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TRUMP UNIVERSITY WEALTH BUILDING 101

strategy. Without a step-by-step process, chances are your debt won’t
budge. I recommend that you pay off your debt based on what I call a
pay-off ratio score, which I’ll explain in the next step.
Follow the easy steps described in Exhibit 8.1: Debt Elimination
Plan.
4. Pay off your debt . Start with the debt that has the highest pay-off prior-

ity number. Put 10 percent of your gross income on this one debt and
make a new, higher payment. At the same time, you must take two
other actions simultaneously: Continue making the monthly mini-
mum payments required on all other debts; and refrain from creating
any additional debt. Pay off all debts in this way until you are com-
pletely debt-free (including the debt on your house and cars).
5. Invest your debt money . Once you have completed the process of paying

off all your debt, invest the money you once used to pay to service
debt to invest instead. That’s right. Since the money was already gone
(or spent), you really won’t miss it. So now put that money to work for
you. This step is critical to forging a new path on your journey to
financial freedom. Instead of spending it, use the money you just

released from servicing your debt to building your fi nancial freedom.

By rolling the additional 10 percent of your gross income, plus each and
every minimum monthly payment to the next debt, you then have all of that
money to invest. This will make you richer faster than you ever imagined.
You will pay off all your debt and not take on new debt to replace it. Keep
rolling the money from one debt to the next, terminating each as you go. In
this way, you build momentum until you are totally debt-free.
Instead of just spending the money, you now use that money to build a
better financial future for yourself and the people you love. Do not—I repeat,

do not—fall back into the same old debt cycle by servicing new (noninvest-
ment) debts. Put this money to work for you. My program, “How to Become
Totally Debt-Free (Including Your House and Cars) in 3–7 Years!” is available
as a free download at johnburley.com/trump . You will receive the download-
able worksheet, the calculator to determine which debt to pay off fi rst, and

be able to calculate your financial freedom date.

A Debt Elimination Story: Stan and Barbara

Let’s look at how a couple named Stan and Barbara succeeded in becoming
debt-free. Their story is a great example of the power you, too, can achieve.

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