My Journey out of Debt

Featured customers currently enrolled in a CareOne Debt Relief Plan, share journey to become debt-free; hear how they juggle family, finances, and more.

Budgeting as a Skill

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Budgeting as a SkillIf you are enrolled in a debt management plan than you know how important a budget is to staying on track. Budgeting is a true skill that needs to be constantly exercised. Some people have pretty complex budgeting systems, using spreadsheets or online software to keep on track.

I don't think you have to have a complex budget to achieve financial balance. Personally, I keep things pretty straight forward; using pen and paper to create my budget.

Sometimes when you are using a budget, you have to learn how to budget your budget...which I know sounds weird, but let me explain. When you are budgeting for a month, you always have to have some idea of the following month. You may need to budget within your budget for expenses coming up in the future.

The first thing I do is tally all of my monthly bills and figure out exactly how much I am going to need to pay them. If I can put off paying a bill, I won't pay it until the next month. I am committed to always make my payment to my debt management plan.

Here is an example, for those of you who are not familiar with budgeting.

Example of Budget

Bills: $116.37

Debt: $400.00

Car/Insurance: $300.02

Total funds needed: $816.39

Account balance: $476.35

Still need: $340.04

Now that you have an idea of how I calculate my monthly expenses, tell me what you do to figure out your monthly budget. I would love to hear about it so we could find new ways to help balance our lives, one dollar at time.

For more budgeting tips, please check out the following web pages:

http://www.budgetworksheets.org/  - This page provides complete details of all your expenses.

http://www.kiplinger.com/tools/budget/   - Visit this site for a budget worksheet.

http://financialplan.about.com/cs/budgeting/l/blbudget.htm -Go here to see more detailed information about utilizing your income tax information, as well as income and basic monthly expenses.

 http://69.0.254.19/wwMS/english/InfoBooth/089.htm  - This site provides a worksheet which would be great for those with mortgages.

http://www.dollartimes.com/download-and-print/  - This web page allows you to make your own custom budget, and to select print preferences.

Kelly Rockafellow, Customer Blogger for CareOne Services, Inc. Kelly Rockafellow

Kelly is enrolled in the CareOne Debt Management Plan (DMP). As she and her family approach the end of their plan, Kelly is going to share with the community what has made her stay on track and remain motivated. Kelly runs a business from her home and is anxiously waiting to successfully complete her plan so that she and her boyfriend can get married. Follow Kelly's story under the My Journey out of Debt blog. Compensated CareOne Debt Relief Services blogger.

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  • It is really so useful information. Thanks for share.

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