:11 pm

    I would use it to pay for the sports camp by daughter wants to attend this summer.

    Reply
  3. Ashley Mason

    May 24, 2016 at 3:15 am

    If I won I would use it send more care packages to my husband!

    Reply
  4. twenteries

    May 24, 2016 at 3:05 pm

    I would put it towards our vacation fund! 🙂

    Reply
  5. KaylaKayla

    May 24, 2016 at 3:43 pm

    I would surprise my husband with the new game that he’s been dying to play! 🙂

    Reply
  6. cyndi br

    May 24, 2016 at 4:01 pm

    it would go towards groceries

    Reply
  7. Pamela

    May 24, 2016 at 4:19 pm

    I would put it toward our summer “staycation” fund. We hope to do a few local trips the little ones will enjoy.

    Reply
  8. dlhaley

    May 24, 2016 at 4:27 pm

    I would use it to buy groceries.

    Reply
  9. Sheila K.

    May 24, 2016 at 4:37 pm

    I’ll use the card to buy groceries!

    Reply
  10. MaryAnn

    May 24, 2016 at 5:17 pm

    I would put the $50 towards our summer vacation

    Reply
  11. Audra watts

    May 24, 2016 at 6:23 pm

    I would get some new sheets for my bed

    Reply
  12. Pam H.

    May 24, 2016 at 6:33 pm

    I would buy plants for my garden.

    Reply
  13. Christie Temple

    May 24, 2016 at 6:39 pm

    I have three boys so it’ll definitely come into good use, probably buy some homeschool supplies!

    Reply
  14. Laurajj

    May 24, 2016 at 11:20 pm

    I would use it for vegetables and flowers for our garden!

    Reply
  15. Tammy Woodall

    May 25, 2016 at 7:53 am

    If I win, I will put it towards a Father’s Day gift.

    Reply
  16. Lisa

    May 25, 2016 at 8:25 am

    I would buy some seeds for the garden.

    Reply
  17. KC

    May 25, 2016 at 12:09 pm

    I’d more than likely put it towards something wedding related. Getting married in November. 🙂

    Reply
  18. Sarah

    May 25, 2016 at 2:33 pm

    If I won, I may well give it to a family in our church that is really struggling with unemployment and MAJOR health crises.

    Reply
  19. Jessica To

    May 25, 2016 at 2:39 pm

    I would use it towards our vacation this summer.

    Reply
  20. Lauren

    May 25, 2016 at 3:46 pm

    I would buy some summer clothes.

    Reply
  21. Kalona

    May 25, 2016 at 4:33 pm

    i would use it to help with home improvements

    Reply
  22. Gabrielly

    May 25, 2016 at 8:09 pm

    I would buy some clothes.

    Reply
  23. Kristie D.

    May 25, 2016 at 9:22 pm

    I would buy some groceries please. kristiedonelson(at)gmail(dot)com Thank you.

    Reply
  24. Wen Budro

    May 26, 2016 at 1:07 am

    I am actually trying to pay down a vet bill and a car repair bill. I put everything extra towards that goal.

    Reply
  25. cezovski

    May 26, 2016 at 1:29 am

    RAFFLECOPTER: CAROLSUE
    I would probably buy a new bed for my dog!
    Digicats {at} Sbcglobal {dot} Net

    Reply
  26. K

    May 26, 2016 at 2:50 am

    Pay a utility bill

    Reply
  27. Emily Ann

    May 26, 2016 at 1:30 pm

    I would use this for groceries since we use a lot of our money on bills. – emily ann benzing

    Reply
  28. Michelle

    May 26, 2016 at 6:58 pm

    I would use it to buy groceries or household supplies.

    Reply
  29. Elena

    May 26, 2016 at 9:15 pm

    I would buy groceries

    Reply
  30. Michelle

    May 26, 2016 at 11:36 pm

    Get clothes that fit!

    Reply
  31. Starla

    May 26, 2016 at 11:41 pm

    This would be awesome. I would definitely use it towards a college book for Fall semester!

    Reply
  32. DeeG131

    May 27, 2016 at 12:03 am

    Thanks for the chance! I’d use it towards groceries 🙂

    Reply
  33. Amanda Morris

    May 27, 2016 at 12:20 am

    Gel pens or clothes

    Reply
  34. Natalie

    May 27, 2016 at 6:20 am

    I will use the $50 towards buying a wire rack for my laundry room.

