Becoming the Master of my Money on the DMP

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.

Becoming the Master of my Money on the DMP

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Becoming the Master of my Money on the DMPEnrolling in the Debt Management Plan (DMP) gave me the proverbial "new lease on life." 

Now that I had a clear plan for getting out of debt, I needed to get organized. No more random piles of bills and unopened mail. I needed to become the master of my money, knowing exactly where it was going and when it had to go! 

I decided to use a calendar system which I prepare one month in advance. Knowing I have three paydays a month, I break the month into segments; representing my paydays. Incoming bills are marked with the payday segment from which they'll be paid. I divide large payments like my mortgage into equal amounts taken out of each paycheck. 

This has saved me from the panic of having a huge chunk of money due all at once. 

Using a calendar this way, I get the "big picture" of WHERE the money goes, and WHEN it needs to be there. My CareOne payment is withdrawn automatically on my first payday of the month. Financially, I no longer leave anything to chance. Boy, have I ever learned my lesson! 

I have committed to save money every time I get paid, so I set up accounts online and move those funds out of checking immediately. 

I've been quite proud of myself as I watch how well this system really works! Looking at my finances ahead of time enables me to plan ahead for larger expenses like a new lawn mower or annual car registration. Having a little "cushion" of savings also mitigates some of the dread of an unforeseen emergency.

I'm not out of the woods yet, my savings is small, but it's a start.......... And that's a milestone for me!

Because we all need motivation, and little incentives to stay on track, I use the "Savings Scale" on the My CareOne homepage. I have two new savings accounts; one called "Vacation," and the other "Rainy Day."  Whether I have the funds for an overnighter in San Francisco, or a cruise to the Caribbean, I'll have the joy of paying with cash rather than credit. 

I've taken on the mantra, "if I can't pay cash, I cannot afford this."  That in itself is very good motivation to save.

I'm having fun looking for ways to cut expenses. Installing inexpensive ceiling fans cut my cooling bill in HALF this summer. Bringing my lunch to work, rather than watching leftovers sadly march to the garbage has helped significantly. Getting on a "first name" basis with Groupon and "like new" thrift shops has provided me with some great outings and new treasures for surprisingly small costs. 

My budget tools???  Think ahead, get creative, and find inexpensive ways to enjoy my new financial freedom!

Julie Van Wert, CareOne Debt Management Plan Customer Blogger for Leading Provider of Debt Relief Services, CareOne Services, Inc.

Julie Van Wert

I am a Medical Social Worker at a community hospital. I am married and have three wonderful children, and three beautiful grandsons, with another grandbaby on the way. My family also includes a miniature Dachshund named Conrad. I love gardening and spending time outdoors, but I equally love doing home decorating projects. I've been enrolled in the Debt Management Plan for just under a year, and that has been a real "turning point" in my financial life. I hope you will follow along with My Journey out of Debt! Compensated CareOne Debt Relief Services Blogger

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  • I really like hearing about how others enrolled in the DMP handle their budgets.  Vonnie and I's budget as been a "work in progress" for quite a while as we are constantly tweaking it to make it work better for us.  After over three years we're finally hitting our stride.....but hearing the ideas and methodologies of others always gives me new ideas for new improvements.

    Thanks for sharing, Julie, and WAY TO GO!

  • Finding new ways to cut back is awesome!  I think it is great that you have been able to already start a savings.  It may start out small but it does grow!!  Keep up the great work!

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