Money Mentors sees Great Client Success in David Vink

March 1st, 2015

“Night and day” was the way Vink described the feeling of ridding himself of debt through Money Mentors OPD program.

In 2012, David Vink showed up at Money Mentors, with a staggering $36,000 of debt weighing down on his every day. Vink heard about Money Mentors from a colleague, and was in to see his new credit counsellor, Glen Sharegan, the very next day.

Vink spent a few minutes talking about his experience with Money Mentors, and the fear people may have around swallowing their pride and asking for help with their finances.

“There was no judgment. Glen was great. He never once said you have to do this, this, or this.”

After his consultation with Glen, it was decided the best course of action for Vink was to start on Money Mentors Orderly Payment of Debts (OPD) program. Vink was grateful for this program as it gave him a chance to catch his breath and finally tackle the one thing that had been controlling his mind for much too long.


$36,000 of debt is more money than some Canadians make in one year. Vink started to go into debt when he loaned money to his former partner. Truly though, Vink couldn’t afford these extra expenses. “I was poor at managing my money,” said Vink.

Additionally, because of a poor relationship, that partner never paid him back. Without legal documentation, it was impossible for Vink to re-claim.

“Its fine to help someone out that you care for, like $50 or $100 here, if you have the money in your budget that’s fine. But it becomes dangerous when you’re borrowing thousands of dollars.”

Loaning money in relationships can be a double edged sword. By having all of your “legal” ducks in a row before you start lending, you can avoid these dangers.

A suggestion to people who may be in a similar situation: be around people who have a similar financial lifestyle to yours, or spend responsibly. Vink now has open conversations with his partner and friends regarding their financial situations, and says their honesty has helped him be that much more confident in his saving habits.


After two and a half years, Vink could proudly say he was 100% debt free thanks to Money Mentors and its OPD program. “I still live on a cash based diet; I budget daily, weekly, monthly and yearly,” said Vink.

Although it was extremely hard for David to live on cash for two and a half years, he learned to manage his money and leverage the cash that he did have. “If people at work say “Hey David lets go for a coffee”, I’ll say sorry but that’s not in my budget today.”

“I’ve had to give up many things that I used to love to do: travelling, vacations, nice clothes.  But I also became an expert on how to find things budget wise. I learned how to do coupon shopping, I learned how to get discounts and I learned to be patient with market sales.”

If Vink could give his old self one rule to live by, it would be the 10% rule. By saving 10% of each paycheck, anyone can all have a valuable emergency savings fund.


success-1-2Vink loves to spread his financial literacy to friends and family who are dealing with similar issues. “People are very emotional buyers” says Vink. He explained that everyone has their one item that they cannot resist but buy when out at the mall, or in a restaurant.

But why are people so afraid to talk finances? Vink hopes that one day we will be able to talk openly about this social topic sometime in the near future. He spoke about the need to educate our youth in schools and training students on budgeting, which is something Money Mentors, is happily involved in.

Basic fundamentals for budgeting don’t always exist. “It’s funny, because my parents were great with budgeting, but somehow there was a disconnect,” says Vink.

Money Mentors is a safe place to come for free financial education and more. “It’s so much more of getting through the mindset of, it’s okay,” said Vink.

Vink compared debt to an illness, in which debt and spending end up controlling your life. “There is a shame factor associated to this, and there doesn’t need to be.”


  1. Pay off your credit card daily:
    Vink says if you must use your credit; pay off your card daily. Things add up so quickly, they need to be controlled. By creating this habit you are only helping yourself become more successful.
  2. Live on a cash based diet:
    Spending the time to budget and ensure you have your information down to a T is important. “It takes 3 weeks to make this a habit, but just over or under a year to master a budget,” says Vink.
  3. Never pay retail price:
    Patience is a virtue when it comes to shopping. Sales are a wonderful thing, and can still allow you to live the same lifestyle you used to. Don’t be afraid to ask the stores when their next sale will be.

Money Mentors would like to congratulate David on being debt free and having the courage to share his story with us.


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