Page 68 - Workbook1E

HOMEWORK
Follow these suggestions to master these important principles on debt elimination.
1. Answer the questions on the Debtors
Anonymous Questionnaire. Consider your own debts. Ask yourself how badly you want to free yourself from the burden of debt?
2. Create your own Creditor Summary Sheet on
the blank one provided. Following Erik and Tracy’s example carefully identify and evaluate each of your debts. Consider why you originally entered into the debt and if you could decide to go into debt for each of these things all over again, would you change your mind?
3. Design your own Debt Rollup and Power
Payment Plans. Carefully calculate your accelerated payments and real debt. If you desire, research reputable credit advisors in your area and discuss your financial situation with them and determine your best debt elimination option.
4. Remember you’re making life-changing
decisions. Old money habits have often been wealth- destroying habits. Forming new wealth-building habits requires desire, good planning, and consistent effort. As you learn to use these new money management tools, your skills will grow and you’ll soon be financially fit.
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64 Workbook 1: Building a Spending Plan that Works
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