    Reply
  35. Sarah Hayes

    May 27, 2016 at 11:45 am

    I would use this for groceries

    Reply
  36. Heather S

    May 27, 2016 at 12:13 pm

    My son’s 15 birthday is coming up. I would gift it to him, he’s my world <3

    Reply
  37. Heather Hayes Panjon

    May 27, 2016 at 5:44 pm

    I Would Spend It On Supplies For A Family BBQ!

    Reply
  38. Jasanna

    May 27, 2016 at 7:50 pm

    I’d use it for groceries or a nice meal!

    Reply
  39. Betsy R Barnes

    May 27, 2016 at 11:42 pm

    If I won, I would take my hubby out for a steak dinner, his favorite!

    Reply
  40. Dana

    May 28, 2016 at 10:23 am

    I would love this to take my family out to eat!

    Reply
  41. Janet R

    May 28, 2016 at 4:36 pm

    We have a lot of summer birthdays so I’d use it to buy a gift.

    Reply
  42. latanya t

    May 28, 2016 at 4:45 pm

    I would use to buy groceries

    Reply
  43. Kelli Taylor

    May 28, 2016 at 5:43 pm

    I would treat myself to some new shoes!

    Reply
  44. Amber Terry

    May 28, 2016 at 6:34 pm

    I would probably buy a few groceries 🙂

    Thanks for the chance to win!

    Reply
  45. Jessica

    May 28, 2016 at 7:31 pm

    I would use it to buy groceries.

    Reply
  46. lk

    May 28, 2016 at 8:49 pm

    I’ve been trying to save more money, so I’d put it into savings.

    Reply
  47. Janice Cooper

    May 28, 2016 at 10:09 pm

    I would use it for groceries or for work clothes

    Reply
  48. Sherri J

    May 28, 2016 at 10:29 pm

    I would buy some school supplies for my kids who are in college.

    Reply
  49. steve weber

    May 28, 2016 at 10:58 pm

    I would use it towards gas.

    Reply
  50. Whitehead's Zoo

    May 28, 2016 at 11:16 pm

    I will give it to my son who is fixing to head off to college.

    Reply
  51. JAIVIANSMOMMY

    May 29, 2016 at 7:48 am

    I WOULD BUY MY KIDS SUMMER SHOES 🙂

    Reply
  52. Debbie McBride Pauley

    May 29, 2016 at 9:17 am

    If I win, I’ll put it towards the groceries for next month!

    Reply
  53. Katie R

    May 29, 2016 at 10:54 am

    I am off for the summer so it would be great to help me get through my college course.

    Reply
  54. Deanna

    May 29, 2016 at 2:25 pm

    I will use it to buy a new pair of boots!

    Reply
  55. Kim Henrichs

    May 29, 2016 at 2:44 pm

    I would probably buy groceries honestly!

    Reply
  56. S.D.

    May 29, 2016 at 2:45 pm

    I would use the money towards buying food for my son.

    Reply
  57. Claire

    May 29, 2016 at 11:44 pm

    gas and groceries.

    Reply
  58. 07violet

    May 30, 2016 at 4:33 am

    I’d use it to buy groceries.

    Reply
  59. Ashley C

    May 30, 2016 at 9:38 am

    I’d use it towards vacation

    demureprincess7(at)gmail(dot)com

    Reply
  60. jeremy mclaughlin

    May 30, 2016 at 9:44 am

    Would be put toward groceries

    Reply
  61. Cassandra

    May 30, 2016 at 11:50 am

    Make an extra credit card payment!

    Reply
  62. Dani Muniz

    May 30, 2016 at 12:13 pm

    se it to help pay my cable/internet bill

    Reply
  63. emilyfmd

    May 30, 2016 at 1:01 pm

    use on trip to chicago

    Reply
  64. Cindy Loo

    May 30, 2016 at 4:17 pm

    I’d make an extra payment on my student loans!

    Reply
  65. aimee webber

    May 30, 2016 at 7:41 pm

    If I win I’d put it towards my wedding!!

    Reply
  66. Kathryn C

    May 30, 2016 at 9:39 pm

    I would use it towards paying car insurance

    Reply
  67. Corey Olomon

    May 30, 2016 at 11:49 pm

    Put it towards the deposit on our new place.

    Reply

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About Soldier’s Wife, Crazy Life

Soldier's Wife, Crazy Life

Welcome to Soldier’s Wife, Crazy Life! I am so glad you are here.

My name is Julie and I have been an Army wife for almost 15 years now.

My husband of 18 years has served in the active-duty Army and now the Army National Guard. We have lived in Germany & Tennessee during our time as a military family.

We have three boys and have been through four deployments together.

I hope that you can find support for your own deployments, pcs moves, or anything else military life brings you 🙂

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