FINANCIAL FREEDOM

“The rich ruleth over the poor and the borrower is servant to the lender.” (Proverbs 22:7)

Finding

FINANCIAL FREEDOM

Global Debt

National Debt

Dollars spent in the lifetime of an average 21-year-old

Adults who are unbanked

Total revolving debt carried by the average household

Credit cards in the average household

Amount Americans shelled out in credit card fees in 2004, an 18% increase over the previous year

11 StepsFor Getting out of Debt

STEP #1Acknowledge the Problem

11 Steps for Getting out of Debt

#1: Acknowledge the Problem

STEP #2Stop Digging

11 Steps for Getting out of Debt

#1: Acknowledge the Problem

#2: Stop Digging

STEP #3Make Small Cutbacks

11 Steps for Getting out of Debt

#1: Acknowledge the Problem

#2: Stop Digging

#3: Make Small Cutbacks

STEP #4Start an

Emergency Fund

11 Steps for Getting out of Debt#1: Acknowledge the Problem

#2: Stop Digging

#3: Make Small Cutbacks

#4: Start an Emergency Fund

STEP #5Take Inventory

11 Steps for Getting out of Debt

#1: Acknowledge the Problem

#2: Stop Digging

#3: Make Small Cutbacks

#4: Start an Emergency Fund

#5: Take Inventory

STEP #6Make a

Spending Plan

11 Steps for Getting out of Debt

#1: Acknowledge the Problem

#2: Stop Digging

#3: Make Small Cutbacks

#4: Start an Emergency Fund

#5: Take Inventory

#6: Make a Spending Plan

STEP #7Control

Spending

11 Steps for Getting out of Debt

#1: Acknowledge the Problem

#2: Stop Digging

#3: Make Small Cutbacks

#4: Start an Emergency Fund

#5: Take Inventory

#6: Make a Spending Plan

#7: Control Spending

STEP #8Pay Bills on

Time

11 Steps for Getting out of Debt

#1: Acknowledge the Problem#2: Stop Digging#3: Make Small Cutbacks#4: Start an Emergency Fund#5: Take Inventory#6: Make a Spending Plan #7: Control Spending#8: Pay Bills on Time

STEP #9Start a

Snowball

11 Steps for Getting out of Debt

#1: Acknowledge the Problem#2: Stop Digging#3: Make Small Cutbacks#4: Start an Emergency Fund#5: Take Inventory#6: Make a Spending Plan #7: Control Spending#8: Pay Bills on Time#9: Start a Snowball

STEP #10Grow Your

Income

11 Steps for Getting out of Debt

#1: Acknowledge the Problem#2: Stop Digging#3: Make Small Cutbacks#4: Start an Emergency Fund#5: Take Inventory#6: Make a Spending Plan #7: Control Spending#8: Pay Bills on Time#9: Start a Snowball#10: Grow Your Income

STEP #11Expand Your

Emergency Fund

11 Steps for Getting out of Debt

#1: Acknowledge the Problem#2: Stop Digging#3: Make Small Cutbacks#4: Start an Emergency Fund#5: Take Inventory#6: Make a Spending Plan #7: Control Spending#8: Pay Bills on Time#9: Start a Snowball#10: Grow Your Income #11: Expand Your Emergency Fund

FAMILY FINANCIAL FITNESS

* 45% of college students with $3,000 + in credit card debt

* More students lost to credit card debt than to academic failure

* 96% increase in number of 18 to 24-year-olds declaring bankruptcy

* Personal bankruptcies nearly doubled in the past decade

* 1.6 million + filed for personal bankruptcy in 2003.

* Home foreclosures in 2002 reached the highest rate in 30 years.

Once you get out of debt,

STAY OUT OF DEBT!

Resources• Dave Ramsey

– Financial Peace– The Financial Peace Planner– How to Have More Than Enough– More Than Enough– Financial Peace Revisited– The Total Money Makeover (and workbook)– The Money Answer Book– Priceless: Straight-Shooting, No-Frills Financial Wisdom– EntreLeadership: 20 Years of Practical Business Wisdom from the

Trenches• Dave Ramsey Show 1:00-4:00 PM 570 AM(KLIF)• www.daveramsey.com • U.S. Debt Clock: http://www.usdebtclock.org/index.html#• World Debt Clock: http://www.economist.com/content/global_debt_clock