Chapter 8: Getting Out of Debt

MY FOUNDATION PRINCIPLE

• Work: Take Responsibility and Persevere

FINANCIAL PRINCIPLES AND SKILLS

1. Stop Incurring Debt
2. Pay Off Your Debts

REPORT — Maximum Time: 25 Minutes

LAST WEEK’S COMMITMENTS:

A. Practice and share last week’s My Foundation principle.

B. Create a debt inventory.

C. Discuss the debt inventory and ways to overcome “natural man” tendencies in my family council.

D. Contact and support my action partner.

STEP 1: EVALUATE WITH ACTION PARTNER (5 minutes)

✏️ (Please use paper or a separate app to complete)

Take a few minutes to evaluate your efforts to keep your commitments this week. Use the “Evaluating My Efforts” chart at the beginning of this workbook. Share your evaluation with your partner and discuss with him or her the question below. He or she will then initial where indicated.

Discuss: What challenges did you have with keeping your commitments this week?

STEP 2: REPORT TO THE GROUP (8 minutes)

After evaluating your efforts, come back together and report your results. Go around the group and each state whether you rated yourself “red,” “yellow,” or “green” for each of last week’s commitments.

STEP 3: SHARE YOUR EXPERIENCES (10 minutes)