Interest Is Cancel-able.
We all appreciate the fact that we may purchase a car and a home without cash, and pay for this car, home, furniture and boat over time.
Banks love helping us to make major purchases by loaning us the money to do so. Banks are in business to make money by charging us interest on the money we borrow. That interest may be 2% to 25% depending on your credit score.
Fact: the average person spends 34.5% of their income on interest!
The purpose of this article is to show you options you do have to cancel / reduce interest you are paying on all loans. There is an alternative to living in debt.
Debt reduction. This is basically accumulation of your credit card and car loans into one package.
Result is you now have one payment to one loan provider, giving you a manageable affordable monthly payment. The downside is you are starting all over in the process of paying off your debts. The biggest downside is that most people will now begin to use the paid off credit cards and increase their debt. The habit of overspending has not been broken.
Refinancing your mortgage. The benefit is that you may get a lower interest rate and also a lower monthly payment.
The good side is that your mortgage is now affordable. The downside is that you are starting your mortgage payoff time all over again, whether that be 15 years or 30 years.
Note that refinancing your mortgage does touch your other debts such as car loans, student loans or credit cards. You still have these same debts and monthly payments.
Mortgage Bi-weekly payments. This will cancel some interest by paying of your mortgage in less time by adding one extra payment per year. Result is a 30 year mortgage would be reduced to approximately 24 years.
Extra payment made to mortgage and / or credit cards and / or car payments.
It is true you may put additional money to these debts at anytime. It is a good place to put your tax return income or other bonus income you may have available. This will reduce the overall interest you are paying on these loans.
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Imagine a GPS system that tracks where you are in relation to your finances plans. This system lets you better understand your income and your expense flow, then plan and “game out” financial scenarios such as the purchase of a new car, other credit decisions and the investment opportunities so you can understand the effect they will have on your finances and future. – Personal Real Estate Investor – Dec 2014
`This program guides you in making all financial decisions. The result is that you may pay off all of your debts, including your mortgage in ½ the regular time or less, using the cutting edge, 21st century financial solutions! Using this program, most clients are able to pay off their 30 year mortgage in as little as 9 to 15 years – plus all other debt.
No refinancing, No loan modification and No lifestyle change.
The worth account system is an excellent program for seeing into your financial future based on what you are doing today. It takes the guesswork out of financial planning.
Benefits of this system are:
1. Save thousands of dollars on interest paid
2. Be debt free in 1/2 to 1/3 the time
3. Visually see the results and impact of every purchase and financial transaction
4. Know the true cost of each purchase before you buy.