Class #12 Exercises: Will-Power and Temptation

These exercises will probably only be helpful after you’ve gone through the exercises in class #11 and had some success in putting them into place. In other words, class #11 is about turning the corner. Class #12 is about making sure you keep going in the right direction.

Question #1: If you are in debt, how can you make paying down debt an automatic process so that you don’t even have to think about it?



Question #2: How can you make sure that you don’t go back into debt? Will you get rid of credit cards? Almost everyone needs at least one card. What can you do to make staying out of debt automatic, so that it’s not even a decision?




Question #3: What are the situations that tempt you to go into debt? What are the situations that tempt you to spend foolishly?




Question #4: How can you make sure you don’t end up in situations where you are tempted to disrupt your financial stability?





Question #5: If you are starting to save, how can you make saving automatic? When you save money you literally pay yourself instead of just paying your bills. What can you do to make increasing savings an automatic response, instead of something you have to agonize over?






Question #6: Do you have major financial decisions that you need to make? (Examples: should I buy a house? should I go back to graduate school? should I buy a car? should I pay down student loan debt or invest instead?)




Question #7: When can you schedule a time, perhaps even a whole day, to figuring out those decisions?




Question #8: If you found yourself having a hard time answering Question #7, remember that major financial decisions will affect you for years to come. Therefor, it’s certainly worth it to spend a day, or even a few days, making those important decisions. Making an important decisions is work. What can you remove from your schedule to make a better decision?





Question #9: Now let’s talk about going after what you really want. How can you make positive steps towards your goal automatic or at least habitual?





Question #10: Time to get creative. In general, what are the things you can do in your life to reduce the number of trivial decisions you have to make?






Exercise #1: Whether the “places” are actual stores, online websites, or friends’ houses, you know where you are tempted to go back into bad spending habits. Identify the situations that encourage spending. Identify the places where you spend money you shouldn’t. Identify the people who encourage you to spend unwisely.







Exercise #2: What will you replace those places and situations with?







Exercise #3: You may not be able to replace people, but how will you draw boundaries with others to stay financially stable?





Exercise #4: Who do you know that can be your partner on your road to financial freedom?


If you’d like to talk about your answers, feel free to email
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