Outline
Right after I was told that I should teach this class, I looked at my TO-DO list.
It contained items under these simple verb headings:
CANCEL
PAY
SELL
DO
And looking at that, I suddenly realized that those headings were perfect for the outline of this class, and for the model that could move people out of debt and fiscal incapacity to liquidity and freedom.
In More Detail…
CANCEL comprises the first step of becoming solvent — removing continue sources of debt or cost. Cancel magazines, turn off cable channels, step down a cell phone plan or two, cancel the house line, turn the heat down a few degrees, buy a six-pack instead of a twelver the next item — cut down your consumption. A 12-ounce latte saves you thirty cents ever the 16-ounce. Get in the habit of saving thirty cents every time.
PAY has to do with debt you have outstanding. Credit card companies provide a free service… which degrades into highway robbery quite quickly if you are not careful and disciplined. If you are carrying a balance on your credit card, and paying interest, you are doing it wrong. Pay off the balance, tear up your credit cards and try again in a few years… maybe. The one exception is 0%, and even then you have to make the payments, read the fine print, and follow all the rules.
SELL is obvious. Do an exhaustive inventory of all your possessions… and sell or give away most of it. If you have outstanding debt, pay it with the proceeds. If you have a car you are making payments on, sell it and buy one outright for half the price.
DO covers all the additional financial ideas, and what to do with your money once you are out of debt. Get an IRA, make some investments, travel the world…