• 38 minutes

Lesson Prep

  • Scissors
  • Remember to encourage people to keep going


  • Review the Baby Steps
  • Celebrate plasectomies!
    • Did anyone cut up their credit cards since we last met?
  • Do a budget checkup
    • How are you adjusting to living on a budget?
  • Instruct everyone to turn to page 47 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

Emergency Fund

  • Saving 3–6 months of expenses
  • Your emergency fund is insurance, not an investment!
    • It prevents you from going back into debt.
  • When you use your emergency fund, BUILD it back up.


  • Murphy’s Law states: Anything that can go wrong WILL go wrong.


  • Stay Gazelle Intense
    • Turn to page 52, and let’s look at the case study about two couples who are saving for Baby Step 3. Work through the case study. Then we’ll discuss the answers, as well as how you can stay focused even after you’re debt-free.
    • Answers
      • Because both couples have already saved 11,000 to finish their emergency fund.
      • It will take Brian and Heather nearly 37 months. The math for that is 300.
      • Because Ashton and Kelsey were gazelle intense, it will take them just 11 months. The math for that is 1,000.

Discussion Questions

  1. By now, you’ve seen and experienced the power of the debt snowball. How can its momentum help you knock out your emergency fund? Why is that important to know?

  2. When have you wished you had Murphy repellent in your life? How would a fully funded emergency fund have turned that crisis into a simple inconvenience?

  3. In building your emergency fund, consider the suggested savings range of 3–6 months of expenses. Which amount makes the most sense for your life and gives you the most peace?

  4. Once you’re debt-free, it can be tempting to let your foot off the gas and taper off the intensity. But we want you to move through the first three Baby Steps as fast as you can! What are some practical things you can do to maintain your gazelle intensity in Baby Step 3?

Wrap Up

  • Go to page 55 and read through the action steps
  • Figure out how much you need to save for Baby Step #3
  • Keep working on your budget
    • You need to be aware of how much you have spent on certain categories
    • You need to make a monthly budget
    • You need to be having Budget Committee Meetings