DEBT DESTROYER: Week 09

Welcome to Week 9 of the 12-week DEBT DESTROYER Challenge!

You can utilize the Debt DestroyerWk9 Workbook to track your progress, complete activities, and learn more about the topics we cover each week. Access the manual HERE.

Your assignments are detailed below.

  • Day 1: watch the videos and complete the Mindset exercises.
  • Days 2-5: Commit a minimum of 20 minutes acting on your daily spend offenses and positive influxes.
  • Days 6-7: Review your week and DRIVE THE WEDGE.

1. Debt Destroyer Lesson

Watch the overview video plus two assignment videos (approx 20 minutes total) and post a proof pic/screenshot showing the end of the last video. (4 points)

Overview

Video 1

Video 2

2. Debt Destroyer Mindset Exercises

(5 points)

Assignment 1: The Control Panel

After watching the lesson videos for this week, utilize the Control Panel Template tab in the Debt Destroyer Tools and Templates file, a spreadsheet, or piece of paper to write out your Control Panel. Note that utilizing a spreadsheet will be very effective in recreating or updating your control panel on a periodic basis.

Proof pic: Upload a photo of your Control Panel to your fire team channel.

Assignment 2: Update your Spend Offensives and Income Influxes in your Control Panel (5 points)

Note that the Control Panel has now taken over the Weekly Attack Plan.

Draft three (3) Spend Offenses. Leverage the efficiencies, eliminations and behavioral changes identified in the Value Alignment and Expanding the Wedge exercises, or include any other opportunities to expand your wedge.

Spend Offensive Examples:

  • Renegotiate your Cell Phone, Internet, or Cable bill…only accept if you get a better deal with greater service
  • Research federal/state credits and rebates for solar panels, doors, windows, heaters and water retention…and take control of your resources
  • Let a friend pay for lunch

Draft three (3) Positive Influxes, hustles, initiatives and easy wins to generate cash inflow.

Positive Influx Examples:

Sum all initiatives to calculate your Estimated Free Cash Flow (FCF) potential.

Proof pic: Post a proof pick of you Control Panel action items to your fire team channel.

Assignment 4: DAILY Spend Offenses OR Positive Influxes (4 points per day for a max total of 16 points)

For 4 days this week, set your timer for 20 minutes and focus on one (1) Spend Offensive or one (1) Positive Influx. You are not measured by effectiveness, you are simply devoting time and intentionally making bold moves with your money.

Proof pic: Upload a picture of your daily action each day to your fire team channel.

Assignment 5: Review your week and Drive the Wedge (5 points)

At the end of the week, spend some time going back to think about your week.  What worked? What did not? Note your successes and ensure you provide a dollar value.

At the bottom of the sheet, input your Weekly Wedge, your Estimated FCF and Actual Wedge.

Drive the Wedge: Chose an obligation from your Obligation Hit-List in the Control Panel and transfer the value of the actual wedge created to the principal balance. This is the single most important step in the entire program.

Proof pic: Post your Weekly Review to your fire team channel.

3. BOLD MOVE

Make one Bold Move this week to move the needle in any area of your life (For example your health, wealth, relationship, family, work or personal life). It is strongly recommended (though not required) that you make a Bold Move that is directly related to one of your Debt Destruction actions.

Proof pic: Upload a photo or video of your Bold Move to your fire team channel. (5 points).

If you need more information about the concept of Bold Moves, refer to the 50 BOLD User Manual.

4. SPECIAL OPS

Your Special Ops assignment for this week is to complete ONE of the three Special Ops listed below, and to substantiate by uploading a proof pic or video to your fire team channel. (5 points)

Special op #1: Knock something off a fence-post with a rock
Special op #2: Do a cannonball into a lake or a river
Special op #3: Carry something heavy around the block

5. MOOT

Join us Friday at 3 PM Central Time for our weekly Moot. Zoom link and password will be posted in Slack each Friday.

Proof pic: Upload a photo or screenshot of the Moot to show you attended the live Moot or watched the replay (5 points).

KILL A BILL WAR ROOM

Every Wednesday at 12pm CST we will hold an open Zoom call to work assignments, share wins and see who can bring the worst hold muzak when calling vendors. This call is not mandatory and you do not need to stay on the entire hour. Just a block of time you can use to focus on destroying your debt. Zoom details will be posted in the 03-debt-destroyer channel.

Quick Links:

Debt Destroyer User Manual

Debt Destroyer Scoring Tracker Template

50 BOLD User Manual

For DEBT DESTROYER Support: Send a direct message in Slack to @Coach David Kaiser

For general Third Way Man or 50 BOLD support inquiries, please email support@thirdwayman.com

Now go out and Destroy Your Debt, win some points, and put your fire team on the leaderboard.

See you on the Moot!

David Kaiser, 50 BOLD Coach
Third Way Man