• 1 Hour

Lesson Prep

  • Scissors
  • Print extra copies of your Financial Snapshot card


  • Review the Baby Steps
  • Collect the Financial Snapshot cards
    • Add the numbers during the video
  • Do a budget checkup
  • Instruct everyone to turn to page 31 in their Member Workbook
  • Take attendance and watch the video
  • Look for your coordinator cue before the One-Minute Takeaway to get ready for the Activity

How to get out of Debt

  • Quit borrowing more money
  • You must save money
  • Sell something
  • Take a part-time job
  • Prayer really works


  • Make sure you have your $1,000 in the bank and completed BABY STEP 1
  • BABY STEP 2 is paying off all debt (except the house) using the debt_snow_ball
  • It takes gazelle intensity to get out of debt
  • Proverbs 22:7, The rich rule over the poor, and the borrower is slave to the lender


  • Share your class’s Financial Snapshot figures (2 minutes)
    • Total Non mortgage Debt?
    • How much liquid cash do you have available?
    • How many open credit card accounts do you have?
  • It’s time for a Plasectomy (10 minute)
    • Give “prize” to the first person who cuts up their card
    • Important: Write down the card information first!
      • Once you pay them off, you’ll have to call and cancel each account

Discussion Questions

  1. Look over the list of myths and truths Dave covered in the video.
    • Which myths have fooled you in the past?
    • How can you make sure you don’t get duped again?
  2. What fears or concerns do you have about living without credit cards?
  3. Proverbs 22:7 says that “the borrower is slave to the lender” (NIV).
    • What would your life look like if you were totally debt-free?
    • What could you do that you can’t afford to do now?
  4. Dave says, “You can wander into debt, but you can’t wander out.” You’ll have to make some tough decisions and sacrifices moving forward.
    • What’s one area you can cut back—or cut out—to reach your money goals?
  5. You need serious passion and motivation to get out of debt.
    • What’s one thing you can do to kick start and keep up your gazelle intensity?

Wrap Up

  • Go to page 41 and read through the action steps
  • Encourage them to bring their budget to the next lesson
  • Married couples, don’t forget the Budget Committee Meeting. And singles, show your budget to your accountability partner