Level-up Guide for the
Stage of the Quicksand

Done? / Est. Time / Action Steps
Part 1: Facing the Problem
/ 30m /
  1. Accomplish the Cash Flow and NetWorth Statements. (See: Downloadable Materials)




/ 30m /
  1. Verify the accuracy of ALL the details of your debts.
  2. How much do you owe?
  3. How much are the interest and penalty fees?
  4. Who do you owe the money to?
  5. When do you need to pay them?

/ 10m /
  1. List all your debts from highest to lowest according to total interest and penalty fees.
    This will be the order you will pay your debts.

/ 10m /
  1. Spend 10 minutes answering the following question:
What positive changes in your life would happen if you are able to repay all of your debts? Be very detailed in your answer. Imagine the future where you are debt free. Write every single detail. Write down the changes in your emotions, your health, your relationships, your stress, your work... Imagine yourself as debt-free!
Part 2: Taking Responsibility
/ 1m /
  1. Recite the following for the next 28 days.
  • I, <state your name>, am buried in debt. I am burdened by yesterday’s expenses, so I will have to let go today’s conveniences in order to have a better future.
  • But I know that I am not alone in this. I am surrounded by people who are willing and able to help me. I am buried in debt today, because of my past mistakes. But I have learned from my mistakes. I am now a better person, who can make better decisions. This is why I am sure that I will have a better future.
  • I will become debt-free and move up in the game of wealth.
Mark a circle every time you recite this creed.
OOOOOOO-OOOOOOO-OOOOOOO-OOOOOOO
/ 20m /
  1. Make a list of items you can sell to meet your total debts.

/ 1h /
  1. Write down the possible selling prices of the said items.
    You can use to check the prices of items.

/ 20m /
  1. Write down the possible places where you can sell the items you own.

/ -- /
  1. Sell all the items throughout your journey to get out of debt. Try and attempt to sell the items at least once a week. (Be it through a garage sale, posting on social media, networking, selling it online, getting a broker, etc. If you don’t know HOW to sell it, the easiest way to find out is to ASK around.)
All the money you generate here should be used to pay off your debts.
Proceed to the next steps as you do this.
Part 3: Reducing Expenses
/ 20m /
  1. Review your cashflow statement which you made in Part 1. Review all your expenses and identify items which can be eliminated. This will now be your budget.

/ 10m /
  1. Record all your household’s expenses for the next 28 days. This is so you keep track of where each peso is going. And so that you STICK to your budget.
Mark a circle every time you record all expenses for the day.
OOOOOOO-OOOOOOO-OOOOOOO-OOOOOOO
Continue doing this practice until you reach the Stage of Security.
/ 10m /
  1. Get the difference between your income and your new lowered level of expenses.
    All of this should go to debt repayments.

/ 30m /
  1. Tell your dependents that you are buried in debt. Follow the script.
  • We are buried in debt. We have debts amounting to Pxx,xxx and I am having a hard time paying it already. I am doing and will continue to do my best to get out of this.
  • I am sharing this to you because I need your help in any way you can. I don’t want to force you into doing something that you don’t want.
  • I know we will get out of this if we find ways to: Increase our income OR Lower our expenses. I would like you to think about it, and we’ll meet in <X> days from now to get suggestions from everyone.
  • We will get through this together.

/ 30m /
  1. Follow-up with your dependents if they can think of any suggestions to increase income or minimize expenses.

/ -- /
  1. Implement the suggestions. Again, all money saved and generated from this will be used to repay your debts.

/ -- /
  1. (Optional) – Make a list of people you know to be financially stable. Ask them if they will be willing to let you borrow money at 0% interest. Follow the script.
  • I am buried in debt amounting to Pxx,xxx.xx I have made big financial mistakes in the past and now I’m paying for them. I am having a hard time paying the interest payments, that’s why I need help.
  • I know you’re in a much better financial state that me, that’s why I asking you. If you are also not doing well financially, then please tell me. I wouldn’t want to be a burden to you, our relationship is more important than money.
  • My plan is to raise enough cash in order to significantly minimize and eliminate interest payments. I have already <sold my possessions, created a budget, reduced expenses, etc.>
  • With this, can you lend me Pxx,xxx.xx without any interest? I will pay you back in x months. This money, I will be able to get from <name sources of income>. Right now, I just want my debt to become manageable, and for it to stop getting interest. That’s why I need your help.

Part 4: MeetingYour Creditors
/ 10m /
  1. Starting from your 1st high priority debt (See Step 3). Prepare to meet with them by knowing the following details.
  2. How much do you owe in total to them?
  3. What was the original amount?
  4. How much was caused by penalties and interest charges?
Note: Remember that you can always ASK for a LOWER amount to repay,
but it can’t be lower than the original amount (the principal).
If you are already dealing with a collection agency, go to and review EVERYTHING in that website. (All of the information there is for free, you just have to create an account to get access to the forums.)
/ 30m /
  1. Create a plan for debt repayment by getting the following:
  2. How much in total can you repay for your debts?
  3. If you pay this amount every month to your 1st high priority debt, in how many months will you be fully paid?
  4. If you pay only 50% of this amount to your 1st high priority debt, in how many months will you be fully paid?

/ -- /
  1. Contact your 1st high-priority creditor (See Step 3). Ask to meet with them. Follow the script and be prepared with your data.
  • I want to be able to pay off my debts as soon as possible.
  • I am already taking the necessary steps to get the money by... <selling stuff, created a budget, asked help from friends and dependents, etc.>
  • With that can you reduce the amount to Pxx,xxx.xx? This is the amount that I can afford and will be able to pay back. <Show them your plan in repaying them, you’ll pay X amount for x months.>
  • Is there any way you can further reduce the interest payments, and/or penalties?
  • For credit card debt: As a sign of good faith, here is my credit card back, I won’t be using it anymore, so I won’t be incurring any more debt. (For credit card debt only).

/ -- / Continue paying your debts until you eliminate one. Once you have fully eliminated your debt, you will get to free up MORE cash. (This is money that used to go to interest payments!) Add this amount to your debt repayment budget and work on your second loan. Rinse and repeat until you’re debt free!
Part 5: Increasing your Income
Increasing your income is already a part of the Stage of Burden’s Level-up Guide. But it would be wise to also do the action steps there so you can add more funds for debt repayment. This will help you move out of the Quicksand even faster. However, please note that the steps here are the most important steps for you to take.

Additional Notes: This document template was created strictly for the attendees Game of Wealth Seminar. As this document is editable (for your own customization), please do not share, upload or distribute this document to others. If you want to spread financial literacy to your friends and family, then direct them to . This is so that their learning process will be more organized – similar to what you experienced.

© Game of Wealth Seminar