Click to go to the class home page Week 5: Dumping Debt Click to go to Dave Ramsey's FPU Page
This Week's Assignment, etc.
Dumping Debt teaches how to get out of debt and stay out of debt.

What a simple, straightforward, and DIFFICULT lesson this one was! Here we see clearly how personal finance is 20% knowledge and 80% behavior.

This Week's Homework:

  1. Read Chapters 7 and 8 in Financial Peace Revisited
  2. Complete Sheets 5 (monthly cash flow plan) and 7 (allocated spending plan) for April. Bring your sheets with you to class - we will discuss these
  3. Commit to yourself and/or your spouse that you will QUIT BORROWING MONEY NEEDLESSLY - NOW! This is the first and most important step to dumping debt. In next week's class, we'll talk more about this. Let's be BOLD in our commitment to making debt reduction a high priority!
  4. Finalize your April budget. Problems? Questions? Let's talk about them!

Keep in mind this week the six keys to dumping debt. Don't forget, gazelle-like INTENSITY is important - get ANGRY at the debt if that works best for you. FEAR it, so that you run in the opposite direction! ATTACK your debt as if your life depended on it - your financial security DOES!

Worksheets from the FPU Workbook for this lesson
FPU_Sheet_5_Monthly_Cash_Flow_Plan.xls This is the Cash Flow worksheet ("Sheet 5" in the workbook) alone. It is included in FPU Worksheets.xls, as well.
FPU_Sheet_7_Allocated_Spending_Plan.xls This is the Allocated Spending Plan worksheet ("Sheet 7" in the workbook) alone. If you get paid more than once per month, you NEED to fill out this sheet using the amounts in Sheet 5!

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